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AUD/USD approaches 0.6500 with the US Dollar on the defensive
AUD/USD approaches 0.6500 with the US Dollar on the defensive
The Australian Dollar is one of the stronger performers on Monday. The sour risk sentiment is not weighing the Aussie today, which is drawing support from a weak US Dollar to reach levels right below 0.6500.The Greenback has opened the week on the back foot, hit by a mix of events.
AUDUSD
Currencies
Fed
NZD/USD might test the significant resistance level at 0.6030 – UOB Group
NZD/USD might test the significant resistance level at 0.6030 – UOB Group
Above 0.6000, New Zealand Dollar (NZD) has a chance to test of the significant resistance level at 0.6030, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
NZDUSD
Technical Analysis
Banks
Brent holds range, faces resistance near 50-DMA at $67 – Société Générale
Brent holds range, faces resistance near 50-DMA at $67 – Société Générale
Brent crude continues to consolidate in a sideways pattern, with downward momentum still dominant. A potential base formation hinges on holding above recent lows and reclaiming key moving averages, Société Générale's FX analysts note.
Banks
Brent
Oil
GBP: Staying supported for now– ING
GBP: Staying supported for now– ING
Pound Sterling (GBP) is staying relatively supported, particularly against the US Dollar (USD), ING's FX analyst Chris Turner notes.
GBPUSD
Banks
Technical Analysis
US futures hold lower ahead of North America trading
US futures hold lower ahead of North America trading
Trade uncertainty weighs on risk sentiment to start the new week
USD/CNH rebounds toward 7.26 resistance after testing 7.16 – Société Générale
USD/CNH rebounds toward 7.26 resistance after testing 7.16 – Société Générale
USD/CNH’s recent downtrend has paused after finding support near 7.16, with a modest rebound now unfolding. However, upside may remain limited for now, as break below 7.16 can extend the downtrend, Société Générale's FX analysts note.
Banks
USDCNH
Technical Analysis
USDCNY
USD: Risk environment softens on trade confrontation – ING
USD: Risk environment softens on trade confrontation – ING
Global equity markets and the dollar start the week a little softer as trade tensions between the US and China start to reappear. It's not quite fair to say that the US-China trade deal reached in Geneva last month is unravelling, but both sides clearly seem frustrated.
DollarIndex
Banks
Technical Analysis
AUD/USD: Expected to trade in a range – UOB Group
AUD/USD: Expected to trade in a range – UOB Group
For the time being, Australian Dollar (AUD) is expected to trade in a range of 0.6380/0.6485, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
AUDUSD
Technical Analysis
Banks
What are the current interest rate expectations for the major central banks?
What are the current interest rate expectations for the major central banks?
The market pricing remained roughly unchanged for most central banks except the RBNZ after the less dovish than expected policy decision
market overview
 US Crude Oil (WTI) appreciates against all odds and returns to above $62.00
 US Crude Oil (WTI) appreciates against all odds and returns to above $62.00
Buy the rumour, sell the news in Oil prices, as the US benchmark WTI appreciates about $2.5 so far today, despite the output hikes announced by OPEC+ members, fresh threats of US tariffs and new trade tensions between the US and China.
Oil
WTI
Commodities
UnitedStates
Trump to double tariffs on Steel and Aluminium – ING
Trump to double tariffs on Steel and Aluminium – ING
Trump said he would increase tariffs on Steel and Aluminium to 50% from 25%, effective 4 June. He made the announcement as he visited a US Steel Corp. plant on Friday.
Banks
UnitedStates
Gas
Energy
GBP/USD: Likely to trade between 1.3400 and 1.3600  – UOB Group
GBP/USD: Likely to trade between 1.3400 and 1.3600 – UOB Group
Current GBP/USD price movements still appear to be part of a range trading phase, likely between 1.3400 and 1.3600, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Banks
GBPUSD
Technical Analysis
OPEC+ supply increase in line with our expectations – ING
OPEC+ supply increase in line with our expectations – ING
OPEC+ agreed to another large supply hike over the weekend, increasing it by 411k b/d effective July. The increase is similar to those in May and June.
Oil
Banks
Energy
OPEC
EUR: Staying bid despite another possible ECB rate cut – ING
EUR: Staying bid despite another possible ECB rate cut – ING
US Dollar (USD) problems are keeping EUR/USD bid, ING's FX analyst Chris Turner notes.
EURUSD
Technical Analysis
Banks
EUR/USD: Likely to trade in a range of 1.1270/1.1435 for now – UOB Group
EUR/USD: Likely to trade in a range of 1.1270/1.1435 for now – UOB Group
Increase in momentum is not enough to indicate a sustained advance; Euro (EUR) is likely to trade in a range of 1.1270/1.1435 for now vs US Dollar (USD), UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
EURUSD
Technical Analysis
Banks
Silver price today: Silver rises, according to FXStreet data
Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Monday, according to FXStreet data.
Silver
Commodities
Metals
Crude oil rallies as OPEC+ hikes output by less than expected
Crude oil rallies as OPEC+ hikes output by less than expected
OPEC+ underdelivered on expectations of higher than 411,000 bpd hike for July as it matched the May and June figures
US Dollar Index drops below 99.00 due to tariff threats, ISM Manufacturing PMI awaited
US Dollar Index drops below 99.00 due to tariff threats, ISM Manufacturing PMI awaited
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is depreciating by more than 0.50% and trading near 98.80 during the European hours on Monday.
DollarIndex
Macroeconomics
Majors
UnitedStates
TradeWar
NZD/USD Price Forescast: Above 0.6030, the next target is 0.6090
NZD/USD Price Forescast: Above 0.6030, the next target is 0.6090
The New Zealand Dollar is one of the best performers on Monday.
NZDUSD
Currencies
Technical Analysis
Market Outlook for the week of June 2nd - 6th
Market Outlook for the week of June 2nd - 6th
Highlights of the week include BoC and ECB monetary policy announcements, as well as labor market data for the U.S. and Canada
UK May final manufacturing PMI 46.4 vs 45.1 prelim
UK May final manufacturing PMI 46.4 vs 45.1 prelim
Final reading released by S&P Global - 2 June 2025
UK April mortgage approvals 60.46k vs 63.00k expected
UK April mortgage approvals 60.46k vs 63.00k expected
Latest data released by the BOE - 2 June 2025
USD/CAD explores Year-to-Date lows below 1.3700 amid broad-based Dollar weakness
USD/CAD explores Year-to-Date lows below 1.3700 amid broad-based Dollar weakness
Strong Canadian GDP raises expectations of a hawkish BoC on Wednesday.The US Dollar is dropping across the board, hammered by a mix of risk aversion amid Trump’s erratic trade policies, concerns about fresh tariffs, and looming fears of US debt that have revived the “sell America” trade.The US Presi
USDCAD
Currencies
GDP
Gold buyers look to buck the trend with the move higher today
Gold buyers look to buck the trend with the move higher today
The precious metal is up roughly 2% to start June trading
EUR/GBP steadies near 0.8450 due to risk-off mood following Trump tariff tensions
EUR/GBP steadies near 0.8450 due to risk-off mood following Trump tariff tensions
EUR/GBP remains steady after registering gains in the previous two sessions, trading around 0.8430 during the early European hours on Monday.
EURGBP
Crosses
Macroeconomics
Eurozone
UnitedKingdom
EUR/USD stalls below 1.1435 with US manufacturing data and Fed Powell on focus
EUR/USD stalls below 1.1435 with US manufacturing data and Fed Powell on focus
EUR/USD has lost bullish momentum after a strong rally during Monday's Asian and early European sessions.
EURUSD
Currencies
Technical Analysis
Italy May manufacturing PMI 49.2 vs 49.6 expected
Italy May manufacturing PMI 49.2 vs 49.6 expected
Latest data released by HCOB - 2 June 2025
No love for the dollar to start June trading
No love for the dollar to start June trading
The greenback is shoved lower to start the new month
Spain May manufacturing PMI 50.5 vs 48.4 expected
Spain May manufacturing PMI 50.5 vs 48.4 expected
Latest data released by HCOB - 2 June 2025
Forex Today: US Dollar weakens to start week as markets await PMI data
Forex Today: US Dollar weakens to start week as markets await PMI data
Here is what you need to know on Monday, June 2:
Majors
Macroeconomics
Currencies
EconomicIndicator
Commodities
European indices hold a little lower to kick start the week, month
European indices hold a little lower to kick start the week, month
May was a good month for European stocks, can they follow that up for June?
EUR/JPY Price Forecast: Bullish outlook remains in play above 163.00
EUR/JPY Price Forecast: Bullish outlook remains in play above 163.00
The EUR/JPY cross tumbles to around 163.15 during the early European session on Monday. The Japanese Yen (JPY) strengthens against the Euro (EUR) as persistent trade-related uncertainties and geopolitical risks further boost the safe-haven flows.
EURJPY
Technical Analysis
Crosses
Bullish
Switzerland Q1 GDP +0.5% vs +0.4% q/q expected
Switzerland Q1 GDP +0.5% vs +0.4% q/q expected
Latest data released by the Federal Statistics Office - 2 June 2025
What are the main events for today?
What are the main events for today?
The US ISM Manufacturing PMI is the main highlight
market overview