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Gold Breaks Below 200-Day SMA, Eyes on CPI for Direction
Gold prices have decisively broken below the 200-day SMA, setting up a critical test ahead of the US CPI report. Analysts weigh a potential relief rally to $4,450 or a deeper decline toward $4,200.
RBA Expected to Cut Rates as AUD Slides to 0.7010
Analysts now see the Reserve Bank of Australia's next move as a rate cut, not a hike. The Australian dollar weakened 0.25% against the US dollar in European trade, falling near 0.7010.
AUD/USD Support at 0.7000 Under Pressure: UOB
UOB analysts report that AUD/USD spiked to 0.7071 before sliding to 0.7005 and closing at 0.7027. They note slightly stronger downside momentum but doubt a sustained break below 0.7000 in the very near term.
Gold Breaches 200-Day SMA; US CPI Report Could Decide Next Move
Gold has broken below its 200-day moving average, a bearish technical signal. Traders now await the US CPI report, which could either trigger a rebound toward $4,450 or deepen the decline.
BoC Expected to Hold Rate at 2.25% as Inflation Persists
The Bank of Canada is widely expected to keep its policy rate unchanged at 2.25% on Wednesday, marking the fifth consecutive hold as inflation remains elevated but the economy shows signs of weakening.
DXY Supported Ahead of US May CPI, ING Says
ING’s Chris Turner notes the US Dollar is holding recent gains as markets await the May CPI report, with firm core inflation expected to keep Fed rate hike pricing alive.
USD/CAD Could Rebound Toward 1.4000, Ascending Channel Intact
USD/CAD edged lower to 1.3930 during European trading on Wednesday but remains within an ascending channel on the daily chart, suggesting a potential rebound toward the six-month high near 1.4000.
Euro Gains Hinge on Domestic Demand, Says BNY
BNY's Geoff Yu says recent EUR/USD support came from cross-border investors reducing hedges after the ECB's hawkish shift, but further gains depend on domestic demand.
Iran Accuses US of Undermining Diplomacy with Ceasefire Violations
Iran's Foreign Ministry spokesperson stated during European trading hours that Tehran must reassess negotiation terms with Washington after overnight clashes.
May US CPI Data Expected to Accelerate, USD Edges Lower
The USD weakened in Asian trading as markets await May US CPI data, with both headline and core rates expected to show acceleration.
Societe Generale Sees Further CAD Weakness as USDCAD Breaks Resistance
Societe Generale analysts note that USDCAD has breached key technical resistance and could extend higher, as the Bank of Canada is expected to keep rates unchanged, implying further downside for the Canadian dollar against the USD.
US Apache Downing Near Strait of Hormuz Pushes Oil to Multi-Year Highs, Lifts Dollar
The downing of a US Apache helicopter near the Strait of Hormuz escalates Middle East tensions, driving crude oil prices to multi-year highs and boosting the US dollar as investors seek safe havens.
Canadian Dollar's Downside Pressure May Ease, Experts Say
Experts suggest the Canadian Dollar's downside pressure may be about to ease, as it hovers near the upper boundaries of its year-to-date range against the US Dollar.
Indian Rupee Rebounds from Record Lows as RBI and Government Act
The Indian Rupee has recovered from its all-time low against the US Dollar, supported by coordinated measures from the Reserve Bank of India and the government to attract foreign capital.
Kalshi Introduces Mandatory Workplace Verification for Traders on High-Risk Markets
Prediction market platform Kalshi now requires traders to verify their workplace when participating in markets deemed high risk for insider trading and manipulation. The company assigns risk ratings to new markets based on factors like corporate events, regulatory constraints, and national security.
BYD Abandons Turkey Factory Plans After Tax Breaks, Sales Collapse
BYD, after benefitting from customs duty exemptions as a designated domestic producer and selling 45,000 vehicles in Turkey in 2025, is now walking away from its commitment to build a factory. Turkish sales have plunged 64% in early 2026, and local rival Togg has overtaken the brand.
BYD Halts $1 Billion Turkey Factory, Prioritizes Hungary
Chinese automaker BYD has quietly halted its planned $1 billion factory in Manisa, Turkey, nearly two years after the signing. A BYD executive confirmed there is no timeline for construction, with the company now focusing on its Hungary plant.
US Dollar Index Faces Selling Pressure Ahead of US CPI Data
The US Dollar Index (DXY) is down 0.1% in European trading on Wednesday as traders await US CPI data. The greenback is under pressure against major peers.
UOB Analysts See Further GBP/USD Downside Risk Toward 1.3240
UOB's Quek Ser Leang and Lee Sue Ann warn of additional downside pressure on GBP/USD following last week's sharp decline, with potential to retest 1.3300 before extending losses toward 1.3240.
Analysts: Europe Underestimating Iran War Energy Shock
Analysts warn that European energy markets, which have remained calm since the outbreak of the war in Iran, may soon face a severe shock that governments are underestimating.
Copper Outlook Mixed as China Trade Data Send Conflicting Signals – ING
ING analysts note that China's copper trade data for May presents a mixed picture, with higher unwrought imports last month but lower year-to-date volumes amid stronger domestic refined production.
Euro Edges Higher but Stays Near Two-Month Lows Ahead of US CPI
The Euro ticks up for a third consecutive day against the US Dollar but remains capped below 1.1575, hovering near two-month lows around 1.1500 as markets await the US CPI release.
S&P 500 and Nasdaq Edge Lower as Tech Swings on AI Sentiment
Deutsche Bank's Jim Reid notes a volatile session for US equities, with a sharp intraday tech sell-off largely reversing by the close. The S&P 500 and Nasdaq finished modestly lower, while semiconductors also saw choppy action.
Oil Falls as Rabobank Flags Hormuz Transit Risks, Hidden Flows
Rabobank strategist Michael Every notes oil prices declined after the US energy secretary reported increased Hormuz transits, possibly involving US Navy crude movements not captured in official data.