Dollar Struggles, Gold Rally Stalls, Trade Uncertainty Caps Conviction
| Action Insight Daily 6-3-25 |
Dollar Struggles, Gold Rally Stalls, Trade Uncertainty Caps Conviction |
Global markets remain mixed, reflecting a cautious investor mood amid heightened trade uncertainty and a lack of clear directional drivers. US stocks closed modestly higher overnight, reversing losses from earlier in the session. Asian equities broadly followed the rebound, seemingly brushing off disappointing Chinese manufacturing data. The overall tone, however, remains indecisive, with no strong commitment to risk assets or safe havens. In the currency markets, Dollar is recovering slightly after a brief selloff, but still stands as the week’s worst performer. Loonie and Aussie follow behind. Yen continues to lead on safe-haven demand. Kiwi and Euro are also holding firmer, with Sterling and Swiss Franc sitting mid-pack. The lack of clear directional bias reflects the broader market indecision, as traders await clarity on the outcome of key trade negotiations. Underlying this market hesitation is persistent uncertainty surrounding global trade. According to a Reuters report, the Trump administration is pressing trading partners to submit their "best offers" by Wednesday, as it pushes to fast-track negotiations ahead of the July 9 expiry of the current 90-day reciprocal tariff truce. The US is requesting commitments on tariff and quota concessions, along with action plans on non-tariff barriers.... |
USD/CHF Daily Outlook Daily Pivots: (S1) 0.8139; (P) 0.8189; (R1) 0.8222; More…. Intraday bias in USD/CHF stays on the downside as fall from 0.8475 is in progress for 0.8038 low. Strong support could be seen from there to bring rebound, on first attempt. On the upside, above 0.8248 minor resistance will turn intraday bias neutral first. However, decisive break of 0.8038 will confirm larger down trend resumption. | |
| GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
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| 22:45 | NZD | Terms of Trade Index Q1 | 1.90% | 3.60% | 3.10% | 3.20% | | 23:50 | JPY | Monetary Base Y/Y May | -3.40% | -4.20% | -4.80% | | 01:30 | AUD | RBA Meeting Minutes | | 01:30 | AUD | Current Account (AUD) Q1 | -14.7B | -12.0B | -12.5B | -16.3B | | 01:45 | CNY | Caixin Manufacturing PMI May | 48.3 | 50.6 | 50.4 | | 06:30 | CHF | CPI M/M May | 0.10% | 0.00% | | 06:30 | CHF | CPI Y/Y May | -0.10% | 0% | | 09:00 | EUR | Eurozone Unemployment Rate Apr | 6.20% | 6.20% | | 09:00 | EUR | Eurozone CPI Y/Y May P | 2.00% | 2.20% | | 09:00 | EUR | Eurozone CPI Core Y/Y May P | 2.40% | 2.70% | | 14:00 | USD | Factory Orders M/M Apr | -3.10% | 3.40% |
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