Sector Overview: Technology and Healthcare DivergeThe US stock market today is a vivid tapestry of mixed signals, with divergence in performance across sectors. The technology sector presents a varied picture. Notably, Apple (AAPL) is showing strength with a rise of 0.95%, highlighting bullish sentiment within the consumer electronics space. Conversely, Microsoft (MSFT) is slightly down by 0.15%, reflecting a more cautious mood among investors in software infrastructure.Semiconductors have taken a hit today as Nvidia (NVDA) decreases by 0.67% and Broadcom (AVGO) slides by 1.46%. This negative performance hints at broader concerns within the semiconductor manufacturing segment.Healthcare Struggles Amid Market DynamicsThe healthcare sector is facing challenges, primarily driven by Eli Lilly (LLY), which has seen a downturn of 2.54%. This decline suggests potential concerns over drug manufacturers or specific industry news affecting investor confidence.Market Mood and TrendsToday's market sentiment is a mixed bag, with clear sector-specific challenges emanating from both technology and healthcare. Investors remain cautious, with no broad-based trend emerging decisively. The mixed signals reflect a period of uncertainty, possibly fueled by economic indicators or broader geopolitical events yet to play out fully.Strategic Recommendations for InvestorsFor investors looking to navigate this complex landscape, diversification remains key. The ongoing fluctuations in the technology and healthcare sectors suggest that careful analysis and selective investment could capitalize on potential rebounds or mitigate risks.Consider Tech Opportunities: Given the mixed results, investors should monitor strong performers like Apple and evaluate entry points in technology, particularly in consumer electronics and software, where bullish sentiment might be capitalized on.Exercise Caution in Healthcare: With significant declines in major players like Eli Lilly, it's prudent to stay cautious, until clearer signals or recovery indicators emerge.As always, keep an eye on real-time market updates and adjust portfolios to both guard against downside risks and seize emerging opportunities. For more insights and analysis, visit ForexLive.com. Stay informed, stay agile. ? This article was written by Itai Levitan at www.forexlive.com.

The USDJPY is surging higher after briefly dipping on the back of dovish FOMC commentary from Vice Chair Christopher Waller. That dip found support near the 50% midpoint of the May high to low move at 145.375—a key technical level that helped re-anchor bullish sentiment.Since then, the pair has rebounded sharply, making new highs for the day, the week, and reaching levels not seen since May 29. The price is now testing a key swing area between 145.919 and 146.25, which also includes the 61.8% retracement of the May decline at 146.148. Getting above those levels and staying above would be the next hurdle for the buyers. Sellers looking for an area to sell the USDJPY would be looking to lean in this area. On the week, USDJPY is up solidly from last Friday’s closing level of 144.06, adding to bullish momentum. For the week, the price is up 4 of 5 trading days and has been up 5 of 6 days. ? Key resistance:Swing area: 145.919–146.2561.8% retracement: 146.148? Key support:HIgh from yesterday: 146.7750% midpoint: 145.375100-hour MA: ~145.05A break above the current zone would shift focus toward 147.20–147.38. But failure to clear 146.25 could bring sellers back into play short term. This article was written by Greg Michalowski at www.forexlive.com.

The EURUSD sellers had their shot, breaking below the 200-hour MA late Wednesday and driving the pair to a low and swing level at 1.1445. Buyers leaned against that level and helped push the price back up, retesting the 200-hour MA by day’s end yesterday.In the Asian session today, the pair finally broke above the 200-hour MA (green line), extended through the 100-hour MA, and reached the swing area between 1.15239 and 1.15295. But in early European trading, momentum stalled, and the price rotated back lower.Now, the pair is testing the converged 100- and 200-hour MAs between 1.1507 and 1.1513—once again a key barometer for directional bias.Break lower: Opens the door toward 1.1486 and the weekly low at 1.1445Hold support and rebound: A move back above 1.15295 would be needed to reassert buyer controlThe battle at the moving averages is back on for now. How will the market respond at the key confluence area. .? Key support:100/200-hour MAs: 1.1507 – 1.1513Swing-level: 1.1486Low for the week 1.1445? Key resistance:Swing area: 1.15235 – 1.15295High from earlier this week (Tuesday) : near 1.1578Buyers are trying to wrestle back control and MA levels This article was written by Greg Michalowski at www.forexlive.com.

Prior was -15.2 This article was written by Adam Button at www.forexlive.com.

Gold prices have rebounded strongly from $3343 in the past hour, rising about $25.I think there is some demand for safety into the weekend on the risk that the US enters the war in Iran. There could also be some technical bids after the earlier low of $3340 held.Most global markets are pricing in some chance of a US-Iran war but it's tough to pin down how much, or to what extent the US gets involved or Iran retaliates. It's a real potential mess once you start to think about how the US might get out of any war it joins and if there's a real path to regime change here.In contrast, the price of oil is down to $72.99 from the earlier high of $75.74 as some profit taking hits. This article was written by Adam Button at www.forexlive.com.

The AUDUSD sellers had their chance, but momentum fizzled.Yesterday, the pair broke below key technical levels: The 200-bar MA on the 4-hour chart (green line on the chart above), A rising trendline, and the Prior week’s low. Yet, each of those breaks failed. The rejection at the lows sparked a recovery today, and now the price is testing the 100-bar MA on the 4-hour chart around 0.6490 (blue line).The price has been above that MA, but so far momentum has been limited. If momentum above the door opens toward the highs for the year once again. If it fails, a rotation back lower and toward the 200 hour MA and trend line would be the targets. ? Key support:200-bar MA (4H): ~0.6464Trend line - 0.6458Low for the day: 0.6445? Key resistance:100-bar MA (4H): ~0.6490Upper swing area: 0.6534 – 0.6553Buyers have regained the upper hand on the failed break lower —for now. Watch the moving averages to see if they keep it. This article was written by Greg Michalowski at www.forexlive.com.

Shares of Tesla are up 1.8% in the pre-market and trading at $328 per share.There have been some headwinds for Tesla in the news this week, with Sam Altman saying that OpenAI may solve self-driving."I think we have some new technology that could just do self driving for standard cars way better than any current approach has worked," said in a podcast.Shares of the company will be in the spotlight next week with the planned Sunday start of robotaxi service in Austin, Texas. The details have have leaked out so far have been un-inspiring. Electrek reports there will be a person acting as a 'safety monitor' in the front seat. The launch will also include only about 10 cars, be limited to a small geofenced area, only available to pre-selected people, from 6 am to midnight and weather permitting.Is that worth a third of Tesla's market cap? Evidently the bulls think it is.The Texas legislature may also be throwing up some safety hurdles. This article was written by Adam Button at www.forexlive.com.

The USDCAD has pushed higher despite counterpoint dovish comments on interest rates from Fed Governor Waller. The pair moved higher and reached a session high of 1.3723. In the process, the pair tested the 38.2% retracement of the decline from the May high, which comes in at 1.37221. However, momentum stalled at that key technical level. A sustained break above the 38.2% retracement would strengthen the bullish bias and open the door for a test of this week’s high at 1.37457 (set yesterday).Adding to the bullish case was the solid support seen earlier in the day. The pair found buying interest during the Asian and early European sessions near a swing area between 1.36858 and 1.36923. That support helped build confidence among buyers and led to the steady rise over the last several hours.The question now is whether buyers can maintain the momentum and push through resistance—or if sellers will lean against the retracement level and force a return back toward the support zone below. That technical battle is now playing out near the 1.3722 area. This article was written by Greg Michalowski at www.forexlive.com.

S&P 500 futures are up 21 points, or 0.35% ahead of the open with Nasdaq futures up 0.4%.The outperformer at the moment is the Russell 2000, where futures are up 1.2%.The latest leg in gains came after Fed Governor Waller suggested that a July rate cut should be on that table and that tariff inflation will be a one-off.Note that today is monthly options expiration. This article was written by Adam Button at www.forexlive.com.

This is a reported missile strike in Haifa. Others suggest strikes in Tel Aviv and the Negev.Stay safe everyone out there. Hopefully some peace is coming soon in Israel, Iran, Ukraine and elsewhere. It's awful seeing these headlines and images every day.The markets aren't responding anymore and the only questions is whether the US joins the war; and beyond that how the US will get out of the war if it joins in. This article was written by Adam Button at www.forexlive.com.

Gov. Waller is dovish in his comments a few days after the Fed kept rates unchanged and after Fed Powell was more cautious on the impact on inflation from tariffs. Waller is not worried about the total impact. He says that the Fed could cut as early as July. The Dow is up 111 point. The Nasdaq is up 65 points and the S&P is up 15.13 points now. The USD is modestly lower on the comments. The USDJPY has moved down from a high of 145.71 to 145.54 (it is modest). The high going back to last week was at 145.47. The 50% of the range since the May high is at 145.375. If the sellers are to take more control, the price needs to get below those levels. The USDCHF has dipped off it's highs at 0.8176. The price is trading at 0.8162. The 100 and 200 hour MAs are at 0.8159. If the price moves below those MAs, it would tilt the bias more to the downside technically - at least in the short term. The counterpoint has been made. This article was written by Greg Michalowski at www.forexlive.com.

I'm all in favor of saying 'maybe we should think about cutting at the next meeting'Tariffs 'are not going to cause persistent inflation'Tariffs will be a one-time factorThe Fed should not wait for the job market to crash in order to cut ratesThe job market is solid but starting to see things like high unemployment for recent gradsThe Fed has been on pause for six months waiting for an inflation shock that has not arrivedThe Fed has room to bring rates down and then can see what happens with inflationThe Fed is in a position as early as July for cutsTariffs will not be completely passed through, a 10% tariff on all imports would not have much impact on overall inflationI'm not sure if the committee would go alongThis is the most-dovish I've ever seen from him. The market was pricing in just a 14% chance of a July 30 rate cut before Waller and it hasn't moved much, which maybe speaks to the "I'm not sure if the committee would go along" comment.This is more setting Waller up for a rare governor dissent in July rather than a cut.Quotable: "I’m all in favor of saying maybe we should start thinking about cutting the policy rate at the next meeting, because we don’t want to wait till the job market tanks before we start cutting the policy rate.” This article was written by Adam Button at www.forexlive.com.

Prior was -0.8%Producer price index +1.2% vs +1.9% priorRaw materials price index -0.4% vs -3.3% priorRaw materials price index y/y -2.8% vs -3.9% prior This article was written by Adam Button at www.forexlive.com.

The advanced April report was +0.5%The March reading was +0.8%Ex-autos -0.3% vs +0.2% expectedPrior ex-autos -0.7% (revised to -0.8%)Advance May report-1.1%USD/CAD was trading at 1.3713 ahead of the data. The key number here is the advance May reading, which suggests a sharp drop in consumer spending. That report doesn't break down the sources of weaker spending so it could just be autos on the tariff front-run but it raises the stakes for the next report.More details:Year-on-year headline up +5.0 %Motor-vehicle & parts dealers +1.9 %m/m (new-car dealers +2.9%, used-car +2.1%Gasoline-station sales -2.7% m/mSporting goods / hobby / misc. +1.0 % Furniture / electronics / appliances +0.8 % Food & beverage +0.2 % Clothing & accessories -2.2 % (worst subsector) This article was written by Adam Button at www.forexlive.com.

Fundamental OverviewGold continues to pull back from the highs reached after the first Israel attack against Iran. The market kind of sensed that a de-escalation was the most likely outcome and the safe haven flows reversed. This week it’s been all about the Middle East because we haven’t got any key data point and the Fed kept everything unchanged as expected. Therefore, we remain in a mostly rangebound price action. In the bigger picture though, gold remains in an uptrend as real yields will likely continue to fall amid Fed easing and just a hawkish repricing in rate cuts expectations could trigger corrections in the short term. Gold Technical Analysis – Daily TimeframeOn the daily chart, we can see that gold continues to edge lower from the key 3438 level towards the major trendline. From a risk management perspective, the buyers will have a much better risk to reward setup around the trendline to position for a rally into a new all-time high. The sellers, on the other hand, will want to see the price breaking lower to increase the bearish bets into the 3120 level next.Gold Technical Analysis – 4 hour TimeframeOn the 4 hour chart, we can see that the price broke below the minor upward trendline. This should be a signal for more downside to come with the 3293 level as the first target for the sellers. That’s where we can expect the dip-buyers to step in with a defined risk below the level to position for a rally into new highs. The sellers, on the other hand, will look for a break lower to increase the bearish bets into the major trendline. Gold Technical Analysis – 1 hour TimeframeOn the 1 hour chart, we can see that we have now a minor downward trendline defining the bearish momentum on this timeframe. The sellers will likely continue to lean on the trendline to keep pushing into new lows, while the buyers will look for a break higher to start targeting again the 3438 level. The red lines define the average daily range for today. This article was written by Giuseppe Dellamotta at www.forexlive.com.

Prior 96Manufacturing confidence 96Prior 97Services confidence 96Prior 95The overall business climate is seen steady in June with a mild rebound in services sentiment observed. Of note, employment conditions also picked up with the indicator there climbing from 94 in May to 97 in June. This article was written by Justin Low at www.forexlive.com.

Expect underlying inflation to gradually heighten after a pauseUnderlying inflation likely to converge towards levels consistent with price targetThat should happen in latter half of 3-year projection periodExpect to keep raising interest rates if economy, prices follow projectionsJapan's real rate remains significantly lowThese are mostly token remarks by Ueda and nothing that really stands out following their policy decision from earlier this week. This article was written by Justin Low at www.forexlive.com.

In the European session, the main highlight was the UK Retail Sales report. The data missed expectations across the board by a big margin but it shouldn't change much for the market at this point. Also, retail sales data is notoriously volatile. In the American session, we have the Canadian Retail Sales and the US Philly Fed index coming up. Neither is going to change the market's pricing and we might very well not see much reaction in the market. We might just keep on ranging today as we head into the weekend risk. There's some optimism in the air at the moment given many de-escalation signals. Traders are now just monitoring the situation for potential direct US involvement or problems in the Strait of Hormuz. If these two factors remain unchanged, even if Israel and Iran continue to bomb each other the markets will just ignore that. This article was written by Giuseppe Dellamotta at www.forexlive.com.

German DAX futures +0.9%UK FTSE futures +0.5%After three straight days of losses, European stocks will look for some reprieve now before the end of the week. But the early gains here are tentative at best, with all eyes still staying on how things will play out in the Middle East. S&P 500 futures are down 0.1% on the day with US markets set to return to the fray later as well. This article was written by Justin Low at www.forexlive.com.

Prior -0.6%The drop on the month owes much to a decline in energy prices (-0.9%). If you strip that out, German producer prices were actually flat in May. This article was written by Justin Low at www.forexlive.com.