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Forecasting the upcoming week: Fed, BoJ, BoE and RBA decisions take center stage
The US Dollar Index (DXY) lost ground during the week, down 0.27% to trade near the 99.80 level as investors prepared for a heavy central bank calendar the following week.
S&P 500 outlook: Using Elliott Wave analysis to spot key market turning points
In the June 3 update, when the S&P 500 (SPX) was trading at around $7,570, it was shown, using the Elliott Wave Principle combined with market breadth, that “the weight of the evidence points toward a large-degree decline that could last several months.”
South Korean Won: Authorities step up FX stabilisation push – Societe Generale
Societe Generale highlights that South Korean authorities have launched a multi-pronged FX stabilisation package to address short-term USD funding stress and speculative pressures on the Korean Won.
United Kingdom CFTC GBP NC Net Positions fell from previous £-52.2K to £-64.2K
United Kingdom CFTC GBP NC Net Positions fell from previous £-52.2K to £-64.2K
Japan CFTC JPY NC Net Positions declined to ¥-145.8K from previous ¥-129.6K
Japan CFTC JPY NC Net Positions declined to ¥-145.8K from previous ¥-129.6K
United States CFTC Oil NC Net Positions fell from previous 155.9K to 130.3K
United States CFTC Oil NC Net Positions fell from previous 155.9K to 130.3K
Eurozone CFTC EUR NC Net Positions down to €13.9K from previous €48.9K
Eurozone CFTC EUR NC Net Positions down to €13.9K from previous €48.9K
Australia CFTC AUD NC Net Positions fell from previous $41.8K to $18.2K
Australia CFTC AUD NC Net Positions fell from previous $41.8K to $18.2K
United States CFTC S&P 500 NC Net Positions up to $-205.6K from previous $-220.8K
United States CFTC S&P 500 NC Net Positions up to $-205.6K from previous $-220.8K
United States CFTC Gold NC Net Positions dipped from previous $176K to $173.8K
United States CFTC Gold NC Net Positions dipped from previous $176K to $173.8K
US Senior Official: Iran deal secures Hormuz reopening, nuclear material
A senior administration official said on Friday that the Iran deal will guarantee long-term peace in the region. The agreement would achieve core US objectives and reopen the Strait of Hormuz. The official said that the US would get enriched nuclear material and include an inspection regime.
United Kingdom: Growth resilience but softer inflation – Deutsche Bank
Deutsche Bank’s Sanjay Raja says the UK economy is tracking close to the Bank of England’s Scenario A, with stronger‑than‑expected early‑2026 GDP but a cooling labour market and easing price pressures.
Gold clears $4,200 as optimism on Middle East deal dents inflation woes
Gold (XAU/USD) price consolidates above the $4,200 figure on Friday as market participants are optimistic about a potential US-Iran deal, set to be signed next week, according to newswires. Meanwhile, households in the US are becoming more optimistic about the economy.
South Korean Won: Supported by equities and hawkish BoK – BBH
Brown Brothers Harriman’s Elias Haddad highlights strong South Korean asset performance, with South Korean Won (KRW) outperforming and the KOSPI up sharply on AI-led semiconductor strength.
USD/CAD Price Forecast: RSI enters overbought territory as bears defend 1.4000
USD/CAD trades on the front foot on Friday as lower Oil prices weigh on the commodity-linked Canadian Dollar (CAD) amid cautious optimism that the United States (US) and Iran could reach an agreement that would reopen the Strait of Hormuz.
Japanese Yen: Weakness raises intervention concerns – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret report USD/JPY is steady but elevated, with recent gains already surpassing prior intervention-trigger levels. A 25 bps Bank of Japan (BoJ) hike on Tuesday is widely anticipated, and markets price nearly one more increase by December.
Euro holds steady against the US Dollar as markets await clarity on a possible US-Iran peace deal
EUR/USD fluctuates between modest gains and losses heading into the weekend as traders await Tehran's decision on a possible agreement with the United States (US) to end the war in the Middle East. At the time of writing, the pair trades around 1.1573 and is on track to post modest weekly gains.
Chinese Yuan: Policy mix supports stability – Societe Generale
Societe Generale notes that Chinese inflation remains subdued, with May Consumer Price Index (CPI) at 1.2% and core at 1.1%, while PPI has risen to a four-year high, suggesting weak consumer demand and margin pressure.
Dow Jones Industrial Average takes Pakistan's word for it
The Dow Jones Industrial Average (DJIA) climbed 0.6% on Friday, settling near 51,200 and outperforming the rest of the US majors on a day when the tech-heavy Nasdaq Composite slipped into the red.
United States Baker Hughes US Oil Rig Count climbed from previous 431 to 433
United States Baker Hughes US Oil Rig Count climbed from previous 431 to 433
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