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Forex Today: US inflation and jobs take centre stage alongside UK data
Forex Today: US inflation and jobs take centre stage alongside UK data
Poor US inflation data and increasing bets of a Fed rate cut in September, coupled with the US-China trade agreement, kept the US Dollar on the defensive throughout the day.
CPI
Inflation
DollarIndex
Currencies
GBPUSD
ECB's Villeroy: The ECB policy is not static
ECB's Villeroy: The ECB policy is not static
ECB board member François Villeroy de Galhau signalled that while the ECB is operating from a position of strength, its stance is far from fixed.
ECB
Currencies
Macroeconomics
EURUSD
InterestRate
Ted Cruz says there's no chance that the reconciliation bill will be ready by July 4
Ted Cruz says there's no chance that the reconciliation bill will be ready by July 4
,Speaker Mike Johnson’s self-imposed deadline for passing the measure has no chance.
The euro is knocking on the ceiling
The euro is knocking on the ceiling
1.15 has been a tough nut to crack
US Treasury Secretary Bessent: The US will set a global duty level for de minimis imports
US Treasury Secretary Bessent: The US will set a global duty level for de minimis imports
United States (US) Treasury Secretary Scott Bessent hit the newswires on Wednesday, giving his thoughts on the US debt ceiling, and also teased around the idea of the Trump administration introducing a "de minimis" tariff level, which would see US companies find some breathing room on tariffs up to
UnitedStates
TradeWar
Inflation
Politics
USD/CHF weakens as President Trump’s tax bill comes back in focus
USD/CHF weakens as President Trump’s tax bill comes back in focus
The Swiss Franc (CHF) is receiving a slight boost against the US Dollar (USD) during the American session on Wednesday, with a weaker Greenback driving gains.
USDCHF
Majors
Macroeconomics
Fundamental Analysis
Technical Analysis
Dow Jones Industrial Average test higher ground after US CPI beat
Dow Jones Industrial Average test higher ground after US CPI beat
The Dow Jones Industrial Average (DJIA) rose on Wednesday, bolstered by cooler-than-expected Consumer Price Index (CPI) inflation data for May, as well as a tentative trade policy framework following two days of trade talks in London.
DowJones
Equities
SEO
CPI
US treasury to auction off 10 year notes at the top of the hour
US treasury to auction off 10 year notes at the top of the hour
The 3-year note auction was met with average demand yesterday
GBP/USD climbs as US CPI miss fuels Fed rate cut bets
GBP/USD climbs as US CPI miss fuels Fed rate cut bets
GBP/USD advances on Wednesday during the North American session, boosted by a weaker-than-expected consumer inflation report in the United States (US), which increased speculation that the Federal Reserve (Fed) may reduce borrowing costs twice in 2025.
GBPUSD
Technical Analysis
Majors
Fundamental Analysis
WTI Oil prices rally on US-China trade optimism and declining inventories
WTI Oil prices rally on US-China trade optimism and declining inventories
West Texas Intermediate (WTI) crude oil is rallying on Wednesday, climbing more than 2% intraday as markets react positively to renewed momentum in US–China trade negotiations and a larger-than-expected drop in US crude inventories.
WTI
Oil
Energy
Commodities
China's Copper ore imports are falling from record highs – Commerzbank
China's Copper ore imports are falling from record highs – Commerzbank
China's export growth slowed more sharply than most analysts had expected in May. Apparently, the 90-day moratorium on most tariffs has not been as effective as anticipated, Commerzbank's commodity analyst Carsten Fritsch notes.
Metals
Commodities
Copper
Banks
China
Gold faces short-term selling – TDS
Gold faces short-term selling – TDS
Despite mounting short-term pressure in Gold futures, algorithmic traders may only briefly trim positions before re-accumulating, with broader participation metrics suggesting a potential local bottom in prices, analysts say, TDS' Senior Commodity Strategist Daniel Ghali notes.
Banks
Gold
Metals
Commodities
XAUUSD
EIA weekly US oil inventories -3644K vs -1960K expected
EIA weekly US oil inventories -3644K vs -1960K expected
Weekly US petroleum inventory data for the week ending June 6, 2025
Bessent: China needs to be a 'reliable partner' in trade negotiations
Bessent: China needs to be a 'reliable partner' in trade negotiations
Comments from the Treasury Secretary in House testimony
China
USD
Silver slips as price retreats from overbought territory on easing US-China trade talks
Silver slips as price retreats from overbought territory on easing US-China trade talks
Silver prices are easing on Wednesday, retreating from multi-year highs as bullish momentum fades and traders lock in profits. 
Silver
XAGUSD
Metals
Technical Analysis
AUD/USD climbs to new highs north of 0.6500
AUD/USD climbs to new highs north of 0.6500
The upward trend in the Aussie Dollar (AUD) continues unabated this week, with AUD/USD advancing for the third consecutive day and reaching new yearly peaks near the 0.6550 level.
AUDUSD
Majors
Currencies
Australia
GBP/USD holds above 1.3500 as USD loses strength after CPI
GBP/USD holds above 1.3500 as USD loses strength after CPI
Following Tuesday's sharp decline, GBP/USD stages a rebound and trades above 1.3500 in the American session on Wednesday. At the time of press, the pair was up 0.23% on the day at 1.3528.
Majors
GBPUSD
Currencies
CPI
EUR/USD climbs above 1.1450 after US inflation data
EUR/USD climbs above 1.1450 after US inflation data
EUR/USD gained traction and advanced toward 1.1500 in the early American session on Wednesday. The pair was last seen trading at 1.1465, rising 0.35% on a daily basis.
EURUSD
Majors
Technical Analysis
Currencies
Macroeconomics
US Pres. Trump: Our deal with China is done, subject to final approval
US Pres. Trump: Our deal with China is done, subject to final approval
In a post published on Truth Social on Wednesday, United States (US) President Donald Trump said that the trade deal with China is done and added that it is subject to his and Chinese President Xi Jinping's final approval.
UnitedStates
China
Macroeconomics
CAD soft and trading somewhat defensively despite higher oil prices – Scotiabank
CAD soft and trading somewhat defensively despite higher oil prices – Scotiabank
The Canadian Dollar (CAD) is entering Wednesday’s NA session with a marginal decline vs. the US Dollar (USD) as it trades somewhat defensively from Tuesday’s close, Scotiabank's Chief FX Strategist Shaun Osborne notes.
USDCAD
Banks
Technical Analysis
Canada
BOC
USD: All eyes on US CPI – Scotiabank
USD: All eyes on US CPI – Scotiabank
Markets are quiet and shrugging off the successful conclusion of US/ China talks, eyeing the outcome with a certain degree of skepticism.
Banks
DollarIndex
Technical Analysis