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Forex Today: US May inflation report to ramp up market volatility
Forex Today: US May inflation report to ramp up market volatility
Here is what you need to know on Wednesday, June 11:
Majors
Macroeconomics
Currencies
Commodities
EconomicIndicator
WTI Price Forecast: Oil remains bullish with downside attempts capped at $63.45
WTI Price Forecast: Oil remains bullish with downside attempts capped at $63.45
Oil prices are showing a moderate reversal on Wednesday, as the vague news about the US-China trade deal has been taken with more scepticism than enthusiasm.
Oil
WTI
Technical Analysis
Energy
Bullish
European indices mostly little changed to start the day
European indices mostly little changed to start the day
A more tentative mood as US futures are also holding more cautious
EU aims for US trade talks to extend past Trump’s July deadline – Bloomberg
EU aims for US trade talks to extend past Trump’s July deadline – Bloomberg
Citing people familiar with the matter, Bloomberg reported on Wednesday that the European Union (EU) believes trade negotiations with the United States (US) to extend beyond President Donald Trump’s July 9 deadline.
UnitedStates
TradeWar
Europe
EURUSD
AIMS
USD/CAD trades above 1.3650 as easing US-China tensions offset impact of higher Oil prices
USD/CAD trades above 1.3650 as easing US-China tensions offset impact of higher Oil prices
USD/CAD retraces its recent losses, trading around 1.3680 during the Asian hours on Wednesday. However, the upside of the USD/CAD pair could be limited as the commodity-linked Canadian Dollar (CAD) possibly receives support from the improved crude Oil prices.
USDCAD
Macroeconomics
Canada
Majors
Oil
NZD/USD weakens below 0.6050 on renewed US Dollar demand, eyes on US CPI data
NZD/USD weakens below 0.6050 on renewed US Dollar demand, eyes on US CPI data
The NZD/USD pair attracts some sellers to around 0.6030 during the early European session on Wednesday, bolstered by renewed US Dollar (USD) demand.
NZDUSD
Majors
Macroeconomics
What are the main events for today?
What are the main events for today?
All eyes on the US CPI report
market overview
Eurostoxx futures -0.2% in early European trading
Eurostoxx futures -0.2% in early European trading
A more cautious mood awaiting the final details of the US-China meeting
Crude Oil price today: WTI price bullish at European opening
Crude Oil price today: WTI price bullish at European opening
West Texas Intermediate (WTI) Oil price advances on Wednesday, early in the European session. WTI trades at $64.11 per barrel, up from Tuesday’s close at $63.86.
Oil
WTI
Commodities
Bullish
USD/MXN remains on the defensive near 19.00 ahead of US CPI release
USD/MXN remains on the defensive near 19.00 ahead of US CPI release
The USD/MXN pair remains on the defensive near 19.05 during the early European session on Wednesday. The Mexican Peso (MXN) strengthens against the US Dollar (USD), its strongest level in more than nine months, bolstered by a potential trade deal between the United States and Mexico. 
Macroeconomics
USDMXN
Mexico
EmergingMarkets
EUR/GBP sits near one-month peak, comfortably above mid-0.8400s amid rising BoE rate cut bets
EUR/GBP sits near one-month peak, comfortably above mid-0.8400s amid rising BoE rate cut bets
The EUR/GBP cross touched a one-month high, around the 0.8465-0.8470 region during the Asian session on Wednesday, though it lacks follow-through buying. The fundamental backdrop, however, suggests that the path of least resistance for spot prices is to the upside.
EURGBP
BOE
ECB
Crosses
Currencies
FX option expiries for Jun 11 NY cut
FX option expiries for Jun 11 NY cut
FX option expiries for Jun 11 NY cut at 10:00 Eastern Time vi a DTCC can be found below.
Options
Currencies
AUD/JPY clings to gains near 94.50 as investors doubt BoJ’s rate hike plans
AUD/JPY clings to gains near 94.50 as investors doubt BoJ’s rate hike plans
The AUD/JPY pair holds onto four-day rally to near 94.50 during Asian trading hours on Wednesday. The cross exhibits strength as investors start doubting over whether the Bank of Japan (BoJ) will raise interest rates again this year.
AUDJPY
BOJ
InterestRate
UnitedStates
China
Dollar lightly changed ahead of European trading
Dollar lightly changed ahead of European trading
US and China hammer out a plan to ease tensions
market overview
EUR/JPY Price Forecast: Retains bullish bias above 165.50
EUR/JPY Price Forecast: Retains bullish bias above 165.50
The EUR/JPY cross posts modest gains near 165.50 during the early European session on Tuesday. The Japanese Yen (JPY) softens against the Euro (EUR) amid the improved risk sentiment as positive developments from US-China trade talks undermine the JPY's safe-haven status.
EURJPY
Technical Analysis
Crosses
Bullish
EUR/USD holds losses near 1.1400 due to easing tariff tensions between US, China
EUR/USD holds losses near 1.1400 due to easing tariff tensions between US, China
EUR/USD loses ground after registering gains in the previous two consecutive sessions, trading around 1.1400 during the Asian hours on Wednesday. The pair depreciates as the US Dollar receives support from easing tariff tensions between the United States (US) and China.
EURUSD
Macroeconomics
Eurozone
Majors
USD/CHF Price Forecast: Consolidates below 0.8245-0.8250 horizontal barrier
USD/CHF Price Forecast: Consolidates below 0.8245-0.8250 horizontal barrier
The USD/CHF pair extends its consolidative price move through the Asian session on Wednesday and remains confined in a range held over the past two weeks or so amid mixed cues.
USDCHF
Technical Analysis
Majors
Currencies
BoJ to keep interest rates unchanged through year-end - Reuters Poll  
BoJ to keep interest rates unchanged through year-end - Reuters Poll  
The Bank of Japan (BoJ) will not raise another interest rate again this year due to uncertainty over US tariff policy, according to a slight majority of economists in a Reuters poll who expect the next 25 basis points (bps) increase in early 2026.
BOJ
InterestRate
Macroeconomics
India Gold price today: Gold rises, according to FXStreet data
India Gold price today: Gold rises, according to FXStreet data
Gold prices rose in India on Wednesday, according to data compiled by FXStreet.
Gold
Commodities
Metals
India
USD/INR falls for fifth straight trading day ahead of US inflation data
USD/INR falls for fifth straight trading day ahead of US inflation data
The Indian Rupee (INR) posts a fresh weekly high near 85.43 against the US Dollar (USD) during European trading hours on Wednesday.
USDINR
India
EmergingMarkets
Asia
SEO
Gold price clings to intraday gains near weekly top ahead of US CPI report
Gold price clings to intraday gains near weekly top ahead of US CPI report
Gold price (XAU/USD) climbs to the top end of the weekly range during the first half of the European session on Wednesday amid a combination of supporting factors.
Gold
Commodities
TradeWar
Fed
SEO
US Dollar Index stays above 99.00 ahead of US CPI data
US Dollar Index stays above 99.00 ahead of US CPI data
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is extending its gains for the second successive day and trading higher at around 99.10 during the Asian hours on Wednesday.
Macroeconomics
DollarIndex
UnitedStates
GBP/USD extends downside below 1.3500 ahead of US CPI release
GBP/USD extends downside below 1.3500 ahead of US CPI release
The GBP/USD pair extends the decline to around 1.3475 during the Asian trading hours on Wednesday. The Pound Sterling (GBP) weakens against the US Dollar (USD) due to a weaker UK employment report.
Majors
GBPUSD
Macroeconomics
Breaking: US CPI inflation edges higher to 2.4% in May vs. 2.5% forecast
Breaking: US CPI inflation edges higher to 2.4% in May vs. 2.5% forecast
Inflation in the United States (US), as measured by the change in the Consumer Price Index (CPI), rose to 2.4% on a yearly basis in May from 2.3% in April, the US Bureau of Labor Statistics (BLS) reported on Wednesday. This reading came in below the market expectation of 2.5%.
Breaking
Inflation
UnitedStates
CPI
SEO
ForexLive Asia-Pacific FX news wrap: Lacklustre US-China trade talks weigh on risk FX
ForexLive Asia-Pacific FX news wrap: Lacklustre US-China trade talks weigh on risk FX
Forex news for Asian trading on Wednesday, June 11, 2025
Session wrap
Wrap Asia
Silver Price Forecast: XAG/USD maintains position above $36.50 near 13-year highs
Silver Price Forecast: XAG/USD maintains position above $36.50 near 13-year highs
Silver price (XAG/USD) holds ground after registering over a 0.50% loss in the previous session, trading around $36.60 per troy ounce during the Asian hours on Wednesday. The price of the grey metal maintains a position near a 13-year high of $36.89, which was reached on Monday.
XAGUSD
Silver
Commodities
Macroeconomics
Japanese Yen remains on the back foot; lacks bearish conviction amid relatively hawkish BoJ expectations
Japanese Yen remains on the back foot; lacks bearish conviction amid relatively hawkish BoJ expectations
The Japanese Yen (JPY) extends its intraday consolidative price move through the early European session on Wednesday and is currently placed near a two-week low touched against its American counterpart the previous day.
USDJPY
TradeWar
BOJ
Inflation
SEO
Australian Dollar struggles despite easing US-China tariff tensions, US CPI eyed
Australian Dollar struggles despite easing US-China tariff tensions, US CPI eyed
The Australian Dollar (AUD) declines against the US Dollar (USD) on Wednesday, retracing its recent gains. However, the AUD/USD pair may gain ground amid easing trade tensions between the United States (US) and China.
AUDUSD
Macroeconomics
Majors
Australia
SEO
WTI attracts some buyers above $63.50 on optimism around US-China trade talks
WTI attracts some buyers above $63.50 on optimism around US-China trade talks
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $63.80 during the Asian trading hours on Wednesday. The WTI price edges higher as traders digest the result of trade talks between the United States and China.
Oil
WTI
Commodities
Macroeconomics
OPEC Secretary General says oil demand growth to continue, no peak in sight
OPEC Secretary General says oil demand growth to continue, no peak in sight
OPEC Secretary General Haitham Al Ghais said on Tuesday that oil demand growth will remain robust over the next two and a half decades as the world population grows, per Reuters. 
Oil
WTI
Commodities
OPEC
Macroeconomics
PBOC sets USD/CNY reference rate at 7.1815 vs. 7.1840 previous
PBOC sets USD/CNY reference rate at 7.1815 vs. 7.1840 previous
On Wednesday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1815 as compared to the previous day's fix of 7.1840 and 7.1801 Reuters estimate.
USDCNY
PBOC
CentralBanks
Currencies
US, China trade "handshake for a framework" not generating enthusiasm in Asia trade
US, China trade "handshake for a framework" not generating enthusiasm in Asia trade
Mix in the court order allowing Trump's tariffs to proceed unhindered
US appeals court allows US President Donald Trump tariffs to stay in place  - Bloomberg
US appeals court allows US President Donald Trump tariffs to stay in place - Bloomberg
A federal appeals court has ruled that US President Donald Trump’s broad tariffs can remain in effect while legal appeals continue, per Bloomberg. 
UnitedStates
Macroeconomics
Politics
US, China officials agree on plan to ease trade tensions - Bloomberg
US, China officials agree on plan to ease trade tensions - Bloomberg
The United States (US) and China agreed to a preliminary deal on how to implement the consensus the two sides reached in Geneva, per Bloomberg.
UnitedStates
China
TradeWar
Macroeconomics
U.S. appeals court allows Trump tariffs to stay in place during legal challenge
U.S. appeals court allows Trump tariffs to stay in place during legal challenge
Trump’s broad tariffs can remain in effect while legal appeals continue.
USD/CAD flat lines above 1.3650 as investors track US-China trade talk progress, US CPI data
USD/CAD flat lines above 1.3650 as investors track US-China trade talk progress, US CPI data
The USD/CAD pair holds steady near 1.3670 during the early Asian session on Wednesday. Easing trade tension between the United States (US) and China could underpin the US Dollar (USD). Investors will closely monitor the result of the US-China trade talks.
USDCAD
Majors
Macroeconomics