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AUD/USD approaches the 200-day SMA
AUD/USD succumbed to the resumption of the strong selling pressure on Thursday, fading the previous day’s uptick and slipping back to the area of two-week lows near 0.6440. The slightly better tone in the US Dollar and poor prints from the Australian jobs report weighed down on the Aussie.
EUR/USD: Bulls need to clear 1.1630
EUR/USD navigated a narrow range around the 1.1480 zone on Thursday amid an inconclusive day in the Greenback, increasing geopolitical concerns in the Middle East and thin trade conditions following the US Juneteenth federal holiday.
Gold appears sidelined around $3,370
Gold now treads water near the $3,370 zone per troy punce as the NA session draws to a close on Thursday. The precious metal continues to closely follow the continuous geopolitical effervescence, thin trading circumstances, and a minor increase in the US Dollar.
Ripple Price Prediction: XRP downtrend targets $1.80 amid muted trading activity
Ripple (XRP) has upheld a technical bearish picture, trading at around $2.15 at the time of writing on Thursday. The subdued price action mirrors a quiet sentiment and the lack of conviction in the broader cryptocurrency market to sustain recovery.
DEEPER DIVE
Will the Fed's interest rate pause make mortgage loans more expensive?
What if high interest rates weren't a parenthesis, but the new normal? With many borrowers eagerly awaiting a drop in interest rates to finally take or refinance a mortgage loan, the US Federal Reserve (Fed) has just sent a clear message: there's no rush.
Triple Witching hour after Juneteenth holiday: What could go wrong?
Between expected volatility and the return of a Juneteenth public holiday, the US markets are approaching this triple witching hour in a new context. This Friday, June 20, will be no ordinary session on the financial markets, especially for short-term traders.
Why trading strategies should always consider changing market conditions BRANDED
Changing markets can disrupt even the most well-laid plans. Here’s how to adjust and come out on the other side. Most trading strategies are a roadmap that helps traders manage risk while setting goals they’d like to achieve.
CRYPTOCURRENCIES
Solana price slips as Canadian Sol Strategies files with US SEC to list on NASDAQ
Solana (SOL) price upside action stays subdued, leaving the smart contracts token vulnerable to downside risks. SOL is trading at $145 at the time of writing on Thursday, weighed down by elevated risks in the derivatives market.
Crypto Today: Bitcoin, Ethereum pare losses as XRP wobbles amid an unstable derivatives market
Price action in the broader cryptocurrency market remains subdued following the Federal Reserve (Fed) decision on Wednesday, which met expectations leaving interest rates unchanged in the range of 4.25% to 4.50%.
Three reasons why Pi Network could drop below $0.50
Pi Network (PI) is trading in the red around 1% at press time on Thursday, risking a potential drop below the $0.50 psychological level. As the bearish trend gains traction, there are three reasons why Pi Network could drop below $0.50 in June.
STOCKS
Banks gain on Wednesday morning ahead of Fed interest rate decision: Goldman Sachs, JPMorgan Premium
Goldman Sachs and JPMorgan are both outperforming the market on Wednesday morning ahead of the afternoon US interest rate decision by the Federal Reserve (Fed). JPMorgan and Goldman Sachs stock prices have risen 2.7% and 2.0%, respectively, at the time of writing.
GMS (GMS) Q4 earnings and revenues beat estimates
GMS came out with quarterly earnings of $1.29 per share, beating the Zacks Consensus Estimate of $1.15 per share. This compares to earnings of $1.93 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 12.17%.
WEEKLY FORECAST
EUR/USD Weekly Forecast: Trump and Fed’s arm wrestling overshadowed by geopolitical woes Premium
EUR/USD peaked at 1.1631 in the second week of June, shedding roughly 100 pips on Friday to settle at around 1.1540. The news feed was packed with trade war and geopolitical headlines that shaped the market’s sentiment.
GBP/USD Weekly Outlook: Pound Sterling awaits Fed and BoE rate decisions amid geopolitical tensions Premium
The Pound Sterling (GBP) stood tall for the third consecutive week against the US Dollar (USD) as the GBP/USD pair refreshed 39-month highs above 1.3600.
US Dollar Weekly Forecast: Down the abyss it goes Premium
This week, the US Dollar (USD) experienced increased selling pressure, momentarily slipping back to the 97.60 zone for the first time since March 2022 before retracting and concluding the week around the 98.00 neighbourhood, according to the US Dollar Index (DXY).
Gold Weekly Forecast: Safe-haven flows lift precious metal to near all-time highs Premium
Gold (XAU/USD) turned north and climbed to its highest level since early May above $3,400. The Federal Reserve’s (Fed) monetary policy announcements and developments surrounding the Israel-Iran conflict could continue to impact XAU/USD’s performance in the near term.
Bitcoin: BTC could slump to $100K amid Trump-Musk tussle
Bitcoin (BTC) tumbled to a low of $101,095 on Friday amid volatility in the market. The effect of the tussle between United States (US) President Donald Trump and Tesla Chief Elon Musk negatively influenced the NASDAQ and Tesla's stock price on Thursday, although both are recovering on Friday.
Week ahead – Markets brace for central bank barrage amid heightened uncertainty
Fed officials to stand pat as they await further clarity. A dovish BoJ could push rate hike expectations into 2026. Deflation fuels speculation about negative SNB rates. BoE may sound more dovish after disappointing UK data.
