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AI-Enhanced Forex News Archive

Professional trading insights from Monday, June 2, 2025

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News Statistics for Monday, June 2, 2025

11
Total Articles
2
Bullish
6
Bearish
3
Neutral

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Archive date: Monday, June 2, 2025

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Forexlive

Crude oil futures and settle at $62.52

The price traded as high as $63.84 and as low as $61.55 during the session.Technically, the rally extended into a key swing area between $63.52 and $64.14 , but still fell short of the 38.2% retracement of the 2025 decline from the January high, which comes in at $64.88.On the downside, support is now eyed at the 100- and 200-hour moving averages, which are converging near $61.59 and $61.52, respectively.
Source: Finnhub
Forexlive

USD weakens as Trump-Xi call delayed amid China rare earth restrictions

The US dollar index fell 0.5% to 104.20 as markets reacted nervously to escalating US-China trade tensions. China's April export restrictions on seven rare earth metals, crucial for technology manufacturing, have intensified concerns about supply chain disruptions. The postponement of the Trump-Xi call originally scheduled for this week added to market uncertainty, pushing investors toward safe-haven currencies. The Japanese yen strengthened 0.8% against the dollar to 154.30, while the Swiss franc gained 0.6%. Gold surged 1.2% to $2,045 per ounce as risk-off sentiment dominated trading. Technical indicators show USD/JPY breaking below the 155.00 support level, with next support at 153.50. The dollar's weakness could accelerate if diplomatic talks fail to materialize this week, potentially testing the 103.50 level on the DXY. Traders should monitor any developments in US-China communications and prepare for heightened volatility across major pairs.
USDJPY USDCHF
Sentiment: Very Negative
Source: Finnhub
financefeeds.com

USD slides across board as China tensions trigger risk-off sentiment

Major USD pairs experienced significant selling pressure Monday, with EUR/USD climbing 0.7% to 1.0920 and GBP/USD advancing 0.6% to 1.2580. The dollar weakness stems from escalating US-China trade tensions following China's rare earth export restrictions implemented in April. Safe-haven flows dominated as USD/JPY plunged 1.1% to 153.85, breaking below key technical support at 155.00. The Swiss franc outperformed, with USD/CHF dropping 0.8% to 0.9120. Commodity currencies showed mixed performance, with AUD/USD gaining 0.4% despite risk-off conditions, supported by rising gold prices. Market participants await this week's scheduled Trump-Xi call and upcoming US ISM Services data. Technical analysis indicates further dollar weakness likely if the DXY breaks below 104.00 support. Traders should expect continued volatility as geopolitical uncertainties weigh on risk appetite, favoring defensive positioning in JPY and CHF.
EURUSD GBPUSD USDJPY USDCHF AUDUSD
Sentiment: Negative
Source: Marketaux
zerohedge.com

Gold spikes 1.5% as oil jumps on US-China trade war escalation fears

Safe-haven assets surged Monday as renewed US-China trade tensions rattled global markets. Gold futures climbed 1.5% to $2,052 per ounce, the highest level in three weeks, while WTI crude oil jumped 2.1% to $78.40 per barrel on supply disruption concerns. The commodity rally coincided with a broad USD selloff, with the dollar index dropping 0.6% to 103.95. Equity futures tumbled, with S&P 500 futures down 1.2%, reinforcing the risk-off environment. Currency markets reflected the defensive positioning, as USD/JPY fell 1.2% to 153.70 and EUR/USD rose 0.8% to 1.0935. The postponement of the Trump-Xi call and China's rare earth export restrictions have intensified market fears of prolonged trade disputes. Technical indicators suggest gold could test $2,075 resistance if tensions persist. Forex traders should monitor commodity movements closely as they often signal broader risk sentiment shifts affecting major currency pairs.
USDJPY EURUSD
Sentiment: Very Negative
Source: Marketaux
forexlive.com

EUR/USD extends gains as dollar weakness persists into June trading

EUR/USD maintained its bullish momentum into June, rising 0.4% to 1.0885 during European morning trading. The pair benefited from continued dollar weakness driven by US-China trade concerns and disappointing US economic data from late May. European economic indicators showed resilience, with German factory orders unexpectedly rising 0.8% month-over-month. The dollar index extended losses to 104.15, marking a third consecutive day of declines. Technical analysis shows EUR/USD breaking above the 1.0870 resistance level, with next targets at 1.0920 and the psychological 1.1000 level. The 50-day moving average at 1.0825 now acts as support. Market positioning data reveals net-long EUR positions increasing for the fourth straight week. Traders await Wednesday's ECB meeting minutes and Friday's US Non-Farm Payrolls for further directional cues. The prevailing risk-off sentiment continues to favor the euro over the dollar.
EURUSD
Sentiment: Positive
Source: Marketaux
forexcrunch.com

USD/CAD drops to 1.3580 as BoC pause expectations boost Canadian dollar

USD/CAD declined 0.6% to 1.3580 Monday, driven by Canadian dollar strength following upbeat GDP data and expectations the Bank of Canada will pause rate cuts. Canada's Q1 GDP grew 2.9% annualized, beating the 2.2% forecast, while monthly GDP for March rose 0.3%. The strong economic performance reduced market expectations for a BoC rate cut at the June meeting, with odds dropping to 25% from 60% previously. Oil prices jumping 2.1% to $78.40 provided additional CAD support. Technical analysis shows USD/CAD breaking below the 1.3600 support level, targeting 1.3550 next. The 200-day moving average at 1.3520 represents key support. Dollar weakness from US-China tensions compounded the pair's decline. Traders should monitor Tuesday's Canadian manufacturing PMI and Wednesday's BoC Business Outlook Survey for further CAD direction. The bearish momentum could extend toward 1.3500 if oil prices remain elevated.
USDCAD
Sentiment: Very Negative
Source: Marketaux
Forexlive

Central Banks Signal Diverging Rate Paths: USD Faces Pressure

Market expectations show significant divergence in central bank rate cut pricing for the remainder of 2025, with the RBA leading at 72 basis points of cuts expected, followed by the SNB at 55 bps and ECB at 54 bps. The Fed pricing stands at 53 bps, while the BoE and BoC show more modest expectations at 39 and 37 bps respectively. Notably, the RBNZ saw reduced rate cut expectations (29 bps) after delivering a less dovish policy stance than anticipated. The BoJ remains the outlier with 18 bps of rate hikes priced in. This divergence is creating opportunities for carry trades, particularly favoring commodity currencies against the euro and Swiss franc. The relatively aggressive rate cut expectations for major central banks suggest continued pressure on their respective currencies, with USD likely to face headwinds as Fed easing expectations remain elevated.
EURUSD GBPUSD USDCAD AUDUSD NZDUSD USDCHF USDJPY
Sentiment: Neutral
Source: Finnhub
benzinga.com

USD Weakens as Asian Markets Fall, Oil Surges 3%

The US dollar faced selling pressure during Asian trading hours as regional equity markets declined and oil prices surged 3%, creating a risk-off environment that paradoxically weighed on the greenback. Asian stock indices retreated following Friday's mixed US close, where the S&P 500 ended flat despite posting strong monthly gains. The combination of rising oil prices and equity weakness suggests growing concerns about stagflation risks, which could complicate central bank policy decisions. Higher oil prices typically support commodity currencies like CAD and NOK while pressuring oil-importing nations' currencies. The dollar's weakness despite the risk-off tone indicates traders may be positioning for softer US economic data ahead. Technical levels show USDJPY testing support near 156.50, while EURUSD pushed above 1.0550 resistance. Traders should monitor oil price movements closely as sustained gains could further impact currency dynamics.
USDJPY EURUSD USDCAD
Sentiment: Negative
Source: Marketaux
forexlive.com

USD Slides Broadly as June Trading Begins

The US dollar opened June trading with broad-based weakness, declining against all major currencies as traders repositioned following the month-end flows. The greenback's slide reflects growing concerns about US economic momentum and expectations for Federal Reserve rate cuts totaling 53 basis points by year-end. EURUSD gained 0.4% to test 1.0580, while GBPUSD advanced 0.3% toward 1.2650. The dollar's weakness was particularly pronounced against commodity currencies, with AUDUSD jumping 0.5% to 0.6680 and USDCAD dropping to 1.3620. Technical indicators suggest the DXY dollar index has broken below key support at 104.50, opening the path for further declines toward 104.00. The move appears to be driven by position squaring after the dollar's recent rally, combined with month-end portfolio rebalancing flows. Traders should watch for any reversal signals as oversold conditions develop.
EURUSD GBPUSD AUDUSD USDCAD
Sentiment: Negative
Source: Marketaux
Forexlive

USD Faces Pressure from Key PMI Data Release Day

Multiple PMI releases scheduled for Monday could drive significant forex volatility, particularly for USD pairs. The European session will feature final PMI readings for the UK and major European economies, though market impact is expected to be limited unless substantial revisions occur. The main focus shifts to the American session with three critical releases: Canadian Manufacturing PMI, S&P Global US Manufacturing PMI (final), and the influential ISM Manufacturing PMI. Recent US manufacturing data has shown persistent weakness, with expectations pointing to continued contraction below the 50.0 expansion threshold. Any disappointment in the ISM data could weaken the dollar against major counterparts, particularly EUR/USD and GBP/USD. Traders should monitor the 50.0 level closely, as readings below this mark signal manufacturing contraction and could influence Federal Reserve policy expectations. Technical setups suggest USD pairs are at key inflection points ahead of these releases.
EURUSD GBPUSD USDCAD
Sentiment: Neutral
Source: Finnhub
Forexlive

USD/CNY faces pressure as Dimon warns US-China trade tensions persist

USD/CNY remains elevated near 7.25 levels as JPMorgan CEO Jamie Dimon's comments at the Reagan National Economic Forum highlight persistent US-China trade frictions. Dimon warned that China will not "bow down" to US trade demands, suggesting prolonged tensions ahead. He emphasized the need for the US to address internal issues including regulation, taxation, and immigration policy to maintain competitiveness. The CEO characterized China as a "potential adversary" that is "doing a lot of things well," underscoring the strategic competition between the world's two largest economies. These comments reinforce market expectations of sustained trade uncertainty, supporting dollar strength against the yuan. Technical indicators show USD/CNY testing resistance at 7.2550, with support at 7.2300. Traders should monitor upcoming trade policy announcements and Chinese economic data for directional cues in the pair.
USDCNY
Sentiment: Positive
Source: Finnhub
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M15, H1, H4, D1
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