Select Language

USD: FX markets in holding pattern awaiting fresh catalyst - Scotiabank

Breaking news

USD: FX markets in holding pattern awaiting fresh catalyst - Scotiabank

  • X
  • facebook
  • LINE
  • RSS

  • X
  • facebook
  • LINE
  • RSS
update 2025.06.10 20:27
USD: FX markets in holding pattern awaiting fresh catalyst - Scotiabank

update 2025.06.10 20:27

Currency markets are generally quiet as we move into Tuesday's NA session. All of the G10 currencies are trading in a relatively tight range, with the exception of GBP as it underperforms on the back of a weaker domestic employment release. Markets are waiting for a catalyst as the US and China continue their second day of talks in London, and preliminary reports appear constructive, Scotiabank's Chief FX Strategist Shaun Osborne notes.

USD quietly consolidating as markets await resolution of US/China talks

"The holding pattern is apparent across most asset markets, as we note a tight consolidation in US equity futures at fresh local highs -- and just two percent shy of their record from mid-February. The US 10Y yield has pulled back modestly from the 4.50% level it had reached in the aftermath of last week's payrolls, and the German 10Y yield is fading back to the lower end of its recent range and drifting toward 2.50%."

"In commodities, oil prices are well supported as WTI ignores recent OPEC developments and concerns about Saudi-driven oversupply to extend its recovery above $65/bbl to reach fresh local highs. Copper prices are quietly consolidating at the upper end of their recent range as gold prices consolidate in the middle of the flat range that has defined its price action since reaching its record high in April."

"In terms of data, the US NFIB small business optimism release delivered a better than expected recovery, printing its first m/m gain following a steady run of deterioration since December. The US calendar is empty ahead of Wednesday's CPI release, leaving the focus squarely centered on headline risk as the Fed is in its quiet period ahead of next Wednesday's policy meeting."


Date

Created

 : 2025.06.10

Update

Last updated

 : 2025.06.10

Related articles


Show more

FXStreet

Financial media

arrow
FXStreet

FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.

Was this article helpful?

We hope you find this article useful. Any comments or suggestions will be greatly appreciated.  
We are also looking for writers with extensive experience in forex and crypto to join us.

please contact us at [email protected].

Thank you for your feedback.
Thank you for your feedback.

Most viewed

Silver Price Forecast: XAG/USD advance stalls near $37.00 as holiday lull masks bullish setup

Silver price traded sideways on Friday, remaining virtually unchanged at $36.84, due to thin trading volumes as US markets were closed for a holiday.
New
update2025.07.05 06:32

EUR/USD holds near highs despite tariff jitters, eyes on EU data next week

EUR/USD posted minimal gains of 0.18% on Friday amid thin liquidity conditions, as markets in the United States are closed due to the Independence Day holiday. The shared currency is poised to close the week with gains of 0.53% despite the release of solid US economic data this week.
New
update2025.07.05 05:59

AUD/USD retreats as risk-off mood builds ahead of Trump's tariff deadline

The Australian Dollar (AUD) weakened against the US Dollar (USD) on Friday amid a low-volume trading session and a risk-off tone ahead of US President Donald Trump's July 9 tariff deadline.
New
update2025.07.05 05:14

USD/JPY Price Forecast: Eyes breakout as triangle narrows, but lacks momentum

The US Dollar (USD) is trading slightly lower against the Japanese Yen (JPY) on Friday, with the USD/JPY hovering around 144.50 in subdued holiday-thinned conditions as US markets remain closed for Independence Day.
New
update2025.07.05 04:10

NZD/USD risks further downside as Kiwi tests critical support at 0.6050

The New Zealand Dollar (NZD) is weakening against the US Dollar (USD) on Friday as market participants weigh near-term resistance against a weakening bullish structure.
New
update2025.07.05 04:04

Gold price shines as USD slips, trade war fuels safe-haven demand

Gold price resumes its uptrend on Friday, poised to print gains of over 1.50% for the week as the US Dollar is on the back foot amid thin liquidity conditions following the closure of US markets in celebration of Independence Day. A slight escalation of the trade war boosted bullion prices.
update2025.07.05 02:41

GBP/JPY retreats as safe-haven demand rises ahead of Trump's tariff deadline

The Japanese Yen (JPY) is strengthening against the British Pound (GBP) on Friday as markets turn cautious ahead of the weekend.
update2025.07.05 02:16

WTI Crude Oil consolidates near key support, OPEC+ decision looms

West Texas Intermediate (WTI) Crude Oil prices remain subdued on Friday, extending losses from the previous day and hovering near the mid-$65s amid thin holiday trading, lingering demand concerns, and a lack of fresh catalysts.
update2025.07.05 01:12

BoE's Taylor: Disinflationary forces are building

Bank of England (BoE) rate-setter Alan Taylor noted late on Friday that downside pressures are continuing to build up underneath the UK's economy, signaling that early rate cuts may be needed ahead of a questionable forecasting period.
update2025.07.05 01:00

EUR/USD firms as tariffs and Trump's tax bill dominate headlines

The Euro (EUR) is holding modest gains against the US Dollar (USD) in thin trading conditions on Friday. With US markets closed in observance of Independence Day, liquidity is limited.
update2025.07.05 00:35

Disclaimer:arw

All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.

The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.

  • Facebook
  • Twitter
  • LINE

Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy

I agree
share
Share
Cancel