Articles

  DXY (U.S. Dollar Index):

Potential Direction: Bullish

Overall momentum of the chart: Bearish

The price has already bounced off the pivot and may continue its bullish move toward the 1st resistance

Pivot: 99.21

Supporting reasons: Identified as an overlap support, where renewed buying pressure could emerge to push the price higher.

1st support: 99.05

Supporting reasons: Identified as an overlap support, indicating a potential area where the price could again stabilize.

1st resistance: 99.54
Supporting reasons: Identified as a swing high resistance, indicating a potential area that could halt any further upward movement

Potential Direction: Bearish

Overall momentum of the chart:…

Global Markets:

•  Asian Stock Markets : Nikkei down 1.57%, Shanghai Composite down 0.43% Hang Seng down 0.93% ASX down 0.71%
• Commodities : Gold at $4,469.30 (-0.79%) Silver at $72.920 (-1.42%), Brent Oil at $95.43 (0.44%), WTI Oil at $93.16 (0.15%)
• Rates : US 10-year yield at 4.476, UK 10-year yield at 4.9010, Germany 10-year yield at 3.0237

• (USD) Unemployment Claims  122K  to 118K   expected

Asian markets fell sharply on Friday, led by South Korea, as weakness in U.S. technology stocks spread across the region. South Korea’s Kospi tumbled 4.11%, with major chipmakers Samsung Electronics and SK Hynix dropping 6% and 8%, respectively. The small-cap Kosdaq index also declined…

The French trade balance improved by €0.8 billion to -€5.6 billion in April, reflecting a narrowing in the overall deficit. This of course follows from the sharp declines recorded in February (-€3.5 billion) and March (-€1.3 billion).

The better showing was driven by a strong increase in exports (+€1.7 billion), which outpaced the growth in imports (+€0.9 billion).

Looking at the details, export growth owed much to increased deliveries of transport equipment. That saw an improvement of €0.7 billion, in particular for aeronautical products (+€0.5 billion). Besides that, exports of mechanical, electronic, and IT equipment also rose sharply (+€0.6 billion) on the month.

Meanwhile, import growth was mostly driven by supplies of natural…

US Stocks Push Higher Again on Renewed Middle East Optimism – Dow up 1.7%

US equity markets rallied strongly overnight as investors continued to price in the possibility of an end to the conflict in the Middle East. The Dow Jones surged 1.73% to a fresh record high of 51,561, while the S&P 500 added 0.41% to close at 7,584. The Nasdaq underperformed as AI doubts plagued the tech sector, slipping 0.09% to finish at 26,830. The gains came despite reports that Hezbollah had rejected the latest ceasefire proposal, with traders focusing instead on the prospect of further diplomatic progress in the region.

The improvement in risk sentiment weighed on traditional safe-haven assets, with the US Dollar Index falling 0.10% to 99.43. Treasury…

IC Markets Global – Asia Fundamental Forecast | 05 June 2026

What happened in the U.S. session?

A negative earnings shock from Broadcom and a still-firm U.S. labor backdrop. The result was a clear risk-off reaction in semiconductors and Nasdaq-linked instruments, while Treasury yields and the dollar were supported by stronger payroll data and a hawkish Fed message; the main instruments moving hardest were Broadcom shares, semiconductor ETFs/indexes, Nasdaq futures, and U.S. Treasuries.

What does it mean for the Asia Session?

U.S. monthly employment report (non-farm payrolls) due at 8:30 a.m. ET, which will be pivotal for expectations around the Federal Reserve’s next policy move. The Japanese yen is approaching the critical 160 per…

• Halifax house prices -0.1% vs +0.1% m/m expected
• Prior -0.1%

UK house prices dipped a little in May, with the average property price dropping to £298,806 compared with £299,251 in April. The annual growth continues to hold up by 0.5% though, reaffirming continued resilience in the market despite more challenging conditions.

Halifax notes that:

"Property price trends continue to reflect the uncertainty linked to developments in the Middle East. Despite recent cuts to mortgage rates, higher inflation expectations have kept borrowing costs above the level seen at the start of the year, continuing to stretch affordability for many buyers and temper demand.

Even so, overall activity has held up well, reflecting the underlying resilience of the…

It was another day where US president Trump said that a deal with Iran was "very close" and that was enough to turn the market mood around for the most part. It's not the first time that we have seen this sort of theatric from Trump and you can bet that it won't be the last.

And just like the story of the boy who cried wolf, markets are falling it for hook, line, and sinker every time. However, will there come a day just like in the fabled tale that the boy gets ignored and the wolf really does come?

Trump said yesterday that a deal was "very close" and that "I think things will happen over there" with regards to the Israel-Lebanon situation. This sort of optimism continues to rebuff market expectations and hopes for a deal. But even after…

• Explosion halts crude loading at Oman's Mina al Fahal in conflict escalation
• PBOC resumes injections after two-day pause that forced banks to deploy idle cash
• Nasdaq analysis today shows market started selling quite hard for this time of day
• RBA's Hauser due to speak, hawkish tilt expected after Harper's inflation warning
• PBOC sets USD/ CNY reference rate for today at 6.8157 (vs. estimate at 6.7735)
• South Korean markets hammered. KOSPI off 6%, won at a 17 year low vs. USD
• Japan renews yen intervention threat as reserves fall by record amount in May
• Fake news? : Trump officials in talks to take government equity stakes in US AI giants
• Japan fin min Katayama said ready to respond to FX. Yen shrugs it off.
• Iran threatens US bases and Hormuz as war…
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The data due from Japan today is unlikely to have much impact on the yen and other markets upon release.

• Trump: The US is in the middle of final negotiations to end the Iran war
• Putin: We are ready to make a deal with Ukraine peacefully
• Ukraine Zelensky to Putin: Enough of war. Ukraine proposes to end the war
• Fed's Schmid: Biggest risk facing the US economy is now inflation
• Treas Sec Bessent: "I wish job market had come out today".
• BOE Bailey: Markets have been orderly but stressed at times.
• Fed's Daly: Policy is in a good place and we are prepared to respond either way
• US Initial jobless claims 225K vs 213K estimate. Continuing Claims 1.777M vs 1.780M est.
• Hezbollah Lebanon leader: We only care about a complete ceasefire and Israeli withdrawal

Markets:

• S&P 500 up 0.4%
• WTI crude oil down $2.91 to $93.11
• Gold up $46 to $4478
• US 10-year yields down 1.4…
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In a letter to Russia's Putin, Ukraine's Zelenskiy proposed to end the war saying "Enough of war".

In a striking public letter addressed directly to Vladimir Putin, President Zelensky called for an immediate end to the war and proposed a face-to-face meeting at a neutral venue — naming Switzerland, Türkiye, and Arab states as potential hosts. He made clear that after 26 years, there is nothing for a Ukrainian leader to do in Moscow, just as there is nothing for a Russian leader to do in Kyiv.

Zelensky pushed back on the idea that Ukraine's fate could be decided without Ukraine. Referencing the Alaska talks between U.S. and Russian officials, he was blunt: Ukrainian and European issues are not resolved in Anchorage. He called for Europe and…

Treasury Secretary Bessent said:

• I wish job market had come out today

Then added that he has no prior knowledge of tomorrow's job data.

Then why say that?

The Trump administration, members of the Trump family, and many in Washington often appear to have access to information that can move markets, and critics argue that some have profited handsomely as a result. Whether perception or reality, concerns about accountability and oversight continue to linger. Treasury Secretary Scott Bessent may have simply misspoken in recent comments, but in today's environment many investors are left wondering where the line is between a harmless slip and something more significant. To critics, it can feel as though the watchdogs are asleep while potential…