News & Analysis

WTI crude jumps and AUD/JPY tumbles as Israel reportedly strikes Iran, fuelling fears of broader conflict and driving a rush into safe-haven assets.

U.S. inflation data is missing to the downside at a pace not seen in years, with markets responding by pricing in more cuts from the Fed. That’s hitting USD/CAD hard, breaking long-held support and leaving the trend vulnerable to further downside—unless oversold conditions trigger a snapback.

The ASX 200 is on track for a fifth straight weekly gain, but momentum is fading as it stalls below the February peak. With sentiment still risk-on, traders may favour dip buying if a pullback emerges.

The US dollar came under pressure on Thursday as weaker US data and growing Fed rate cut bets weighed on yields, lifting EUR/USD and other major pairs.

USD/CAD crashed through multi-year trend support with price plunging nearly 3% off the May high- risk for further losses. Battle lines drawn on the weekly technical chart.

Wall Street’s rally is losing steam despite upbeat US–China trade talks. Bearish patterns and fading momentum suggest the major US indices may be nearing a turning point.

The Japanese yen and Swiss franc outperformed on Thursday as rising geopolitical tensions drove safe-haven flows, weighing on USD/JPY and supporting further downside risk.

A weaker U.S. inflation print and progress on China trade talks weren’t enough to save the Aussie. Instead, it slid across the board, signalling traders see more spin than substance in Trump’s latest tariff deal.

The Australian dollar extended its recovery this week, but signs of exhaustion are appearing as AUD/USD and AUD/JPY approach key resistance levels. A bearish reversal pattern has formed on AUD/JPY, and AUD/USD is testing the 61.8% Fibonacci retracement level — both raising the risk of a short-term pullback.