Psychology for major markets June 24
Pakistan says U.S.-Iran technical talks to only resume next week
EUR/USD – Fast approaching support at 1.1350 area. USD bids have been steadily strong after a deal in the Middle East as market rhetoric shift to Fed rates concern. The hawkish anticipation has kept the USD reaching level not seen since May 2025. The rate expectation differential may keep the Euro depressed for now but could not rule out a technical bounce soon.
USD/JPY – The pair continue to consolidate. Hawkish Fed are being met with hawkish BoJ summary of opinion, shifting market expectation for the BoJ. Yet, we take that will a pint of salt as political headwinds cannot be neglected. The threat of looming intervention could also be a reason for somewhat less weakness in the JPY.
AUD/USD – On way traffic since the break of support circa 0.7030. The Aussie is being doubled teamed by poor precious metal, risk asset and strong USD. The next support sits at 0.6827.
Equities & Others – Major equities are taking a breathe but may be proven shallow in later sessions.