Psychology for major markets May 15

EUR/USD – USD generally softer as post-trade announcement euphoria fades, but 1.11-1.15 range now established and news will be required to break it.

USD/JPY – Rejecting the move above 148 but more significant JPY recovery will still likely need weaker US equity performance.

EUR/GBP – Finding support near 0.84 as USD corrects lower. More neutral tone likely unless we see significant news.

AUD/USD – Looks well supported below 0.64 and still has some upside potential if Asian equity markets maintain recent improvement.

Equities – S&P looking stretched near 6000 as some significant negative tariff impact still likely despite recent trade deals