Psychology for major markets Jun 12

EUR/USD – EUR/USD outperformed in its bounce on the weak US CPI and its now eying resistance around 1.15 rather than support around 1.14. .

USD/JPY – JPY getting support from unimpressive equity response to US-China trade progress as well as the weak US CPI.

EUR/GBP – GBP hit by weak labour market data, suggesting failure to hold levels below 0.84 may prove a longer term base.

AUD/USD – Threatening to move back below 0.65 on a dovish RBA view. Will need more risk positive sentiment in Asia to find support.

Equities – S&P looking stretched near 6000 as some significant negative tariff impact still likely, even with recent progress and a softer CPI.