Psychology for major markets June 8

EUR/USD – The Euro bleed further as geopolitical tension rises. Iran and Israel have been exchanging missiles over the weekend with petrochemical sites being targeted. Risk aversion builds up and see USD bids again.

USD/JPY –  USD/JPY is lingering around the 160 figure. We are yet to hear any jawboning as the latest rally is event driven. However, another rally of a figure and two shall be met with some kind of intervention.

AUD/USD – The Aussie found support around 0.7030 area. Yet, any rally will be hardly convincing without a structural improvement in the Middle East. 

Equities & Others – While U.S. market is staging a bounce, it should not be concluded that market participants mood is upbeat.