Psychology for major markets June 9
US president Trump says he may have an "idea" on Iran deal within a few days
EUR/USD – The Euro rebounded from support around 1.1490 area and is staging a rally after a terrible Friday. There hasn't been anything meaningful coming out from the geopolitical front so it is just ebbs and flows.
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. And indeed, the pair is little changed on Monday and Tuesday so far.
Equities & Others – While U.S. market is staging a bounce, it should not be concluded that market participants mood is upbeat.