Psychology for major markets Jun 02

EUR/USD – EUR/USD pressing above 1.14 as USD shows general weakness helped by more Trump threats of higher tariffs, but top end of the range near 1.15 will be hard to break.

USD/JPY – JPY benefiting from general USD weakness and firm JGB yields, but break below 140 likely to require significant turn lower in risk sentiment.

EUR/GBP – GBP still firm but failing to hold levels below 0.84, which may prove a longer term base.

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

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