Psychology for major markets Jun 26

EUR/USD – EUR/USD making new 4 year highs with the USD losing safe haven support as Mid-East concerns fade, and suffering from reports that Trump will name Powell’s replacement as Fed chair early.

USD/JPY – JPY still soft on the crosses but gaining against the USD as US yields drop.

EUR/GBP – Holding above 0.85 with GBP undermined slightly against the EUR by USD weakness.

AUD/USD – Found good support below 0.64 and retains scope for gains above 0.65 although rising expectations of RBA easing are limiting upside

Equities – S&P looking stretched above 6000 as some significant negative tariff impact still likely but all time highs within reach.