Psychology for major markets June 29
Crossfire ended early
EUR/USD – EUR/USD found some support circa 1.1345 area and continue its rebound. Sustained rally will require more upbeat risk mood which could be a choppy road.
USD/JPY – The pair continue to consolidate but is gathering steam for higher grounds. USD/JPY is teasing a break through of 162, yet we doubt intervention will be imminent without a swift rally. The macro story is not lining up with yields moderate and should be easier to be taken care of from intervention point of view.
AUD/USD – The Aussie found support around June low. The lack of strong risk appetite and precious metal is capping the recovery for AUD/USD.
Equities & Others – Major equities are trading individually with U.S. equities leading the pack. Market seems to be more upbeat as the crossfire didn't last.