Daily Markets

• Most Asian currencies were subdued on Tuesday as investors exercised caution awaiting the outcome of U.S.-China trade negotiations in London, while the Japanese yen edged down even as the Bank of Japan reiterated its readiness to raise interest rates if inflation remains on track. Regional currencies were under pressure as the dollar gained some ground ahead of U.S. consumer price index (CPI) inflation data, due on Wednesday.Senior U.S. officials, including Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, met Chinese Vice Premier He Lifeng in London to discuss tariff rollbacks, export controls, and broader bilateral trade concerns. These top officials will continue trade talks in London on Tuesday, aiming to resolve export control disputes over key goods like rare earths, which risk disrupting global supply chains slowing growth.Regional markets remain cautious as traders await actual outcomes rather than just talk. With U.S. inflation data looming later this week, investors are balancing hopes for trade de-escalation with broader macroeconomic dynamics. Bank of Japan Governor Kazuo Ueda said on Tuesday that the BOJ is ready to further raise interest rates once underlying inflation consistently reaches its 2% target. Though core consumer inflation has exceeded 2% for three years, underlying, demand-driven price pressures remain below target. The BOJ, which ended its large-scale stimulus last year and hiked short-term rates to 0.5% in January, is expected to hold steady at its June 16–17 meeting amid global uncertainty.

Gold – XAU

Gold on Monday its intraday high of US$3338.11/oz and low of $3293.34/oz. Gold is up by 0.407% at US$3325.29/oz.

Technicals in Focus:

On the daily charts, gold trades higher than 20DMA (2197). If it drops below this level, it could lead to 2,100. The MACD is currently above the zero line and the histograms are showing an increasing trend, indicating that there may be upward movement in the coming sessions. The RSI is currently at 83.04, which is in the overbought region, suggesting there may be selling pressure in the next 2 to 3 sessions. The Stochastic Oscillator is also in the overbought territory but has given a positive crossover, indicating a bullish stance for intraday trades, but rebound in expected in all the overbought indicators.

Trading Strategy: Sell on Strength

Sell below 3320-3420 keeping stop loss closing above 3420, targeting 3300-3287 and 3274-3244-3227. Buy in between 3300-3201 with risk below 3200 targeting 3370-3386-3404 and 3420-3430-3438.

Silver - XAG

Silver on Monday its intraday high of US$36.86/oz and low of US$35.89/oz settle down by up by 2.05% at US$36.73/oz.

Technicals in Focus:

On daily charts, silver is sustaining above 20MA (25.05), breakage above will lead to 23.73. MACD is below the zero line and histograms are increasing trend, bringing a bullish stance in the upcoming sessions. RSI is in the oversold region, indicating a sell signal for now. The Stochastic Oscillator is in the overbought region and gives a positive crossover to show an upside move for the intraday trade.

Trading Strategy: Buy on Dips

Buy in between 36.10-33.10, targeting 36.10-36.50-37.00 and 37.80-38.25-38.90 with stop loss should be placed on the breakage below 29.00. Sell in between 36.90-38.60 with a stop loss above 39.00 targeting 35.60-35.30-35.00 and 34.85-34.30-33.95-33.50.

Oil - WTI

Crude Oil on Monday high of US$64.57/bbl, an intraday low of US$62.17/bbl, and settled up by 0.691% to close at US$64.50/bbl.

Technicals in Focus:

On daily charts, oil is sustaining above its 100DMA i.e. 75.37, a support level, and breakage above will call for 77.48. MACD is above the zero line and histograms are in increasing mode will bring a bullish stance in the upcoming sessions. The Stochastic Oscillator is in the overbought region, giving a negative crossover to confirm a bearish stance; while the RSI is in the neutral region, more upside can be expected to reach the overbought region, which is highly probable.

Trading Strategy: Neutral to Sell

Sell in between 64.70-66.00 with stop loss at 66.00; targeting 63.52-62.20-61.00-60.25 and 59.80-59.25-55.50. Buy above 64.20-56.00 with risk daily closing below 56.00, targeting 64.98-65.60-66.00 and 66.60-67.20-68.00.

EUR/USD

EUR/USD on Monday an intraday low of US$1.1370/EUR, a high of US$1.1456/EUR, and settled the day down by 0.435% to close at US$1.1354/EUR.

Technicals in Focus:

On daily charts, prices are sustaining above 100DMA (1.0800), which becomes immediate support, a break below will target 1.0717. MACD is above the zero line and histograms are increasing mode, bringing a bullish view. Stochastic is in oversold territory, giving negative crossovers to the bullish outlook for intraday. 14D RSI is currently in a neutral region and giving no directions to consider right now.

Trading Strategy: Neutral to Sell

Sell below 1.1420-1.1740, targeting 1.1300 and 1.1250-1.1200 with stop-loss at daily closing above 1.1035. Buy above 1.1390-1.1010 with risk below 1.1010 targeting 1.1390-1.1420 and 1.1450-1.1470-1.1510.

GBP/USD

GBP/USD on Monday low of US$1.3518/GBP, a high of US$1.3574/GBP, and settled the day down 0.225% to close at US$1.3539/GBP.

Technicals in Focus:

On daily charts, prices are sustaining above 50DMA (1.2674) is becoming a support level. 14-D RSI is currently in a neutral region and direction is difficult to predict on an RSI basis. The Stochastic Oscillator is in oversold territory and gives a positive crossover to confirm a bullish stance. MACD is above the zero line, but histograms are increasing leading to movement.

Trading Strategy: Neutral to Buy

Based on the charts and explanations above; buy in between 1.3510-1.3040 with a target of 1.3570-1.3600 and 1.3645-1.3700- 1.3750-1.3790 with a stop loss closing below 1.3040. Sell in between 1.3550-1.3850 with targets at 1.3470-1.3400-1.3360-1.3300 with a stop loss of 1.3185.

USD/JPY

USD/JPY on Monday an intra‐day low of JPY143.96/USD an intraday high of 144.94/USD, and settled the day down by 0.227% at JPY144.48/USD.

Technicals in Focus:

In daily charts, JPY is sustaining above 100DMA (152.35), major support on the daily chart. 14-D RSI is currently in the overbought region and chances of downward are expected based on RSI. MACD is above the zero line but histograms are decreasing mode which might lead to downward movement. The Stochastic Oscillator is in overbought territory and signaling to sell as it has given a negative crossover to confirm a bearish stance.

Trading Strategy: Neutral to Sell

Sell below 144.50-148.00 with risk above 149.00 targeting 145.20-144.50-143.90 and 143.00-142.50-141.90. Long positions above 143.90-138.00 with targets of 145.20-146.10-146.60-147.40 and 148.10-148.90-149.35 with stops below 138.00.