Posted at 24 June 2026 / Categories Market Roundups
Market Roundup
• Japan Corporate Services Price Index (CSPI) (YoY) 3.3% ,3.3% forecast,3.3% previous
• Australia Weighted mean CPI (YoY) (May) 4.00% , 4.30% forecast , 4.20% previous
Looking Ahead Economic Data (GMT)
•08:00 German Business Expectations (Jun) 85.0 forecast , 83.8 previous
•08:00 German Current Assessment (Jun) 86.0 forecast ,86.1 previous
•08:00 German Ifo Business Climate Index (Jun) 85.6 forecast , 84.9 previous
•Looking Ahead Events And Other Releases (GMT)
• 10:00 German Buba President Nagel Speaks
Currency Forecast
EUR/USD : The euro edged lower on Wednesday as investors sought shelter from a tech stock selloff and prepared for rate hikes from the Federal Reserve.Stock market volatility continued after a broad selloff of technology and semiconductor sectors dragged global shares lower, sparking safe-haven demand for the dollar. Meanwhile, expectations of a U.S. rate hike continued to build with Fed officials sounding increasingly hawkish as the economy remains strong. Markets are pricing in a 36% chance of a hike at the July meeting, up from 8.5% a week ago, according to CME FedWatch. For September, the chance of a rate rise has risen above 70% from 29.1%.. Immediate resistance can be seen at 1.1487(Daily high), an upside break can trigger rise towards 1.1577(38.2%fib).On the downside, immediate support is seen at 1.1351(Daily low), a break below could take the pair towards 1.1329(Lower BB).
GBP/USD: The pound dipped on Wednesday as dollar firmed on Federal Reserve rate hike expectations and safe-haven demand.. The U.S. central bank struck a much more hawkish tone at last week’s policy meeting, prompting analysts to revise their rate outlook, shifting from expectations of no hikes to pencilling in one or two increases this year. Traders are pricing in three Fed rate increases this year, compared with bets of one hike before last week's Fed meeting, according to ?the CME FedWatch Tool. Investors now await the U.S. Personal Consumption Expenditures ?data, the ?Fed's preferred inflation gauge, due on Thursday, for further cues on monetary policy . Immediate resistance can be seen at 1.3326(38.2%fib), an upside break can trigger rise towards 1.3373(SMA 20).On the downside, immediate support is seen at 1.3163(23.6%fib), a break below could take the pair towards1.3135(Lower BB).
AUD/USD: Australian dollar eased on Wednesday as investors digested a mixed Australian inflation report. Australian consumer prices fell in May due to lower fuel and travel costs, but stronger-than-expected core inflation kept the possibility of another RBA rate hike alive. Australian CPI fell 0.7% in May from April, while annual inflation slowed to 4.0% from 4.2%, according to ABS data. Both readings came in below forecasts for a 0.4% monthly decline and 4.3% annual inflation. The trimmed mean measure of core inflation increased by 0.4% in the month, above forecasts of 0.3%, pushing the annual pace up to 3.6%.The Reserve Bank of Australia has hiked rates three times this year in an effort to get core inflation back into its target band of 2% to 3%. Immediate resistance can be seen at 0.7080(SMA 20), an upside break can trigger rise towards 0.7118(50%fib).On the downside, immediate support is seen at 0.6940(23.6%fib), a break below could take the pair towards 0.6902(Lower BB).
USD/JPY: The edged higher against yen on Wednesday as the yen weakened despite repeated verbal intervention from officials offering little support to the currency. Japanese officials’ verbal warnings have failed to ease pressure on the yen, with authorities now planning to improve management of their $1.3 trillion FX reserves to support potential intervention. Markets are increasingly skeptical about Tokyo’s ability to carry out further currency intervention after a record-sized operation nearly two months ago significantly depleted foreign exchange reserves. Some Bank of Japan board members backed additional rate hikes to bring policy closer to neutral levels, according to a summary of opinions from the June policy meeting released Wednesday.. Immediate resistance can be seen at 161.62(38.2%fib) an upside break can trigger rise towards 162.00(Psychological level) .On the downside, immediate support is seen at 161.21(Daily low) a break below could take the pair towards 160.13(SAM 20).
Equities Recap
Asian stocks struggled for direction on Wednesday as analysts cautioned about renewed volatility from stretched AI valuations and the prospects for U.S.-Iran peace talks.
Hang Seng was up by 0.43% , South Korea’s Kospi is up at 3.26%, China A50 was up at 0.39%
Commodities Recap
Gold extended losses on Wednesday, hitting a near two-week low as a stronger U.S. dollar, driven by rising Fed rate-hike bets, pressured prices, while investors weighed mixed signals from U.S.–Iran peace talks.
Spot gold fell 0.5% to $4,088.97 per ounce by 0609 GMT, having earlier hit its lowest since ?June 11. U.S. gold futures for August delivery declined 1% to $4,106.30.
Oil prices fell more than 1% on Wednesday, extending weekly losses to near four-month lows as signs emerged that more stranded oil tankers are set to resume movement through the Strait of Hormuz.
Brent crude futures fell 96 cents, or 1.3%, to $76.12 a barrel by 0715 GMT. U.S. West Texas Intermediate slipped by 92 cents, or 1.3%, to $72.29.