Market Update - 30 June 2023

USD/JPY keeps running the play of refreshing yearly top and then retreating. Japan inflation, Industrial Production ease, Unemployment Rate remains intact. Japanese officials keep suggesting market intervention to defend Yen at multi-month top. Hawkish Fed versus dovish BoJ play favors pair buyers ahead of US Core PCE Price Index. (FXStreet)

GBP/USD retreats from intraday high, extends bounce off fortnight low while snapping two-day downtrend. Final reading of UK Q1 GDP confirms 0.1% QoQ, 0.2% YoY figures. Hawkish Fed statements jostle with mixed BoE talks to keep Cable bears hopeful. US Dollar pares weekly gains ahead of Fed’s preferred inflation gauge amid cautious optimism. (FXStreet)

EUR/USD takes offers to refresh weekly low, mildly offered of late. Germany’s Retail Sales rose but Import Price Index appears mixed for May. US Dollar regains upside momentum as markets become active after lackluster Asian session. Eurozone, HICP, CPI and US Core PCE Price Index will be crucial considering hawkish ECB, Fed. (FXStreet)

USD/INR edges lower on Friday and extends the overnight pullback from a two-week high. The technical setup still favours bearish traders and supports prospects for additional losses. Some follow-through buying beyond the 82.25 area is needed to negate the negative outlook. (FXStreet)

AUD/USD clings to mild gains within two-week-old bearish channel. Below 50.0 RSI levels suggest corrective bounce but descending trend channel, sustained trading below 200-SMA favor Aussie sellers. Intraday sellers may wait for 0.6600 breakdown for fresh entry. (FXStreet)

USD/CAD remains confined in a narrow trading range through the Asian session on Friday. An uptick in Crude Oil prices underpins the Loonie and acts as a headwind amid a softer USD. Investors now look forward to the US Core PCE Price Index for a fresh directional impetus. (FXStreet)

USD/CHF pares weekly gains amid pre-data anxiety, stays above the key support lines. 200-SMA, monthly resistance line challenge buyers even as MACD prints bullish signals. Sellers need validation from 0.8900 to retake control. Swiss Real Retail Sales, US Core PCE Price Index eyed for clear directions. (FXStreet)

WTI crude oil grinds higher around weekly top amid dicey markets. Mixed China data weigh on market’s cautious optimism as demand depletion looms. Firmer US Dollar, hawkish central banks keep energy bears hopeful. OPEC+ seminar in Vienna, US NFP eyed for clear directions. (FXStreet)

Gold Price remains dicey as bears attack the key support while seeking confirmation of hawkish Fed bias. Fed’s preferred inflation, FOMC Minutes and NFP will be crucial to watch for clear XAU/USD directions. US-China headlines, central bankers’ speeches may entertain the Gold sellers. (FXStreet)

Source: FXStreet

Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.