Dollar Slips and Oil Falls as Markets Reprice Fed and Iran Risks
United States. The US dollar is strengthening against the Japanese yen today while posting moderate losses against the euro and the British pound.
United States. The US dollar is strengthening against the Japanese yen today while posting moderate losses against the euro and the British pound.
During the morning session, EUR/USD is moving away from the May 28 low. Market activity remains restrained as investors await the publication of final May labor market data at 14:30 (GMT+2).
United States of America. The U.S. dollar is losing ground against its main competitors — the euro, the pound, and the yen.
WTI Crude Oil quotes are correcting around 95.0 dollars per barrel amid persistent geopolitical tensions in the Middle East. Iranian forces launched ballistic missile and drone strikes on targets in Kuwait and Bahrain, while according to official Tehran, the targets were U.S. military bases and the command center of the Fifth Fleet. However, available information suggests that the facilities did not suffer significant damage.
During the Asian session, GBP/USD is correcting around 1.3428: the British currency is failing to develop a bullish impulse amid continued demand for the U.S. dollar.
During the morning session, XAG/USD is recovering after yesterday’s bearish impulse and is testing the 73.50 level for an upside breakout, while market participants are in no hurry to open new positions and are currently analyzing data from Automatic Data Processing published the day before. In May, private nonfarm employment increased by 122.0K, exceeding both the revised April figure of 105.0K and expectations of 117.0K, reaching the highest level since January 2025. The main driver of growth was the services sector, which added 114.0K jobs, while the goods-producing sector contributed only 8.0K.
During the morning session, USD/JPY is retreating from the April 30 highs, holding near the psychological level of 160.00.
United States of America The U.S. dollar is strengthening against the euro and the pound but losing ground against the yen.
Against the backdrop of a stronger U.S. dollar, USD/JPY is correcting within a sideways trend at 159.87, approaching the key 160.00 level.
Benchmark Brent Crude Oil prices remain in a global corrective trend around 96.0 dollars per barrel. The market is trading on high volumes, having moved significantly away from the local high of 101.00 the day before after U.S. President Donald Trump said that, despite disagreements, bilateral consultations with Iranian authorities are continuing.
During the morning session, GBP/USD is developing a stable upward trend in the ultra-short term, holding near the May 26 high at 1.3461.
The euro is showing flat dynamics against the U.S. dollar during the Asian session, consolidating around 1.1622 after the release of preliminary May inflation data in the eurozone, which matched analysts’ expectations.
During the morning session, XAU/USD is testing the 4520.00 level for an upside breakout, recovering after a bearish start to the week.
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