The US dollar gained strength in trading on Tuesday after experiencing significant pressure earlier in the week. The dollar rebounded as tensions surrounding the trade war began to ease. There are reports that US President Donald Trump and Chinese President Xi Jinping will hold talks this week. Additionally, the European Union has indicated that they have a favorable proposal for the US to reduce import tariffs.<\/p>\n
Moreover, the US Job Openings and Labor Turnover Survey (JOLTs) revealed that around 7.4 million job openings were available in April, surpassing the previous month’s 7.2 million and the forecast of 7.05 million by Trading Central.<\/p>\n
This data indicates that the US labor market remains robust even as trade disputes emerged, and this sentiment is likely to continue influencing market movements during the European trading session on Wednesday (June 4, 2025).<\/p>\n
GOLD<\/strong> This profit-taking is expected to persist during the early European trading session, especially if there are positive developments regarding trade negotiations between the US and the EU scheduled to take place in Paris today.<\/p>\n OIL<\/strong> This sentiment is expected to continue influencing oil movements during the European trading session, indicating that volatility may persist.<\/p>\n EURUSD<\/strong> Core inflation also showed slower growth, raising the possibility of the European Central Bank (ECB) considering further interest rate cuts, thereby exerting pressure on the euro. Meanwhile, with a strong US dollar, the pressure on EURUSD remains significant and likely to continue during the European trading session.<\/p>\n GBPUSD<\/strong> In the absence of major economic data releases from the UK today, there is a potential for profit-taking to continue into the early European trading session.<\/p>\n USDJPY<\/strong> Both sentiments are expected to influence USDJPY\u2019s movement in the European trading session.<\/p>\n Nasdaq<\/strong> This position may provoke profit-taking during the European trading session.<\/p>\n The US dollar gained strength in trading on Tuesday after experiencing significant pressure earlier in the week. The dollar rebounded as tensions surrounding the trade war began to ease. There are reports that US President Donald Trump and Chinese President Xi Jinping will hold talks this week. Additionally, the European Union has indicated that they […]<\/p>\n","protected":false},"author":4,"featured_media":21040,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5170,142],"tags":[5175,5174,5176,5178,5177,5168],"class_list":["post-63575","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-summary","category-news","tag-cls10","tag-eurusd","tag-gbpusd","tag-nq","tag-usdjpy","tag-xauusd"],"yoast_head":"\n
Gold prices (XAUUSD) fell by more than $28 or 280 pips to $3,352.90 per troy ounce during trading on Tuesday. With the easing of trade war tensions and the strengthening of the US dollar, gold faced profit-taking after surging by over $90 at the start of the week.<\/p>\n
Oil prices (CLS10) exhibited volatility before recording a gain of $0.31 to $63.32 per barrel during trading on Tuesday. Oil was initially pressured due to a contraction in China\u2019s manufacturing sector, which could potentially reduce oil demand. However, the easing trade tensions helped oil prices recover.<\/p>\n
The EURUSD pair dropped 752 points (75.2 pips) on Tuesday to 1.13682. This currency pair faced pressure after Eurozone data indicated that inflation in May grew by 1.9% year-on-year, lower than the previous month\u2019s 2.2% and the forecast of 2.1% by Trading Central.<\/p>\n
The GBPUSD pair decreased by 233 points (23.3 pips) to 1.35179 during trading on Tuesday. The robust US dollar led to profit-taking in GBPUSD after it had approached the highest levels since February 2022.<\/p>\n
The USDJPY pair surged by 1,310 points (131 pips) to 143.926 during trading on Tuesday, rebounding from a drop of over 140 pips earlier in the week. The reduction in trade war tensions and the release of JOLTs data indicating a strong US labor market contributed to USDJPY’s sharp rise, almost reversing the previous decline.<\/p>\n
With easing trade tensions and a robust US labor market, the Nasdaq rose by 135 index points to 21,688 during Tuesday\u2019s trading. The Nasdaq has seen two consecutive days of gains and is approaching its all-time highs.<\/p>\n