DBG Markets: Market Report for Jun 03, 2025

Market Overview

GOLDRecent fundamental ongoings, particularly these heightened global trade and geopolitical concerns, have allowed GOLD prices to return with a strong bullish push. It has broken through relevant structures, and both the MACD and RSI indicate increased buying momentum and volume. We expect further buying to continue in the coming days. While the upward trajectory appears strong, there is a chance for markets to move sideways briefly before a continuation higher

SILVERSILVER prices also show increased bullish movement and momentum, with both the MACD and RSI strongly reflecting this move. This bullish momentum has allowed prices to break out of their consolidated structure. We can now be more confident of a continuation higher, especially as GOLD prices appear to be targeting historic highs again.

DXYThe Dollar is currently experiencing a continued sell-off, with the RSI and MACD indicating strong downward volume and momentum. We can expect further selling in the coming days and will remain focused on identifying more selling opportunities. Given the progression of fundamentals, there is a larger chance for markets to find weakness in the Dollar due to policy concerns and trade uncertainties. The ultimate effect on the U.S. economy remains to be seen, but the outlook is not overly bright, especially if international support for U.S. policy wanes. Although President Trump asserts U.S. self-sufficiency, economic data will be crucial in validating this stance.

GBPUSDThe Pound is also experiencing increased growth, though it was stagnant last night. We will not alter our current assessment of this market; instead, we note the increased momentum and volume indicated by both the RSI and MACD. Therefore, we will continue to look for bullish opportunities, anticipating a potential price retraction that could offer a more favorable buying level.

AUDUSDThe Australian Dollar is finding increased bullish movement but has consolidated since last night. However, we can definitely see some good progress in this market, with the Aussie dollar showing potential for further buying. Prices are above 0.64801 and are indicating a continuation higher. This movement does solidify a bullish continuation, BUT it is important to note that there is still a possibility for a retracement lower. The MACD and RSI are showing healthy growth in bullish volume and momentum. We will remain confident in looking for more buying opportunities.

The MACD and RSI are seeing good growth in volume and momentum, and we can expect further buying to continue in the coming days. While the Kiwi is testing the 0.60455 level, a break above it would signal further bullish movement. We do expect prices to continue strongly bullish.

EURUSDThe Euro is currently finding increased bullish momentum despite rising trade tensions between Europe and the U.S. Largely, supportive data has also bolstered the Euro. Notably, Mays stronger-than-expected German IFO business climate index (which rose to 87.5, an 11-month high) and signs of incoming fiscal stimulus from Berlin add to Euro support. The ECB, having already cut rates by 25 basis points in April, is widely expected to implement another 25bps cut in the upcoming week (around June 5th), likely followed by a pause through year-end. The MACD and RSI are finding a good increase in both volume and momentum. Prices also broke out of the consolidation zone cleanly, allowing us to expect further buying to continue.

USDJPYThe Yen lost some gains early this morning, but the overall price action [for USD/JPY] stays low, indicating Yen strength. Gains for the Yen are still prominent, and this is expected to continue, with charts showing real progress for the selling momentum continuation as we called yesterday. The market [USD/JPY] has shifted completely back to a bearish stance, and the MACD and RSI are finding good volume and momentum to continue selling. Thus, we will remain looking for more bearish opportunities [for USD/JPY]. However, there is a chance for prices to reach the EMA200 first before a continuation lower.

USDCHFThe Franc is showing gains [USD/CHF falling] as increased doubt over the U.S. economy looms over traders and markets. The current price is showing increased sell continuation, with the MACD and RSI indicating good growth and progression for the bearish continuation. Thus, we will wait to see a continuation lower in the coming days.

USDCADThe CAD is currently finding increased selling momentum continuation [USD/CAD falling], with the MACD and RSI reflecting this. Although prices have been somewhat stagnant since last night following a few developments, we still look for more selling opportunities. Overall price action remains very bearish for the pair.