DBG Markets: Market Report for Jun 12, 2025

Market Overview

GOLDGOLD prices made a run for it after a consolidated trading session yesterday. Coming into the Asian open, prices pushed beyond the upper boundary of the consolidation range. There is a chance for us to find increased buying momentum from here. This growth was directly impacted by the weaker U.S. Dollar, which sold off following the cooler-than-expected U.S. CPI data released yesterday. However, on the technical front, the MACD and the RSI have yet to show a significant increase in bullish movement. We will wait to see how this continues.

SILVERSILVER prices are continuing lower, albeit slowly, after pulling back from the recent resistance. The MACD is indicating increased selling volume, while the RSI is also reflecting an increase in selling momentum. We anticipate further selling may occur in the coming days while we wait to see how the market progresses.

DXYThe weakness in the Dollar came in as we anticipated after yesterday's softer inflation data. The Consumer Price Index (CPI) for May came in weaker than expected (0.1% MoM vs. 0.2% forecast), reinforcing the case for the Federal Reserve to cut rates. The MACD and the RSI are also showing growth for a selling continuation. Following this data, traders of short-term interest-rate futures now price in a roughly 70% chance of a quarter-point reduction in the Fed's policy rate by the September meeting. Policymakers are widely expected to keep rates unchanged at their meeting next week (June 17-18). We will continue to look for more selling opportunities for the dollar.

GBPUSDThe Pound is gaining further, and the bullish momentum, reflected in both the MACD and the RSI, might bring prices beyond the upper boundary of the consolidation zone. If it does break through the high with this momentum, we will expect to see further buying.

AUDUSDThe Australian Dollar is showing a continuation of its consolidation under the 0.65250 level. While the U.S. Dollar has shown weakness, the Aussie dollar appears to be reacting with less strength compared to other currencies. Thus, we will hold off on our expectations until we see a clear break of structure. However, our bias for further buying remains.

NZDUSDThe Kiwi remains underneath the 0.60455 level, still in a consolidation similar to the Australian Dollars movements. We anticipate further buying, but given its current state, we will refrain from calling a direction until a clear break of structure is found. Thus, we will wait.

EURUSDThe Euro is showing strength after the weakness in the U.S. Dollar yesterday. We can see a clear break of structure and a bullish continuation. The MACD and the RSI are also reflecting the strength behind this bullish movement. Thus, we will look for more buying opportunities.

USDJPYThe Yen is still stuck in a consolidation but is finding increased gains against the Dollar. Asian markets are also reviewing the progress of Chinas trade talks with the U.S. Headlines from the talks in London describe the atmosphere as "constructive," but with no major breakthroughs announced yet, a "wait-and-see" mood persists, contributing to the range-bound price action. We will wait for a clear break of structure before taking action, as we are currently stuck within a larger consolidation range.

USDCHFThe Franc is still consolidated but shows gains against the Dollar after bouncing from the upper boundary [of the USD/CHF range] and the EMA200. There are more chances for the market to price in further selling [for USD/CHF] in the coming days, with the MACD and the RSI reflecting this sentiment. Thus, we will look for selling opportunities but will remain careful.

USDCADThe CAD retains strength [USD/CAD weakness] but is still consolidated. While prices are drooping to the low, we can find weak but steady selling volume reflected in the MACD. The RSI is also signaling weakening upward momentum, which supports the case for a rise in overall selling pressure. Thus, we will look for more selling opportunities while waiting for prices to break the current structure to the downside.