DBG Markets: Market Report for Jun 10, 2025

Market Insights

GOLDGOLD trades remain consolidated as the market eyes developments from the ongoing U.S.-China trade talks in London. Although the broader market is in a holding pattern, we do see some technical weakness developing in the U.S. Dollar, which has tested its EMA200 and succeeded in moving under it. This could offer some underlying support for GOLD. We are looking for a potential second return to the lower boundary of the consolidation zone before a continuation higher. The overall price action is still respecting bullish structures, allowing us to maintain our assumption of a long-term buying momentum unless we see a clear break of structure. We will wait to see how the markets progress from today.

SILVERSILVER prices rose but have met a price ceiling at the 36.7308 level. If prices fail to break this structure, there is a possibility for a retracement toward the EMA200. However, the RSI and MACD are indicating strong bullish momentum and volume. This outperformance of Silver relative to Gold adds to the uncertainty around Gold's next move and may reflect a sentiment that Gold became overextended, prompting traders to wait for a better value before re-engaging.

DXYThe Dollar is still consolidated as it awaits headlines from the trade negotiations. We will not call a specific market direction or bias until we see a clear break of the current structure. The market's focus will soon shift to key U.S. inflation data, with the Consumer Price Index (CPI) scheduled for release on Wednesday, the Producer Price Index (PPI) on Thursday, and the preliminary University of Michigan (UoM) Sentiment and Expectations report on Friday. These releases will be crucial in navigating the market in the coming days.

GBPUSDThe Pound is currently consolidated, with a high probability that prices will continue to do so as the market waits to see how the Dollar will progress. The MACD and the RSI are also reflecting this consolidation. We will hold off on our calls for this market until we see a definitive price break of the current structure.

AUDUSDAustralian Dollar prices have found the increased bullish movement we expected, testing the 0.65250 level. There is a chance for prices to continue bullishly in the coming days, as the MACD and the RSI indicate increased buying momentum and volume. However, there is also a possibility that prices will halt their progression from the current level. We will wait to see how prices progress from here.

NZDUSDThe Kiwi is holding near the 0.60455 level. The RSI is finding increased bullish momentum, but the MACD has yet to reflect a significant change, though it maintains a bullish outlook. This muted momentum, despite the generally upward run in NZD/USD, can be partially attributed to price action in cross pairs (like against the AUD), where the Kiwi is experiencing some selling pressure.

EURUSDThe Euro remains unchanged, consolidating within its recent range. We are still waiting to see how prices will progress in the coming days.

USDJPYThe Yen is currently showing increased chances for a bullish price continuation [for USD/JPY] after prices broke above their previous bearish structures. The overall price action has now shifted bullish. The MACD and the RSI are indicating increased buying momentum and volume. We anticipate more buying to come in the coming days.

USDCHFThe Franc is still consolidated. We will hold off on taking any action until we find a definitive market movement or a break of the current structure.

USDCADThe CAD is also very consolidated at the moment, following through on our expectation of a test on the EMA200. However, we will hold off on making any calls until we find a definitive market movement.