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On June 6, 2025, global financial markets are cautious ahead of the US Nonfarm Payrolls (NFP) report, expected to show 130,000 jobs added in May with a steady 4.2% unemployment rate.
The Australian Dollar (AUD/USD at 0.6510) declines amid USD recovery (DXY at 98.80) but downside is limited by market caution.
EUR/USD holds at 1.1440 post-ECB rate cut to 2%, USD/CAD trades near 1.3650 awaiting US/Canada labor data, and NZD/USD dips to 0.6030 after hitting 0.6081.
USD/JPY steadies above 143.50, pressured by weak Japanese Household Spending (-0.1% YoY) despite BoJ rate-hike bets.
WTI crude consolidates at $62.50, supported by US-China trade talk optimism and geopolitical risks.
Silver (XAG/USD) holds at $34.50, and gold (XAU/USD) remains at $3,355.
Key drivers include US-China trade progress, Trump-Musk tensions, and monetary policy expectations, with focus on NFP, Canadian jobs data (-15K expected), and upcoming Chinese economic releases.
Silver (XAG/USD) trades at $34.50, holding steady as safe-haven demand persists ahead of NFP.
Safe-Haven Demand: Geopolitical tensions and US-China trade uncertainties support silver.
US Economic Data: Weak ADP (37K) and ISM Services PMI (49.9) reinforce Fed rate-cut bets, lowering silver’s holding cost.
China’s Economy: Caixin Services PMI at 51.1 boosts industrial demand, but weak Manufacturing PMI (48.3) caps gains.
Monetary Policy: Fed rate-cut expectations and Trump’s pressure on Powell support non-yielding assets.
Trump-Musk Tensions: Musk’s criticism of Trump’s budget bill adds market uncertainty, bolstering silver.
Trend: Neutral-to-bullish, in a rectangular pattern. RSI above 50 suggests upside potential.
Resistance: $34.80 (rectangle’s upper boundary), then $34.90 (seven-week high) and $35.80 (March high).
Support: $33.10 (50-day EMA), then $32.80 (rectangle’s lower boundary) and $32.50 (six-week low).
Forecast: Silver may test $34.80 if NFP is weak. Strong NFP could push to $32.80; weak NFP may drive $35.00.
Market Sentiment: X posts highlight silver’s strength at $34.00+, with $37.79 possible in 2025 per CoinCodex.
Catalysts: US NFP, Canadian jobs data, Chinese data, US-China trade talks, geopolitical risks.
Gold (XAU/USD) trades at $3,355, consolidating below a multi-week high of $3,373, as USD stabilizes (DXY at 98.80) ahead of NFP.
US NFP: Weak ADP (37K) and ISM Services PMI (49.9) boost Fed rate-cut bets (70% for two 25 bps cuts in 2025), supporting gold. Strong NFP could pressure prices.
US-China Trade: Trump-Xi call optimism reduces safe-haven demand, but tariff uncertainties sustain gold’s appeal.
Geopolitical Risks: Ukraine-Russia and Middle East conflicts (Iran nuclear talks) bolster safe-haven flows.
US Fiscal Concerns: Trump’s $4T tax bill and Musk’s criticism of deficit spending add uncertainty, supporting gold.
Monetary Policy: Fed rate-cut expectations and Trump’s pressure on Powell limit USD upside.
Trend: Bullish, above $3,324-$3,326. RSI in positive territory supports upside.
Resistance: $3,380, then $3,400 (multi-week high). A breakout could target $3,500 (April peak).
Support: $3,326-$3,324, then $3,300 and $3,286-$3,285.
Forecast: Gold may test $3,380 if NFP is weak. Strong NFP could push to $3,300; weak NFP may drive $3,400.
Market Sentiment: X posts show gold steady at $3,354-$3,392, with $3,500 possible. Long Forecast projects $3,600 by Q4 2025.
Catalysts: US NFP, Canadian jobs data, Chinese data, US-China trade talks, Trump-Musk feud.
EUR/USD trades at 1.1440, down from a two-month high of 1.1495, as markets await NFP after ECB’s 25 bps rate cut to 2%.
ECB Policy: ECB’s cut to 2% and Lagarde’s cautious outlook (easing cycle nearing end) pressure EUR.
US NFP: Expected 130K jobs could strengthen USD if strong, with weak ADP (37K) and Initial Jobless Claims (247K vs. 235K) suggesting risks.
US-China Trade: Trump-Xi call optimism supports USD, but tariff talks add volatility.
US Fiscal Concerns: Trump’s tax bill and Musk’s budget criticism cap USD gains, aiding EUR/USD.
Geopolitical Risks: Middle East and Ukraine-Russia tensions add EUR safe-haven appeal.
Trend: Bullish, above 1.1400. RSI above 58 favors upside.
Resistance: 1.1450, then 1.1500 and 1.1600.
Support: 1.1400, then 1.1300 and 1.1200.
Forecast: EUR/USD may test 1.1500 if NFP disappoints. Strong NFP could push to 1.1300.
Market Sentiment: X posts suggest EUR/USD caution, with 1.15 possible if USD weakens. CoinCodex forecasts 1.14 average for 2025.
Catalysts: US NFP, Canadian jobs data, Chinese data, US-China trade talks.
USD/CAD trades at 1.3650, near an eight-month low, as markets await US NFP (130K expected) and Canadian jobs data (-15K expected).
US/Canada Labor Data: US NFP (130K) and Canadian job losses (-15K, unemployment at 7%) could strengthen CAD if US data disappoints.
US-China Trade: Trump-Xi call optimism supports USD, but US-Canada trade deal hopes (pre-G7 Summit) bolster CAD.
BoC Policy: Rates held at 2.75% on June 4, with cautious guidance supporting CAD.
Oil Prices: WTI at $62.50 supports commodity-linked CAD, despite oversupply fears.
Trend: Bearish, near YTD lows. RSI below 50 suggests downside momentum.
Resistance: 1.3750, then 1.3800.
Support: 1.3635 (eight-month low), then 1.3600.
Forecast: USD/CAD may test 1.3600 if Canadian data outperforms. Strong NFP could push to 1.3750.
Market Sentiment: X posts highlight CAD strength near eight-month highs. Long Forecast sees 1.35 by Q3 2025.
Catalysts: US NFP, Canadian jobs data, Chinese data, G7 Summit trade updates.
USD/JPY trades above 143.55, steady despite weak Japanese Household Spending (-0.225% YoY) as markets await NFP.
Japanese Data: Unexpected -0.2% YoY Household Spending (vs. 2.1% prior) and real wages down 1.8% pressure JPY, complicating BoJ normalization.
BoJ Expectations: Rate-hike bets persist (inflation at 3.6% YoY), limiting JPY losses, contrasting with Fed rate-cut bets.
US NFP: Weak ADP (37K) and Initial Jobless Claims (247K) cap USD, but strong NFP could lift USD/JPY.
US-China Trade: Trump-Xi call optimism and positive risk tone weaken safe-haven JPY.
Geopolitical Risks: Ukraine-Russia and Middle East tensions support JPY.
Trend: Bearish, in a range. Negative daily RSI suggests downside bias, below 100-period SMA (144.44).
Resistance: 144.00, then 144.50 (100-period SMA).
Support: 143.50-143.45, then 143.20 and 142.70-142.
Forecast: USD/JPY may test 142.70 if NFP is weak. Strong NFP could push to 144.00.
Market Sentiment: X posts suggest JPY caution, with 142.00 possible if safe-haven demand grows. Long Forecast sees 140 by Q4 2025.
Catalysts: US NFP, Canadian jobs data, Chinese data, US-China trade talks.
WTI crude trades at $62.50, consolidating in a narrow band, supported by US-China trade optimism and geopolitical risks.
US-China Trade: Trump-Xi call boosts fuel demand expectations, supporting WTI.
Geopolitical Risks: Canadian wildfires, Ukraine-Russia, and Middle East conflicts (Iran nuclear talks) limit downside.
OPEC+ Output: July hike of 411,000 bpd and Saudi Arabia’s market share push raise oversupply fears, capping gains.
US Economic Data: EIA’s 4.304M-barrel inventory draw supports prices, but weak ISM Services PMI (49.9) signals demand softness. NFP could influence demand outlook.
Trend: Neutral-to-bullish, with RSI near 50. Prices above $60.00 support.
Resistance: $63.50, then $65.00.
Support: $60.00, then $58.50.
Forecast: WTI may test $63.50 if NFP is weak. Strong NFP could pressure to $60.00.
Market Sentiment: X posts show WTI at $65.67, with $65 possible if supply tightens. Long Forecast sees $70 by Q4 2025.
Catalysts: US NFP, Canadian jobs data, Chinese data, OPEC+ updates, geopolitical risks.
On June 6, 2025, markets are on edge awaiting the US NFP (130K jobs expected), driving caution in AUD/USD (0.6510), EUR/USD (1.1440), and USD/CAD (1.3650). Safe-haven silver ($34.50) and gold ($3,355) hold firm amid US-China trade optimism and geopolitical tensions, while USD/JPY (143.55) softens on weak Japanese data. NZD/USD (0.6030) retreats, and WTI crude ($62.50) consolidates. The Trump-Musk feud, US fiscal concerns, and upcoming Chinese data add volatility, with NFP, Canadian jobs (-15K expected), and trade talks as key catalysts. Stay tuned for market reactions.
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