TheNews

Fridays U.S. CPI beat reignited dollar bets causing USD/CHF to test May swing highs. Currently the Swiss National Bank (SNB) has adopted a fairly neutral/dovish approach but with inflation rising above 2% in May, money markets are looking to a potential rate hike this coming week with roughly 20bps priced in at the moment. The daily price is breaking 0.9817 resistance level to above for the primary bullish trend to be continuing.

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The U.S. dollar is likely to rise next week if the Fed signals at its June meeting that it will have to raise rates more aggressively in response to broadening inflationary pressures.
The daily price is on bullish breakout by crossing 103 resistance level to above for the 105 target to re-enter.

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Bitcoin prices suffered after US CPI rose to a four-decade high. Cryptocurrency remains vulnerable to economic data. With fundamentals currently driving price action, the economic calendar remains key for digital assets.

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The Australian Dollar has a very healthy economy behind it and the longer the currency stays undervalued, the stronger it gets. Will AUD/USD get a grip?
The RBA does two things very well. They do nothing when nothing is warranted, and they act decisively when action is needed. Action is needed here, and they are going for it. The free money party is over. Conditions need to be tightened and as a consequence, rates are going way north.
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The pound continues to suffer from fundamental challenges like the cost-of-living squeeze, despite a strong labor market, ahead of tricky BoE decision.
Next week is a rather bumper week in terms of the economic calendar when you consider the amount of high impact US data that deserves to be mentioned within this forecast based purely on how influential USD data has been recently. This is largely based on the saying ‘when the US catches a cold, ...