Goldman Predicts 50% Odds of 10% U.S. Tariff on Copper by Q1 Close 
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data 
U.S. Stocks vs. Bonds: Are Diverging Valuations Signaling a Shift? 
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data 
European Stocks Rally on Chinese Growth and Mining Merger Speculation 
Mexico's Undervalued Equity Market Offers Long-Term Investment Potential 
Geopolitical Shocks That Could Reshape Financial Markets in 2025 
Global Markets React to Strong U.S. Jobs Data and Rising Yields 
Moody's Upgrades Argentina's Credit Rating Amid Economic Reforms 
Fed May Resume Rate Hikes: BofA Analysts Outline Key Scenarios 
UBS Projects Mixed Market Outlook for 2025 Amid Trump Policy Uncertainty 
Stock Futures Dip as Investors Await Key Payrolls Data 
US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts 
China's Refining Industry Faces Major Shakeup Amid Challenges 
China’s Growth Faces Structural Challenges Amid Doubts Over Data 
Trump’s "Shock and Awe" Agenda: Executive Orders from Day One 
The US dollar index gained strength after the FOMC meeting minutes. It hit a high of 104.96 and is currently trading around 104.85.
The Fed minutes showed that future policy action would depend on incoming data, evolving outlook, and balance of risks. The committee members said that “the recent increases in inflation had been relatively broad-based and therefore should not be overly discounted.”
According to the CME Fed watch tool, the probability of a no-rate cut in June decreased to 95.90% from 96.7% a week ago.
Major resistance- 105/106.50
Major support- 104/103
Economic data for the day
US Flash Manufacturing and Services PMI (1:45 pm GMT)
US new home sales (2 pm GMT)
EURUSD-
EURUSD pared some of its gains after hawkish Fed commentary. It hit a low of 1.08174 yesterday and is currently trading around 1.08299.
The policy divergence between the Fed and the ECB puts pressure on the pair at higher levels.
Economic data for the day
German flash manufacturing and services PMI (7:30 am GMT)
Major resistance-1.0900,1.100
Major support- 1.0800,1.0720
Yen-
The pair declined slightly after the upbeat Japanese PMI data. The flash manufacturing PMI climbed to 50.50 in May compared to a forecast of 49.70. Any break above 157 confirms further bullishness.
Major Resistance- 157,158
Major support- 154.50,153.40
Canadian Dollar
The Canadian dollar lost momentum on weak crude oil prices. Any break above 1.3700 confirms further bullishness.
Resistance- 1.3700,1.3765
Major support- 1.3580,1.3535
