(By ATFX Analyst Team)
Key Takeaways
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Global Market Review 17/06/2026
US equity markets diverged yesterday. The Nasdaq and S&P 500 fell amid weakness in tech shares, while the Dow Jones reached a record high for the second straight session. US Treasury yields and the dollar continued to decline amid optimism over a US-Iran peace agreement.
Spot gold rose 0.6% to $4,330 per ounce as expectations for a Fed interest rate hike cooled. Oil prices dropped for a second session, reaching a three-month low, as reports suggested the US-Iran accord would allow Tehran to resume crude exports, possibly reopening the Strait of Hormuz.
Key Events Today:
- 14:00 GB CPI & PPI MAY ***
- 17:00 EU CPI Final MAY ***
- 20:30 US Retail Sales MAY ***
- 22:00 US Pending Home Sales MAY **
- 22:30 EIA Crude Oil Stocks Change **
June 18th
- 02:00 Fed Interest Rate Decision ***
- 02:30 Fed Press Conference ***
- 14:00 GB Unemployment Rate APR **
- 15:30 SNB Interest Rate Decision ***
- 19:00 BoE Interest Rate Decision & Meeting Minutes ***
- 20:30 US Initial Jobless Claims ***
- 22:00 US CB Leading Index MAY **
Markets Analysis 17/06/2026
- Resistance: 1.1637 / 1.1658
- Support: 1.1571 / 1.1543
EUR/USD extended its rebound yesterday, closing at a more-than-one-week high. During the early Asian session on Wednesday, the pair held steady around 1.1610 as the market adopted a wait-and-see stance ahead of the Federal Reserve decision and the final Eurozone CPI data.
Analyst View: The pair attempted to break through key resistance at the 20-day moving average yesterday. If it can hold firmly above this level today, focus will shift to further upside potential, with the pair poised to target the 1.1637/1.1658 resistance zone.
Bias: Moderately Bullish
- Resistance: 1.3457 / 1.3483
- Support: 1.3395 / 1.3374
On Tuesday, GBP/USD remained just above 1.3400 as Middle East headlines influenced market sentiment. Today’s focus is on the UK CPI report and the Fed decision.
Analyst View: GBP/USD rose slightly and broke above the 20-day moving average, eyeing 1.3450, though bullish momentum remains weak.
Bias: Moderately Bullish
- Resistance: 160.59 / 160.72
- Support: 160.19 / 160.07
Despite the Bank of Japan raising interest rates to their highest level since 1995, USD/JPY remains high, as the BOJ’s cautious approach to the bond market has weakened the Yen.
Analyst View: USD/JPY has seen mild gains and remains above the 10-day moving average. The BOJ’s decision didn’t push the pair lower, but caution remains amid potential intervention. Traders are awaiting the Fed decision for direction today.
Bias: Range-bound
- Resistance: 78.20 / 79.34
- Support: 74.33 / 73.42
Crude oil prices dropped to their lowest level since early March on Tuesday, following details emerging about the US-Iran agreement, raising hopes for the reopening of the Strait of Hormuz.
Analyst View: Oil prices are under pressure this morning after a sharp sell-off. The market may adopt a wait-and-see approach regarding the US-Iran deal, with technical indicators suggesting further downside potential toward the $74.33–$73.42 range.
Bias: Short-term Bearish
- Resistance: 4403/4443
- Support: 4274/4234
- Resistance: 71.87/72.84
- Support: 69.05/67.93
Spot gold rose for the fourth consecutive session yesterday, aided by a tentative US-Iran peace agreement that pressured the US dollar. However, a cautious approach ahead of the Federal Reserve’s decision limited gold’s gains.
Analyst View: Gold prices have rebounded and remain above the 10-day moving average. The upcoming Fed announcement will influence whether gold can test the 20-day moving average at $4,395. If the Fed signals fewer rate hikes, gold could break its range and rise above $4,400.
Bias: Moderately Bullish
- Resistance: 52,335 / 52,533
- Support: 51,865 / 51,663
The major US stock indices closed mixed on Tuesday. Dow futures reached a record high of 52,000, driven by capital rotation from tech stocks as the market awaited the Fed’s decision.
Analyst View: Dow futures, after reaching record highs, may enter a holding pattern ahead of the Fed rate decision. If the Fed changes its stance or raises the dot plot, it could pressure the Dow’s momentum.
Bias: Cautious at Highs
- Resistance: 30,377 / 30,756
- Support: 29,779 / 29,477
Chip stocks faced a significant sell-off, with the Philadelphia Semiconductor Index dropping 5.71% as capital shifted out of tech shares. Mega-cap tech names had mixed results, leading Nasdaq to end its winning streak with a decline of over 1% ahead of the Fed meeting.
Analyst View: Nasdaq has fallen below the key 30,000 mark, with the 10- and 20-day moving averages converging around 29,650-29,800. If the Fed downplays prospects for rate hikes, the index could recover to recent highs.
Bias: Wait-and-See
- Resistance: 68483/70268
- Support: 64912/62703
BTC/USD ended its three-day winning streak yesterday, wiping out recent gains. It continues to hover around its 20-day moving average as Bitcoin adopts a cautious wait-and-see approach ahead of today’s Fed decision.
Analyst View: A clean break above the 20-day moving average could trigger resistance around $68,483 / $70,268. Conversely, a rejection might push the price below $65,000, testing support at the 10-day moving average.
Bias: Neutral
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