Market Summary (Jun 10, 2025)
US-China trade talks resume in London today, and the market is pricing in another modestly positive outcome—enough to keep risk appetite up but unlikely to deliver fresh tariff cuts. Equities and high-beta currencies (AUD, NZD) remain under tailwinds, while traditional safe-havens (gold, CHF, JPY) have come under pressure. Gold’s year-end target of 3,700 USD/oz is still intact, with a near-term retracement toward ~3,150 on dips before any broader pickup. USD strength vs. EUR, CHF and JPY should persist if no surprises emerge, and all eyes are on tomorrow’s U.S. CPI print.
