Market Analysis Summary: Iran and Israel Pause Attacks; Markets Pause for Breather Ahead of US Inflation Data

Author: Martin Lam

Date: June 9, 2026

Key Takeaways

• Ceasefire: Iran and Israel have paused their attacks following calls for peace from the US, which has improved market risk sentiment.
• Focus on Economic Data: With a light economic calendar, investors are looking ahead to the upcoming US inflation data, while Germany's industrial output for April is expected to show improvement, and US home sales for May may exhibit modest gains.

Global Market Review

On June 6, 2026, US semiconductor stocks rebounded, leading to gains in the Nasdaq and S&P 500 indices. The US Dollar experienced a slight dip but remained near two-month highs. Gold prices steadied after previous losses, while crude oil prices rose slightly due to developments in the Middle East.

Key Events Today

• 14:00 EU Germany Industrial Production MoM APR
• 20:30 US Balance of Trade APR
• 22:00 US Existing Home Sales MAY
• June 10th:
  • 04:30 API Crude Oil Stock Change
  • 09:30 CN CPI & PPI MAY
  • 20:30 US CPI MAY
  • 21:45 BoC Interest Rate Decision
  • 22:30 BoC Press Conference
  • 22:30 EIA Crude Oil Stocks Change

Market Analysis

EUR/USD

Resistance: 1.1564/1.1576 Support: 1.1509/1.1496

The Euro has rebounded but remains near recent lows, consolidating below 1.1550 while holding above the 1.1500 support level. Analysts suggest a likely range-bound movement ahead of US inflation and ECB decisions.

GBP/USD

Resistance: 1.3381/1.3406 Support: 1.3302/1.3278

With the ceasefire between Iran and Israel, market sentiment has improved, leading to a rebound in GBP/USD from its intraday low. Analysts expect a potential breakout if it climbs above 1.3380.

USD/JPY

Resistance: 160.42/160.85 Support: 160.08/159.74

The USD/JPY pair is consolidating above the 160.00 level, with market concerns about potential intervention by authorities to support the Yen. Analysts recommend a wait-and-see approach.

Crude Oil Futures

Resistance: 94.49/95.76 Support: 87.93/86.35

Crude oil prices initially rose following the ceasefire but later fell, giving back most gains. Analysts note that without positive news for a breakout, the upside for prices is limited.

Spot Gold

Resistance: 4400/4427 Support: 4251/4224

Gold dipped below $4300 before recovering, with uncertainty and expectations of a US rate hike keeping prices defensive ahead of inflation data.

Dow Jones Futures

Resistance: 50991/51150 Support: 50518/50319

The Dow has fallen below its 10-day moving average after two consecutive days of decline, indicating potential short-term downside.

NASDAQ 100

Resistance: 29925/30246 Support: 28892/28567

Despite a rebound in semiconductor stocks, the NASDAQ index remains biased to the downside as the market awaits US inflation data.

Bitcoin (BTC/USD)

Resistance: 64955/67606 Support: 60728/58042

Bitcoin struggled to maintain gains, with significant resistance around $65,600 and weak upside momentum suggesting caution.

Conclusion

Overall, the market is in a cautious state as geopolitical developments and upcoming economic data are influencing trading sentiment. Investors are advised to monitor key support and resistance levels across various instruments.