The dollar completes a rebound, returning to a long-term decline

The US dollar reinforced the importance of support, bouncing early in the week from levels near 98.7. The dollar has been bought out of this area for the past seven weeks, preventing the dollar from rewriting three-year lows. The dollar was oversold, and we regarded the rise as a technical bounce.

The 50-day moving average acted as a stop to the rebound, emphasising its technical nature. Fundamentally, the de-escalation of the US trade conflict with the European Union stopped the ‘sell America’ trade. The Court’s ruling on the illegality of reciprocal tariffs lifted USD to the highs of the previous ten days. Lower tariffs reduce the risks of the US economy stagflation, as fiscal stimulus will boost GDP, and inflation will remain under Fed control. This scenario could still materialise, restoring interest in the depreciating US dollar and lagging equities.

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⚠️ USA — Core PCE Price Index at 03:00 GMT

✔️ Prev: 0.1% | 2.7%

🕒 Exp: 0.1% | 2.5%

🎯 Fact.: 0.1% | 2.5%

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⚠️ Canada — Gross Domestic Product at 03:00 GMT

✔️ Prev: -0.2% | 1.6%

🕒 Exp: 0.1% | 1.6%

🎯 Fact.: 0.1% | 1.7% 📈

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⚠️ Canada — Quarterly Gross Domestic Product Annualized at 03:00 GMT

✔️ Prev: 2.1%

🕒 Exp: 1.7%

🎯 Fact.: 2.2% 📈

🇺🇸 Trading dynamics at the stock market pre-market

📉 The US stock market is showing negative dynamics at the pre-market.

In the Electronic Technology sector, shares of NVIDIA (NVDA) are down -0.43%, while shares of Apple (AAPL) are losing -0.56%.

In the Financials sector, shares of Berkshire Hathaway (BRK.B) are down -0.43% and shares of JPMorgan Chase (JPM) are losing -0.72%.

In the Healthcare sector, shares of Lilly (LLY) are up +0.47% and shares of AbbVie (ABBV) are down -0.33%.

Current market dynamics may increase pressure on risky assets and increase the attractiveness of the dollar as a safe-haven.

Americans’ incomes continue to rise sharply without fuelling inflation

Household personal income in the US rose by 0.8% in April, following increases of 0.7% and 0.8% in the previous couple of months. This is the fourth consecutive month that the figure has exceeded analysts' average expectations, which were 0.3% this time. Meanwhile, we have become accustomed to the much more modest spending increase of 0.2% last month. Consequently, a growing proportion of income is being saved, reaching 4.9%, close to the 25-year average of 5.6%. This normalisation has been made possible by the slowdown in inflation, but it is also contributing to a further slowdown.

For example, the core personal spending price index slowed to 2.5% year-on-year, a four-year low. The data matched expectations, maintaining the slowdown trend and steadily approaching the Fed's 2% target. As the data was as expected, there was no sharp immediate reaction from the stock or currency markets. However, this news should reinforce the dovish stance of Fed members and bring the date of the next rate cut closer, as it has been moving further away since last November.

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Pro News Video on Dollar Rebound, Gold Slips, Bitcoin Stalls

In this episode of Pro News Weekly, we’ll be taking a look at the latest moves in the markets and what they could mean for investors.

The US dollar is on the rise, gold is losing its safe-haven status, and Bitcoin is cooling off after a record-breaking run. Meanwhile, Trump’s aggressive tariff strategy faces a major legal setback — and the consequences are starting to ripple across global markets.

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GBPCAD Wave Analysis – 30 May 2025

- GBPCAD reversed from resistance zone

- Likely to fall to support level 1.8275

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Ethereum Wave Analysis – 30 May 2025

- Ethereum reversed from resistance zone

- Likely to fall to support level 2400.00

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🗓 Economic Calendar at 2025/05/31 (GMT)

01:30 🇨🇳 ⚡️ Manufacturing PMI — Exp: 49.5 Actual: 49.5

01:30 🇨🇳 Non-Manufacturing PMI — Exp: 50.6 Actual: 50.3


[Updated in real time]

Trump Coin Wave Analysis – 30 May 2025

Trump Coin: ⬇️ Sell

- Trump Coin broke the support zone

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Monero Wave Analysis – 30 May 2025

- Monero reversed from round resistance level 400.00

- Likely to fall to support level 300.00

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⚠️ China — Manufacturing PMI at 03:00 GMT

✔️ Prev: 49.0

🕒 Exp: 49.5

🎯 Fact.: 49.5

🗓 Economic Calendar at 2025/06/02 (GMT)

00:00 🇺🇸 FOMC Member Christopher J. Waller Speaks

07:00 🇨🇭 Gross Domestic Product — Exp: 0.4% | 1.5% Actual: 0.5% | 2.0%

07:50 🇫🇷 Manufacturing PMI — Exp: 49.5 Actual: 49.8

07:55 🇩🇪 Manufacturing PMI — Exp: 48.8 Actual: 48.3

08:00 🇪🇺 Manufacturing PMI — Exp: 49.4 Actual: 49.4

08:30 🇬🇧 Manufacturing PMI — Exp: 45.1 Actual: 46.4

13:30 🇨🇦 S&P Global Manufacturing PMI Actual: 46.1

13:45 🇺🇸 Manufacturing PMI — Exp: 52.3 Actual: 52.0

14:00 🇺🇸 ⚡️ ISM Manufacturing PMI — Exp: 49.3 Actual: 48.5

17:00 🇺🇸 ⚡️ Federal Reserve Chairman Jerome Powell Speaks


[Updated in real time]

⚠️ USA — ISM Manufacturing PMI at 03:00 GMT

✔️ Prev: 48.7

🕒 Exp: 49.3

🎯 Fact.: 48.5 📉

Gold Wave Analysis – 2 June 2025

- Gold broke daily down channel

- Likely to rise to resistance level 3440.00

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EURGBP Wave Analysis – 2 June 2025

- EURGBP broke daily Falling Wedge

- Likely to rise to resistance level 0.8525

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⚠️ USA — Federal Reserve Chairman Jerome Powell Speaks at 17:00 GMT