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Adebayo Ogunlesi, a director with ties to BlackRock and OpenAI, made his first purchase of the golf stock in nearly three years.

The Australian dollar is up 30 pips to 0.6521; that’s just 17 pips from last week’s high. If that level can break, it will bring AUD/USD to the highest levels since November.

In focus are US-China trade talks and the implications for global growth if the world’s two-largest economies can repair their relationship. Notably, AUD/USD is right in the middle of the trading range since September and could plausibly re-test either side depending on the outcome.

That said, I don’t think we will get a binary response this week. Instead, it will either be slow progress or the lack thereof. But when you look at the chart, the steady rising trends since January (though interrupted by the Liberation Day drop) is evident. There is a solid series of higher highs that can continue with a small gain from here.

Backing up the bullish case is the lack of resistance in US (and international) stock indexes, which have some clear sailing ahead of all-time highs and are currently trading at the best levels of the day.

This article was written by Adam Button at www.forexlive.com.

The latest poll showed less than 30% of CEOs expected some sort of recession or slowdown over the next six months.

For now at least, the dollar is holding lower as the woes continue for the currency. USD/JPY is down 0.5% to near 144.00 after backing away from another run up to 145.00 at the end of last week. Meanwhile, AUD/USD buyers are starting to test the waters for a firmer break above the 0.6500 mark so that is one to watch out for as well.

Traders are keenly awaiting details on US-China trade talks in London today but so far there is no word on when exactly it will happen.

The two sides are no doubt scrambling to sort out an agenda, with market players definitely eyeing discussions about rare earth supplies. China is even seen offering a gesture of goodwill here. So, that will at least help to ease some of the tensions before the two sides meet later in the day.

That being said, it is still doubtful that we will see any material progress. There were nice words exchanged in Geneva but not much real headway after. And I would expect the same to be seen this time around as well.

Sure, there might be some gestures of amity to be expected after. But a proper trade deal and one that will see both sides honour it? Still a pipedream more than anything else if you’d ask me.

This article was written by Justin Low at www.forexlive.com.

After the visit last week, Akazawa said that they made “progress” but did not disclose what that entailed. That before reaffirming that Japan’s stance of wanting tariffs to be removed hasn’t changed whatsoever. It seems like we’re still not finding any breakthroughs just yet. Tick tock, tick tock. 31 days to go.

This article was written by Justin Low at www.forexlive.com.

US yields are moving to new lows for the day with the

• 2 year at 4.001% -4.2 basis points
• 5 year at 4.082%, -4.4 basis points
• 10 year at 4.479%, -3.0 basis points
• 30 year at 4.956%, -0.7 basis points.

This week, the US treasury will auction 3, 10 and 30-year coupon issues as part of the Treasury’s regular refunding cycle.

• 3-Year Note (June 10): $58 billion

• 10-Year Note (June 11): $42 billion

• 30-Year Bond (June 12): $25 billion

These auctions are and could influence market yields and demand sentiment.

The 10-year U.S. Treasury yield is arguably the most important benchmark in global finance, as it plays a critical role in setting interest rates across the economy. Its movements directly influence mortgage rates, auto loans, and corporate borrowing costs, making it a central driver of credit conditions.

Beyond that, the 10-year yield serves as a barometer of investor sentiment. Rising yields typically signal expectations of stronger economic growth or higher inflation, while falling yields often reflect concerns about slowing activity or increased risk aversion.

Admittedly, the yield has been up and down as traders stuggle with what may happen economically (growth and inflation).

From a technical perspective the bias is more to the upside. Looking at the daily chart below, the 10-year yield has pushed back above its 100-day moving average at 4.386%. The year’s high was 4.809% on January 14, while the low was 3.86% on April 4. The yield is also trading above the 50% retracement level of that range, which comes in at 4.335%. Last week’s dip briefly tested this midpoint but failed to sustain downside momentum. Both those technical levels point to higher yields, growth and/or inflation.

So although the yields are moving lower today, the bias is still to the upside from the technicals on the daily chart. To tilt the bias more firmly to the downside, the yield would need to break and stay below both the 100-day moving average and the 50% retracement level. Until then, the technical bias remains tilted to the upside.

This article was written by Greg Michalowski at www.forexlive.com.

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