Market news
Crypto, stocks, forex and macro, aggregated for traders.
Delaware and New Jersey Ban Crypto ATMs, Citing Fraud Risks
Delaware and New Jersey have enacted laws prohibiting crypto ATMs, citing elevated fraud risks. Violators face fines of up to $10,000.
US Producer Inflation Jumps to 6.5% in May, Highest Since November 2022
The U.S. Producer Price Index rose 6.5% year-over-year in May, accelerating from 5.7% in April and hitting the highest level since November 2022, according to the Bureau of Labor Statistics.
Nomura: SNB to Emphasize FX Intervention Despite CHF Drop
Nomura’s European economics team expects the Swiss National Bank to maintain its emphasis on a high willingness to intervene in foreign exchange markets, even as the Swiss franc has recently depreciated.
Trump Announces US Takeover of Iran's Kharg Island, Escalating Conflict
President Trump has effectively announced a US military takeover of Iran's Kharg Island, which controls roughly 90% of Iranian crude oil exports. This would mark the most significant escalation in the Iran conflict to date.
Gold Hits 2024 Low on Hawkish Rate Expectations
Gold (XAU/USD) fell to a six-month low on Thursday, erasing all year-to-date gains, as expectations for prolonged high interest rates and technical selling pressured the metal.
US May PPI Inflation Rises to 6.5%, Highest Since November 2022
May producer price index (PPI) inflation surged to 6.5% year-over-year, exceeding expectations of 6.4% and marking the highest level since November 2022. Core PPI held steady at 4.9%.
BBH: BoJ Rate Hike Fully Priced In, USD/JPY Near 160.50
Brown Brothers Harriman notes that USD/JPY is trading tightly around 160.50, just below the late-April pre-intervention high, with a 25 bps Bank of Japan rate hike to 1.00% already fully priced in.
Trump Says US Will 'Hit Iran Very Hard Tonight'
US President Donald Trump posted on Truth Social that the United States will hit Iran 'very hard tonight,' claiming Iran's defenses are largely destroyed.
Trump Vows to 'Hit Iran Very Hard Tonight,' Seize Kharg Island and Oil Markets
President Trump announced plans to strike Iran imminently, seize Kharg Island, and assume total control of Iran's oil and gas markets, drawing parallels to U.S. actions in Venezuela.
ECB Hikes Rates by 25 bps, Citing Renewed Inflation Amid Iran War
The European Central Bank raised its key interest rate by 25 basis points, marking the first major central bank hike since 2023. The move was attributed to renewed inflationary pressures linked to the Iran conflict.
UOB Sees AUD/USD Grinding Lower Toward 0.6975
United Overseas Bank analysts maintain a bearish stance on AUD/USD after the pair closed below 0.7000, targeting a gradual move toward 0.6975 despite modest downside momentum.
Bessent: FISA Critical for Treasury to Counter Terrorist Financing
Treasury Secretary Bessent said FISA is a vital tool to prevent terrorists from using the financial system and to gather intelligence on adversaries like Iran and Hamas, urging Congressional Democrats to prioritize national security over politics.
Iran Defense Ministry Calls for Regional Ceasefire
Iran's defense ministry has called for a regional ceasefire, stating that continued aggression and warmongering will inevitably compel acceptance of a halt to hostilities across all fronts.
ING: ECB Summer Hikes Are Insurance, Not Based on Current Data
ING’s Carsten Brzeski says the European Central Bank’s planned summer rate hikes are precautionary, driven by memories of 2022 inflation rather than today’s moderate headline inflation and survey-based expectations.
TD Securities Sees USD/CAD Converging to 1.38 as BoC Holds Rates
TD Securities reports the Bank of Canada left rates unchanged at 2.25% with a balanced tone, expecting a hold through 2026, and forecasts the Canadian dollar converging to 1.38 against the US dollar.
CENTCOM Announces Impartial Blockade Enforcement on All Vessels Near Iranian Ports
U.S. Central Command stated that the naval blockade around Iranian ports is being enforced impartially against vessels of all nations, including those in the Arabian Gulf and Gulf of Oman.
CENTCOM Disables 9 Vessels, Redirects 135 Since April 13 Blockade
US Central Command reports disabling nine non-compliant vessels and redirecting 135 compliant ships since starting a blockade on April 13, with 42 vessels allowed through for humanitarian aid.
US aircraft disable two Palau-flagged vessels over Iran blockade violations
US aircraft disabled the Palau-flagged tankers M/T Marivex and M/T Settebello earlier this week for attempting to breach the blockade by sailing to an Iranian port or transporting Iranian oil.
USD/CAD Rises as Safe-Haven Demand Bolsters US Dollar
USD/CAD advanced toward 1.3975 on Thursday, up 0.23% on the day, as the US dollar strengthened on safe-haven demand amid Middle East tensions.
Bitwise CIO: Financial Advisors Shift Focus From Bitcoin to Stablecoins, Tokenized Assets
Bitwise CIO Matt Hougan said financial advisors remain interested in crypto but have shifted from Bitcoin to stablecoins and tokenized assets. He expects these products to drive the next market cycle recovery.
British Pound Edges Lower Ahead of UK GDP Data
The British Pound weakened slightly against the US Dollar on Thursday, trading near 1.3350, as markets await UK monthly GDP figures.
Gold Bounces from $4,000 but Stays Below $4,100
Gold (XAU/USD) edged higher on Thursday, attempting to recover from the $4,000 psychological support level, but remains capped below $4,100 amid geopolitical jitters and shifting Fed rate expectations.
Bears Hold Grip on Brent Despite Middle East Tensions
Brent oil price remains in a $90–$95 range for a fifth day, as markets shrug off renewed Middle East tensions and a large US crude inventory draw.
SpaceX IPO Valuation Gap Nears $1 Trillion
Two rational traders studying the same SpaceX IPO prospectus arrived at valuations nearly $1 trillion apart, highlighting the extreme uncertainty in the company's market worth.