Market news
Crypto, stocks, forex and macro, aggregated for traders.
Nasdaq 100 Falls 1.8% in 40 Minutes, Nears Correction Territory
The Nasdaq 100 dropped 1.8% in 40 minutes to its session low, now just 3% away from entering correction territory.
Denmark Core Inflation Hits 2.1% in May, Headline Below Euro Area
Danish consumer prices rose 1.9% year-over-year in May, while core inflation climbed to 2.1% — its highest since early 2024 — driven by hotel and travel costs.
Trump Urges Congress to Extend FISA 702 Law Temporarily
President Trump called on Congress to pass a short-term extension of FISA Section 702, warning the law will expire this week and citing its importance for military and public safety during World Cup and America250 celebrations.
Scotiabank: JPY Bearish vs USD as BoJ Hike Already Priced
Scotiabank analysts note the Japanese Yen is underperforming despite strong PPI data, as markets have fully priced a 25 bps BoJ rate hike next week and another subsequent hike.
Iran Diversifies Crude Oil Procurement from Africa, Beyond Middle East
Iran is expanding its crude oil procurement sources to Africa and beyond the Middle East, following the military conflict with the US and Israel in February. The country is also buying from the US, Central and South America, and Central Asia.
Japan's Takaichi to Announce 100% Alternative Oil Procurement Bypassing Hormuz by July
Japan's Minister of State for Economic Security Sanae Takaichi will announce at a ministerial meeting on Middle East affairs on April 11 that alternative crude oil procurement bypassing the Strait of Hormuz will reach 100% in July, citing progress in securing oil from the US and other countries.
USD Uptrend Intact into FOMC – TD Securities
TD Securities strategists note that a softer US core CPI triggered only modest dollar weakness, arguing the broader USD uptrend remains supported by strong payrolls and geopolitical factors ahead of the FOMC meeting.
Russian State Duma Passes First Reading of Crypto Taxation Bill
The Russian State Duma approved in the first reading a bill that aligns the Tax Code with the forthcoming law on digital currency and digital rights.
May Inflation Data: US Core Slips, Euro Area Core Rises
Headline inflation rose as expected in both the US and euro area in May, but core inflation diverged: US core surprised to the downside due to weak goods inflation, while euro area core surprised to the upside due to strong services inflation.
Crypto News Recap: CFTC Rules, BTC Near $62K, Stablecoin Updates
The CFTC proposed prediction market rules, lawmakers debated crypto taxes, Bitcoin traded near $62K with bearish signals, and several stablecoin developments emerged.
Mexican Peso: Softer Carry but Relative Support – Rabobank
Rabobank strategists note the Mexican Peso has gained against the US dollar year-to-date but recently weakened, citing softer carry trade conditions while maintaining relative support.
NZD/USD Sideways After Mixed China Data and US Inflation High
NZD/USD traded around 0.5815 on Wednesday, little changed on the day, as investors digested mixed economic data from China and a three-year high in US inflation.
US Consumers Face 7%+ Mortgage Rates, 4.2% Inflation as CPI Mirrors Late 1970s
American consumers are dealing with mortgage rates above 7%, inflation over 4.2%, and a 30% drop in dollar purchasing power since 2020, while CPI inflation trends resemble the late 1970s.
Czech Koruna Outlook Supported by Early CNB Rate Hikes – ING
ING analyst Frantisek Taborsky notes that while Czech inflation surprised to the downside, strong wage growth and stable core inflation keep the Czech National Bank on track for a rate hike at its June meeting, supporting the koruna.
Align Technology Elliott Wave Analysis Suggests Potential New Highs
The monthly chart of Align Technology shows a completed wave III near $700 and an ongoing corrective wave IV, with potential for a wave V rally to new highs.
Macklem Warns Consecutive Rate Hikes Possible If Energy-Driven Inflation Broadens
Bank of Canada Governor Tiff Macklem said that if higher energy prices lead to generalized inflation, consecutive rate increases may be needed. He also noted recent volatility in Canadian jobs data, with employment little changed since January.
Macklem: Significant US Trade Restrictions May Force Rate Cuts
Bank of Canada Governor Macklem stated that significant new US trade restrictions could necessitate cutting interest rates, and that uncertainty remains unusually elevated.
Bank of Canada Focused on Preventing Energy Price Inflation from Becoming Persistent
Bank of Canada Governor Tiff Macklem stated that monetary policy remains focused on ensuring higher energy prices do not lead to persistent inflation, and the bank will watch for broadening price pressures.
BoC: Economy Weak, Excess Supply to Persist; Energy Prices Not Seen as Inflation Risk
The Bank of Canada stated that economic activity remains weak and uncertainty over U.S. trade policy continues. The central bank also indicated it will not allow higher energy prices to become persistent inflation, and expects the economy to stay in excess supply even after a rebound.
Bank of Canada: Limited Evidence of Broad-Based Energy Price Pass-Through
The Bank of Canada stated it continues to look through the near-term impact of the Middle East conflict on headline inflation, noting limited evidence so far of higher energy prices feeding broadly into other consumer prices.
US CPI Rises to 4.2%, Highest in Three Years
US inflation, as measured by the Consumer Price Index, rose to 4.2% year-over-year, the highest level in three years, up from 3.8% the previous month.
Strategy Holds Billions in Bitcoin, Raises Retail Capital via Securities
Strategy, Michael Saylor's firm, holds tens of billions in Bitcoin and increasingly raises retail investor capital through securities. Critics call it a Ponzi scheme, while supporters view it as effective risk management.
Brent Oil Muted After US-Iran Strikes, Near Recent Lows: MUFG
Brent oil prices have shown a muted response to renewed US-Iran military exchanges, trading near recent lows after briefly dipping below $90 per barrel, according to MUFG analysts Hardman and Lockhart.
US Apache Helicopter Involved in Iranian Drone Incident; 20 Retaliatory Strikes Ordered
President Trump detailed an incident where an Iranian drone lodged between two US Apache helicopter pilots in the Strait of Hormuz, leading to the first rescue by an unmanned sea drone. The US responded with 20 retaliatory strikes.