Market news
Crypto, stocks, forex and macro, aggregated for traders.
USD/JPY Range-Bound Intraday, Yen Weakens Toward 160.75 – UOB
UOB analysts note USD/JPY is range-bound between 159.90 and 160.40 intraday after a brief spike and reversal, while maintaining a slightly positive multi-day outlook as the yen gradually weakens toward 160.75.
Silver Finds Temporary Support Near $63.50, Downside Risk Persists
Silver (XAG/USD) rebounded to near $65.00 after hitting a two-month low of $63.45, but analysts warn the downside bias remains intact.
Bank Indonesia Hikes 25bp to 5.50% in Surprise Move to Support IDR
Bank Indonesia delivered an off-cycle 25 basis point rate hike to 5.50%, reinforcing its commitment to stabilize the Indonesian rupiah through higher rates and FX measures, according to Commerzbank.
Canadian Dollar Holds Near Lows Ahead of US CPI, BoC Decision
The Canadian Dollar edged up against the US Dollar on Wednesday, with USD/CAD trading near 1.3940 after hitting year-to-date highs at 1.3969. Markets await US CPI data and the Bank of Canada's monetary policy decision.
China’s May inflation data shows steady CPI, rising PPI
China’s May CPI held at 1.2% year-on-year while PPI climbed to 3.9%, confirming a continued reflation trend. Food and property prices are keeping headline inflation subdued for now.
Hyperliquid, Paradigm Respond to US Treasury Stablecoin AML Rule
Hyperliquid Policy Center and Paradigm co-signed a letter responding to the US Treasury's proposed AML rule for stablecoin issuers under the GENIUS Act, expressing general support while recommending clarifications to protect permissionless blockchain infrastructure and DeFi.
GBP/USD Rises to Near 1.3400 Ahead of US CPI Release
The British Pound gained ground against the US Dollar, trading around 1.3390 during early European hours on Wednesday. Markets are turning cautious as the US May Consumer Price Index report is due later today.
USD/CNH Downside Risk Below 6.7500 as Yuan Strengthens
USD/CNH edged lower to near 6.7750 in early European trading Wednesday, pressured by the Chinese yuan’s continued strength supported by a trade surplus. Analysts see further downside potential below the 6.7500 level.
China May PPI Rises 3.9% YoY, Highest Since July 2022
China's producer price index (PPI) increased 3.9% year-on-year in May, above the consensus estimate of 3.8% and marking its third consecutive monthly rise to the highest level since July 2022.
Asian Markets: Equities, AI Credit, Iran Tensions Ahead of Oracle, CPI Data
Asian equity supply and AI credit deals are in focus ahead of Oracle's earnings. Cautious sentiment persists amid fresh Iran hostilities, while traders eye US May CPI and JP/CN inflation figures.
Central Europe Faces Low-Growth, High-Inflation Shift
The region appears to be entering a phase of sluggish growth and rising inflation, with downward revisions to growth forecasts for Czechia, Croatia, and Poland.
Iran's Foreign Minister Warns Gulf States Over US, Israeli Strikes
Iran's Foreign Minister Abbas Araghchi warned that Gulf states have a legal and moral responsibility to prevent American and Israeli strikes, as reported by The Guardian.
WTI Crude Flat Below $87.50 as Bears Eye 100-Day SMA Break
West Texas Intermediate crude oil is trading flat near the mid-$87.00s, failing to capitalize on a modest Asian session uptick as bears anticipate a breakdown below the 100-day simple moving average.
Japanese Yen Stays Weak Despite Wholesale Inflation Surge in May
The Japanese Yen remains under pressure against the US dollar even after a sharp acceleration in wholesale inflation for May, keeping USD/JPY near the 160.40 level.
BoJ Expected to Raise Rate to 1.0% in June, Poll Shows
A Reuters poll indicates roughly two-thirds of economists anticipate the Bank of Japan will hike its policy rate to 1.50% by Q2 next year, an earlier-than-previously-expected timeline.
EUR/USD Eyes 1.16-1.17 as Dollar Weakness Expected
EUR/USD has scope to test 1.1600-1.1700 while above 1.1500, as the Dollar index may dip to 99.5-99. Meanwhile, EUR/INR is bearish below 111, EUR/JPY could test 186 above 185, USD/JPY remains in a slow uptrend, and USD/CNY is bearish toward 6.76/75.
EUR/JPY Holds Above 185.00 on ECB Rate Hike Expectations
The EUR/JPY cross strengthened to near 185.20 in early European trading on Wednesday, supported by expectations that the ECB will raise rates at its June policy meeting.
AUD/USD Consolidates Above 0.7000, Bearish Potential Intact
AUD/USD trades in a narrow range during the Asian session after mixed Australian inflation data, with bearish potential still intact as it hovers above the 0.7000 two-month low.
US CPI Expected to Show Inflation at Three-Year High in May
The May CPI report is expected to reveal consumer inflation at a three-year high, driven by persistent oil prices, reinforcing the Federal Reserve's hawkish stance.
Gold Plummets Below $4,200 on US-Iran Tensions, Hawkish Rate Bets
Gold extends losses below the 200-day SMA, hitting a fresh low since March 23 as rising geopolitical tensions and hawkish rate expectations ahead of US CPI weigh on the precious metal.
Crypto Roundup: AI Bubble Warning, Circle cirBTC, SBI Rewards
A roundup of the past 24 hours: Arthur Hayes warns on AI bubble, Circle launches cirBTC on Ethereum, Japan's SBI Shinsei Bank offers crypto rewards, and U.S. stocks lost nearly $2 trillion.
Gold Price Forecast: XAU/USD Falls Below $4,200, Eyes $4,100 Ahead of US CPI
Gold extends its decline to a second day, dropping to three-month lows below $4,200 as traders focus on the upcoming US CPI data and escalating US-Iran tensions.
EUR/USD Trades Flat Near 1.1545 Ahead of US CPI Data
The EUR/USD pair is trading in a tight range around 1.1545 during the Asian session on Wednesday, as the dollar steadies before the release of US May CPI data at 12:30 GMT.
USD/CHF Gains for Fourth Day as Safe-Haven Demand Boosts Dollar
USD/CHF extended its gains for the fourth consecutive session, trading around 0.7990 during Asian hours on Wednesday, as renewed Middle East concerns bolster safe-haven demand for the US Dollar.