Market news
Crypto, stocks, forex and macro, aggregated for traders.
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.
US Dollar Index Holds Near 100.00 as Middle East Tensions Rise
The US Dollar Index (DXY) is trading near the 100.00 mark during Asian hours, supported by rising Middle East tensions.
Iran Launches Ballistic Missiles and Drones at US Bases in Bahrain, Kuwait, Jordan
A wave of attacks involving at least four ballistic missiles and several drones targeted U.S. bases in Bahrain, Kuwait, and Jordan, according to Axios reporter Barak Ravid.
Silver Bears Retain Control Near March Lows Below $64.50
Silver (XAG/USD) extended its decline for a second consecutive day, dropping to its lowest since March 23 as sellers remain firmly in control below the $64.50 level.
Ondo Perps Launches Public Beta for Equity Perpetual Futures with 20x Leverage
Ondo Perps has launched the public beta of its equity perpetual futures platform, offering select traders up to 20x leverage and access to deep liquidity.
GBP/USD Consolidates Below 1.3400 as Iran Tensions Mount, US CPI in Focus
The British pound is hovering in a narrow band just below 1.3400 against the U.S. dollar, unable to extend a two-day recovery from a three-week low amid renewed geopolitical risks and anticipation of U.S. inflation data.
NZD/USD Steady as Market Awaits US CPI Data
The NZD/USD pair holds near 0.7030 after mixed Chinese inflation figures, with traders eyeing the upcoming US CPI report.
China Buys 10 Tonnes of Gold in May, Largest Since Jan 2025
China added 10 tonnes of gold to its reserves in May, the biggest monthly increase since January 2025, extending its buying streak to 19 consecutive months. Total official gold reserves hit a record 2,331 tonnes.