Market news
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GBP/USD Edges Higher to 1.3390 as Weaker Dollar Supports, but UK Risks Cap Gains
GBP/USD rose to 1.3390 on Tuesday, up 0.42%, driven by a weaker US dollar after confirmed direct attacks between Israel and Iran, though gains remain limited by UK political and growth risks.
Zcash Team Approves Ironwood Upgrade to Limit ZEC Supply After Orchard Vulnerability
Zcash developers have agreed on consensus changes for the Ironwood upgrade, which will launch a new shielded pool and restrict ZEC supply following a vulnerability in the Orchard protocol, according to developer Sean Bowe. The upgrade is scheduled for July.
Markets Eye ECB Hike and SpaceX IPO; Indonesia Raises Rates
European markets are subdued as traders await the ECB rate decision and the upcoming SpaceX IPO. Meanwhile, Indonesia's central bank has raised rates in an emergency move.
EUR/GBP Testing Two-Week Lows at 0.8630 as Bearish Pressure Grows
The euro weakened against the pound on Tuesday, with sellers targeting the 0.8630 support area, marking two-week lows and increasing bearish momentum.
Poland's Central Bank Tops April Gold Purchases Among Peers
Poland's central bank was the largest buyer of gold among central banks in April, further cementing its position as a major sovereign accumulator of the precious metal.
USD Corrects Lower as Middle East Fears Ease, Fed Hawkishness Lingers
The US dollar corrected lower on Monday, reversing part of Friday's rally, as easing Middle East tensions reduced safe-haven demand, while hawkish Fed expectations continue to underpin the currency.
EUR/CHF Tests Key Resistance Band Near 200-Day MA – Societe Generale
Societe Generale notes EUR/CHF has formed a higher low near 0.9090, signaling reduced downside momentum as it approaches its 200-day moving average and a multi-year descending trendline.
Euro Edges Higher on ECB Tightening Hopes, Dollar Weakness
The euro extended gains for a second day on Tuesday, paring some of last week's losses, supported by expectations of further ECB tightening and mild US dollar weakness.
Japanese Yen Weakens Past 160.00 Despite BoJ Rate Hike Bets
MUFG analyst Lee Hardman notes the yen remains under pressure with USD/JPY trading above 160.00, even as markets price in a near-certain BoJ rate hike at the June meeting.
Rabobank: Bank of Canada to Hold Rate at 2.25% at June Meeting
Rabobank analysts expect the Bank of Canada to maintain its policy rate at 2.25% at the June 10 meeting, citing the impact of external shocks.
China Urges Philippines to Halt Maritime Infringements and Provocations
China's Foreign Ministry spokesman Lin Jian called on the Philippines to stop infringing on China's maritime rights and to cease provocative actions and inflammatory publicity stunts.
Singapore Launches ASPIRE 2B Supercomputer with 1,500+ Nvidia H200 GPUs
Singapore's National Supercomputing Centre has launched the ASPIRE 2B supercomputer, featuring over 1,500 Nvidia H200 GPUs and 115 petaflops of computing power to support AI research and high-performance computing.
Hotter US Inflation Data Could Strengthen Fed Rate Hike Bets
Escalating Middle East tensions and a positive oil price start to the week revive inflation fears, reinforcing expectations that the Fed may need to raise rates further.
Silver Holds Steady Near $68.23 as Price Moves Little Changed
Silver prices (XAG/USD) traded at $68.23 per troy ounce on Tuesday, virtually unchanged from the previous day, according to FXStreet data.
Top Crypto Firms Urge US Congress to Include Developer Protections in Clarity Act
A coalition of major crypto companies, including a16z, Coinbase, Uniswap, and Solana, has sent a joint letter to US Congress calling for legal protections for developers in the Crypto Clarity Act.
Yen Steadies Near Lows as Ceasefire and Intervention Risks Balance
USD/JPY holds around 160.15, near its highest since April 30, as ceasefire hopes and Japan intervention threats offset each other.
OCBC: Dollar Rangebound with Upside Risks, No Fed Easing Through 2026
OCBC's FX strategist Sim Moh Siong says the US Dollar is consolidating after payroll-driven gains, with the bank now expecting no Fed rate cuts through 2026 and elevated 10-year yields.
EUR/USD Downtrend Targets Lower Support Levels: UOB
UOB analysts note short-term consolidation between 1.1505 and 1.1555 after last week's sharp decline, with the downtrend aiming for lower supports.
Deutsche Bank: Tech Rebounds but Breadth Remains Weak
Deutsche Bank strategists note US equities stabilized after Friday's slump, led by the NASDAQ and semiconductor stocks, but overall market breadth remains weak.
Canadian Dollar Rebounds, USD/CAD Halts Winning Streak
The Canadian dollar strengthened against the US dollar on Monday, pulling back from two-month highs as USD/CAD halted its four-day winning streak and traded around 1.3940 during European hours.
Swiss Franc Weakens Against Euro on Softer Rate Outlook – ING
The Swiss Franc has weakened against the Euro, with EUR/CHF drifting back to 0.92, as Swiss rates lag behind global movements and markets price in three ECB rate hikes over the next 10-12 months, according to ING's Chris Turner.
WTI slides to near $88 as Trump signals Iran deal progress
West Texas Intermediate crude oil fell 1.8% to around $88.10 during European trading, extending a drop of over 6% from Monday's high, as former President Trump hinted at a potential deal with Iran.
Dollar Holds Steering Wheel but Grip Weakens
The U.S. dollar remains the dominant force in FX markets, but its grip appears to be loosening today as traders await clearer signals. The author notes a lack of conviction after last week's rally.
Israel issues evacuation order for Lebanese city of Tyre
The Israeli army's Arabic-language spokesperson warned residents of Tyre, Lebanon to evacuate immediately ahead of military action.