Market news
Crypto, stocks, forex and macro, aggregated for traders.
Arthur Hayes Predicts Bitcoin Dump Then Pump as AI Bubble Bursts
Arthur Hayes warns that a potential AI bubble burst, triggered by mega IPOs and rising oil prices, could cause Bitcoin to initially dump before a subsequent pump as liquidity cycles renew.
AUD/JPY Gains as China Trade Surplus Beats Expectations
The AUD/JPY cross edged up to around 112.90 during Asian hours after China's trade balance came in larger than forecast, lending support to the Australian dollar. Traders remain watchful for possible Japanese intervention.
Gold Rebounds from Three-Month Lows but Caution Remains
Gold (XAU/USD) has bounced from three-month lows of $4,269 but remains under pressure, trading above $4,300 in Asian session.
Australian Dollar Steady Despite Strong China Trade Balance Data
The Australian Dollar trades flat around 0.7050, consolidating after China reported a stronger-than-expected trade surplus for May.
Swiss Franc Steadies as USD Weakens on Iran-Israel Ceasefire Hopes
USD/CHF edged lower to around 0.7970 on Tuesday, extending losses after two days of gains, as a potential ceasefire between Iran and Israel reduced safe-haven demand for the US dollar.
China's Trade Surplus Widens to CNY723.98B in May
China's trade surplus for May expanded to CNY723.98 billion, up from the previous reading of CNY585.69 billion.
Crypto Fear & Greed Index Drops to 8; Strategy Buys 1,550 BTC for $101.3M
The Crypto Fear & Greed Index fell to 8, signaling extreme fear, while Strategy (formerly MicroStrategy) added 1,550 Bitcoin to its holdings. In other news, a New York judge stayed a lawsuit over dormant Bitcoin wallets, and Senator Lummis pushed the Clarity Act forward.
Upbeat NFP Data Spurs Dollar Rally, Market Eyes CPI
Strong NFP data triggered risk-off sentiment, pushing investors to the US dollar. DXY had one of its best weeks recently as markets prepare for CPI release.
Canadian Dollar Bounces Off Late March Low vs Weaker USD, Gains Capped by Oil
USD/CAD edged lower on Tuesday as the Canadian dollar bounced off late March lows, supported by a softer USD, though weak oil prices capped further upside.
US Dollar Index declines as Iran, Israel agree to halt strikes
The US Dollar Index (DXY) remained subdued around 100.00 during Asian hours as Iran and Israel agreed to halt strikes, easing geopolitical tensions.
White House to Meet Law Enforcement on Clarity Act Concerns
US administration officials will meet law enforcement groups at the White House this Wednesday to address concerns that certain Clarity Act provisions could hinder efforts to combat illicit finance, according to Eleanor Terrett.
Silver (XAG/USD) edges lower near $68 on Fed rate hike bets
Silver prices slipped to around $67.90 during Asian trading on Tuesday, paring recent gains as renewed Fed rate hike expectations and Middle East uncertainty weighed.
Institutional Yen Shorts Hit $11 Billion Despite Record Intervention
Leveraged funds and asset managers have increased short positions on the Japanese yen to $11 billion, the highest since July 2024, even as Japan spends a record $74 billion to support the currency.
GBP/USD Consolidates Near 1.3350, Upside Limited
The British Pound is consolidating around the mid-1.3300s against the USD after bouncing from a three-week low near 1.3300, but upside potential appears limited.
USD/JPY Holds Above 160 as Yen Weakens Despite Intervention Warnings
The Japanese yen softened against the US dollar on Tuesday, with USD/JPY trading near 160.20 during Asian hours, as escalating Middle East tensions supported the greenback despite fresh intervention threats from Tokyo.
PBOC Sets USD/CNY Reference Rate at 6.8147
The People's Bank of China set the USD/CNY central rate at 6.8147 for Tuesday, compared to the previous day's fix of 6.8198.
AUD/USD Hovers Near Two-Month Low Ahead of China Trade Data
The Australian dollar remains near its lowest level since April 13 against the US dollar, struggling to extend a modest bounce as traders await China's trade balance data.
New Zealand Dollar Eases Ahead of China Trade Balance Data
NZD/USD edges lower to around 0.5800 during Asian hours as the US Dollar holds firm on Middle East uncertainty, with traders eyeing upcoming Chinese trade data.
US Stock Market Cap-to-GDP Ratio Reaches Record 238%
The US stock market capitalization relative to GDP hit an all-time high of 238%, with the market value surging to $75.7 trillion versus an economy of $31.8 trillion.
Japan's Katayama: Stance Unchanged, Ready for Decisive Measures
Japan's Finance Minister Satsuki Katayama reiterated on Tuesday that the government's stance on currency policy remains unchanged and authorities stand prepared to take decisive action if needed.
WTI Slides Below $89.50 as Iran and Israel Agree to Cease Attacks
West Texas Intermediate crude oil edged lower to near $89.40 per barrel during Asian hours after Iran and Israel reportedly agreed to halt attacks. The price fell over 1% in the previous session.
Japan Economy Minister Hopes BoJ Continues Anti-Deflation Cooperation
Japan's Economy Minister Minoru Kiuchi expressed hope that the Bank of Japan will keep cooperating with the government to fight deflation, adding that long-term rates are set by markets based on supply-demand and steady economic factors.
Asia-Pac Stocks Recover on Israel-Iran Halt, Australia Lags
Asia-Pacific stocks rebounded broadly from previous session losses as signs of a halt in Israel-Iran strikes improved sentiment. Australian shares underperformed due to catch-up trading after the holiday break.
Euro weakens below 1.1550 on Middle East uncertainty ahead of ECB rate decision
EUR/USD fell to around 1.1530 in early Asian trading Tuesday, pressured by Middle East uncertainty as markets await the ECB rate decision and US CPI data.