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Forex Today: Markets Assess Japanese GDP as ECB Decision Looms
The US Dollar Index trades cautiously near 100.00 as investors balance strong US data against improved risk sentiment after reports that Iran has ended military operations. Focus shifts to the upcoming ECB decision.
Chinese Yuan Appreciation Outweighs Yield Gap – Commerzbank
Commerzbank analyst Thu Lan Nguyen notes that despite the PBoC easing caps on USD deposit rates, the yuan has appreciated roughly 3% against the dollar this year, suggesting the appreciation trend is overriding the yield differential.
US Dollar Index Eases as Iran Halts Military Operations Against Israel
The US Dollar Index (DXY) edged lower on Monday as traders assessed the evolving Middle East situation after Iran halted military operations against Israel.
China's Margin Debt Hits Record $431 Billion, Surpassing 2015 Bubble Peak
China's stock market margin debt has reached a record ~$431 billion, more than doubling over two years and exceeding the 2015 bubble peak by 22%.
Apple Announces Siri AI Beta, Home Intelligence, and Image Generation at WWDC
Apple revealed plans to launch a Siri AI beta later this year, along with Home app intelligence for camera clip analysis and photo-realistic image generation with personal library integration, at its WWDC event.
Eli Lilly's Oral GLP-1 Foundayo Outperforms Oral Semaglutide in Diabetes Trials
Eli Lilly's oral GLP-1 drug Foundayo showed 57.1% greater A1C reduction and 73.6% greater weight loss versus oral semaglutide across three pivotal diabetes trials. FDA submission is targeted by end of Q2.
UOB Sees Further SGD Losses, Targets USD/SGD at 1.2960
UOB analysts Quek Ser Leang and Lee Sue Ann warn that the Singapore dollar could weaken further against the US dollar, targeting 1.2960, after a strong US jobs report pushed USD/SGD above 1.29.
Weekly Data Preview: USOIL and XAUUSD Ahead of Key Economic Releases
A preview of weekly data for USOIL and XAUUSD, with upcoming economic data expected to drive near-term price action.
Strong US NFP Triggers Sharp Cross-Asset Selloff
The May US nonfarm payrolls report released on June 5 sparked the sharpest cross-asset selloff in over a month, with markets reacting to the strong employment data.
Trump Says He Brokered De-Escalation Between Iran and Israel
Former President Trump claims that regional countries urged him to prevent further escalation, and that Iran told the U.S. it would launch no more strikes on Israel. Trump says he called Netanyahu and got him to stand down.
Trump Says He Urged Netanyahu Not to Retaliate Against Iran, But Israel Struck Anyway
Former President Trump claims he advised Israeli PM Netanyahu against striking Iran, but Israel went ahead, informing the US only at the last minute. Trump says he managed to reduce the scope of the attack.
Iran's Qalibaf Blames Ceasefire Violations, Naval Blockade for Tensions
Mohammad Bagher Qalibaf attributed rising tensions to ceasefire violations and a naval blockade, stating that military, diplomatic, public, and service arenas are intertwined.
Iran's Qalibaf: Fighting and Negotiating Not Mutually Exclusive
Iran's parliamentary speaker Mohammad Baqer Qalibaf stated that the country must use both fighting and negotiating as tools to defeat enemies, depending on timing.
Iran's Qalibaf: Lebanon Proves Diplomacy and Military Action Beat Enemies
Iranian Parliament Speaker Mohammad Bagher Qalibaf said Lebanon's experience shows that combining diplomacy with military action defeats enemies, citing examples of retaliation threats and direct military intervention.
US Tech Jobs Drop 11% Since ChatGPT Launch; Education, Health Hit Record
U.S. information technology employment has fallen 11% since ChatGPT's launch in November 2022, losing 332,000 jobs to 2.78 million. Meanwhile, private education and health services added 3.16 million jobs, rising 13% to an all-time high.
Apple Says New Siri Will Improve Voice Dictation, Expand to CarPlay and AirPods
Apple announced that the new Siri will deliver a major improvement in voice dictation accuracy and extend its enhanced capabilities to CarPlay and AirPods, further expanding AI integration across its ecosystem.
Apple Unveils AI-Powered Siri with Cross-Device Context Awareness
Apple has introduced a new AI-driven version of Siri via Apple Intelligence, featuring enhanced conversational abilities and context awareness across devices, along with a dedicated Siri app for recalling past interactions.
ING: Zloty Most Vulnerable Among CEE FX in Risk-Off
ING analyst Frantisek Taborsky says Central and Eastern European FX is driven by global headlines and hawkish US repricing, with local data having limited impact. The Polish zloty is seen as most vulnerable in a risk-off environment.
AUD/USD Faces Key Support at 0.7000 as Rally Pauses
The Australian Dollar's recent uptrend has stalled, with AUD/USD pulling back to the 0.7000 support zone. A fresh catalyst is needed to resume the rally, while USD dynamics and geopolitics weigh.
Silver Hovers Near 200-Day SMA After Sharp Drop, Downside Risks Persist
Silver (XAG/USD) edged higher on Monday after an nearly 8% plunge on Friday triggered by a stronger-than-expected US Nonfarm Payrolls report. The data reinforced expectations of prolonged higher Fed rates, keeping downside pressure on the metal.
WTI Oil Rises as Middle East Tensions Outweigh OPEC+ Output Hike
WTI crude oil climbed to around $89.95 on Monday, gaining 1.57% as escalating geopolitical tensions between Israel, Iran, and the Houthis overshadowed OPEC+'s planned production increase.
NYDIG Blames Bitcoin Slide; ZEC Surges; Strategy Buys 1,550 BTC
NYDIG attributed bitcoin's decline to multiple factors, while ZEC jumped 41.5% after a network vulnerability. Strategy added 1,550 BTC for $101M, and MetaMask unveiled an AI-agent wallet.
South Korea Steps Up FX Defense as Won Hits 2009 Lows
South Korean authorities held an emergency meeting and vowed stern action against speculative FX activity as USD/KRW trades at its weakest since 2009. The National Pension Service has resumed forward FX selling with a higher hedge ratio.
Foreign Investors Unload South Korean Stocks at Record Pace
Foreign investors sold $801 million of Kospi-listed shares on Monday, adding to $10 billion in outflows from the prior week. Year-to-date sales total $75 billion, according to Goldman Sachs.