Market news
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BAC Hits New All-Time High Above $57.55, Elliott Wave Supports Upside
Bank of America shares surpassed the January 2026 peak at $57.55, confirming a bullish Elliott Wave sequence and signaling further upside potential.
Swiss Franc Holds Losses Below 0.8100 as Firm Fed Rate Hike Bets Weigh
The Swiss Franc remains under pressure near 0.8088 against the US Dollar during Asian trading, as strong expectations for further Fed rate hikes support the greenback.
AUD/USD Extends Losses for Sixth Day Despite Better Aussie PMI
The Australian dollar weakened for a sixth straight session, trading near 0.6980, even as preliminary S&P Global PMI data for Australia came in stronger than expected.
Chinese Chip Exports Surge 111% YoY in May to Record $36B on AI Demand
China's semiconductor exports surged 111% year-on-year in May to a record $36 billion, driven by AI infrastructure spending and global shortages. Computer exports also jumped 66% to $27 billion, together accounting for roughly half of China's trade growth.
US Dollar Index Holds Near 13-Month Highs Around 101.00
The US Dollar Index (DXY) remains steady near 101.00, close to 13-month highs, during Asian trading hours after modest gains the previous day.
NZD/USD Extends Slide Near 0.5700 on Hawkish Fed
The NZD/USD pair fell for a fifth straight session, trading around 0.5705 during Asian hours Tuesday, pressured by a stronger US dollar following hawkish Federal Reserve comments.
Elon Musk Calls for Arrest of Ro Khanna After DOJ Bribery Case
Elon Musk called for the arrest of Representative Ro Khanna following a Department of Justice announcement that a USAID official and several business executives pleaded guilty in a bribery scheme involving over $550 million in government contracts.
Japan's Kihara Warns of Possible FX Intervention
Japan's Chief Cabinet Secretary Minoru Kihara stated that authorities will take appropriate action against foreign exchange moves if needed, signaling potential intervention.
USD/CAD Stays Near Multi-Month High on Bearish Oil, BoC-Fed Divergence
The USD/CAD pair edges higher in Asian trading, supported by falling oil prices and diverging monetary policy expectations between the Bank of Canada and the Federal Reserve.
White House Sees Momentum Toward Iran Deal as Trump Pressure Shows Results
Press Secretary Karoline Leavitt stated that President Trump would not agree to any deal that fails to protect U.S. national security, noting growing momentum toward an agreement with Iran.
US Moves to Keep Early-Stage Drug Research Domestically as Pharma Shifts Trials Abroad
U.S. officials are taking new steps to encourage pharmaceutical companies to conduct early-stage research and clinical studies domestically, as drugmakers increasingly move trials to China and Australia for faster and cheaper execution.
Silver dips to $64.50 as hawkish Fed pressures prices
Silver (XAG/USD) fell over 1% on Tuesday, trading near $64.50, as a hawkish Federal Reserve outlook weighed on the non-yielding metal.
AI Boom Drives Extreme Concentration in Asia Markets as Chip Giants Dominate
Samsung Electronics and SK Hynix together account for roughly 55% of South Korea's Kospi index, while Taiwan Semiconductor Manufacturing Company alone represents about 42% of Taiwan's Taiex index, highlighting growing concentration risk.
US Debt Interest Costs Hit Record $723 Billion in First 8 Months of FY2026
Federal net interest payments rose 9% YoY to $723 billion, making interest costs the second-largest federal spending category after Social Security. The CBO projects $16.2 trillion in net interest costs over the next decade.
British Pound Weakens Below 1.3250 as UK Prime Minister Keir Starmer Resigns
GBP/USD fell to near 1.3245 in early Asian trading on Tuesday as political uncertainty in the UK weighs on the pound following Prime Minister Keir Starmer's resignation.
WTI remains vulnerable near $74 as US lifts Iran sanctions
WTI crude oil consolidates around $74 per barrel amid reports that the US is lifting sanctions on Iran, which could increase global supply.
Japan’s Katayama Confirms Market Coordination Talks with US Treasury’s Bessent
Japan’s Finance Minister Satsuki Katayama held virtual talks with US Treasury Secretary Scott Bessent on Monday, discussing global financial markets and the Iran conflict.
PBOC Sets USD/CNY Reference Rate at 6.8171, Up From 6.8150
The People's Bank of China set the USD/CNY central rate at 6.8171 for the current trading session, compared to the previous fix of 6.8150, according to Reuters.
JPMorgan CEO Questions American Consumer Resilience
Marianne Lake, CEO of Consumer and Community Banking at JPMorgan Chase, recently affirmed the narrative of resilient American consumers. However, the post questions whether that label is accurate.
Kevin Warsh’s Fed Rhetoric May Mask Policy Continuity
A new 'sheriff' at the Federal Reserve, Kevin Warsh, sounds different from Jerome Powell but may enforce the same monetary policy laws, according to market commentary.
US Government Posts Large Budget Deficit as Tariff Revenue Goes Negative
After a surplus in April from income tax receipts, the U.S. government recorded a significant deficit in the latest period, with tariff revenue turning negative.
Japan June Flash Manufacturing PMI Rises to 54.9, Composite Hits 52.5
Japan's preliminary June manufacturing PMI increased to 54.9 from 54.5, while the composite PMI rose to 52.5 from 51.1, indicating faster private-sector growth and a strengthening economic recovery.
US VP Vance: Talks with Iran Making 'Very Good Progress'
US Vice President JD Vance stated that negotiations between the US and Iran have advanced significantly, despite Iran's 'threatening' and 'whining' behavior, as reported by CNBC.
Japanese Yen Flatlines Near 161.50 as Intervention Fears Persist
USD/JPY holds steady near 161.55 during early Asian trading, with traders cautious over potential intervention by Japanese authorities despite progress in US-Iran peace talks.