Market news
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Commerzbank: US Jobs Data Volatility for USD Fades Quickly
Commerzbank analyst Michael Pfister notes that stronger US labour market data only impacts the dollar if it shifts rate-hike expectations, and the resulting volatility tends to fade fast.
ING: Weak Canadian Jobs Data Supports CAD Upside vs USD
ING's Francesco Pesole notes that weak April Canadian labour data and a dovish jobs contribution to Bank of Canada policy are supporting the Canadian dollar against the US dollar, despite a widening swap spread and USMCA risks.
Foxconn May Revenue Surges 39.57% YoY, Q2 Tracking Well Above Expectations
Foxconn reported May revenue up 39.57% year-on-year and said Q2 performance is tracking well above previously anticipated significant growth, driven by continued AI rack demand.
Poll: 68% of Americans Want Iran War to End Quickly
A new Economist/YouGov poll finds 68% of Americans want the conflict with Iran to end as soon as possible, with nearly 7 in 10 favoring a swift deal.
WTI Oil Holds Compressed Range as Labor and Logistics Factors Collide
WTI crude oil entered Friday in a narrow trading band as markets balance labor-market expectations against persistent logistical uncertainty across global energy supply chains.
Safe-Haven Appeal of Swiss Franc Weakens on Rate Gap, SNB Actions
OCBC’s FX strategist Simon Siong notes that the Swiss franc is losing its safe-haven edge as EUR/CHF drifts up from the 0.91 support level, driven by widening interest rate disadvantages and the SNB's active resistance to further franc appreciation.
Japanese Yen Edges Up but Stays Near 160.00 Intervention Threshold
The Japanese Yen strengthened slightly against the US Dollar on Friday, but USD/JPY remains above 159.90, staying close to the 160.00 level considered the intervention threshold.
Gold Rebounds Nearly 2% on Ceasefire Hopes, Then Eases as Hezbollah Rejects
ING reports gold rebounded nearly 2%, briefly topping $4,500/oz, as a tentative Israel-Lebanon ceasefire reduced immediate geopolitical risk, before easing when Hezbollah rejected the proposal.
MUFG Sees Balanced Risks in Upcoming US NFP Data
MUFG analyst Lloyd Chan expects Friday's nonfarm payrolls report to show a modest slowdown, noting that the consensus estimate of 88k already factors in softer hiring after April's 115k gain.
Critical Bug in Zcash Orchard Pool Allowed Unlimited Fake ZEC Minting
Shielded Labs discovered a critical vulnerability in Zcash's Orchard privacy pool that could have enabled unlimited minting of untraceable fake ZEC tokens since its activation in 2022. The bug was fixed urgently, but there is no way to know if it was exploited.
Commerzbank: Turkish Lira Risks as May CPI Seen Sticky
Commerzbank analyst Ghose expects Turkey's May CPI to show only modest moderation from April's spike, keeping inflation momentum high and lira risks elevated.
Euro faces downside risks toward key supports against US Dollar – UOB
UOB analysts Quek Ser Leang and Lee Sue Ann see EUR/USD consolidating near 1.16 with flattening intraday momentum indicators, but the broader bias remains tilted to the downside, highlighting risks toward key support levels.
AUD/USD Falls to Near 0.7100 After Slipping Below 50-Day EMA
The AUD/USD pair depreciated, trading around 0.7120 in Asian hours, after slipping below the 50-day EMA, with technical analysis showing consolidation within a rectangle pattern.
OECD cuts 2026 global growth forecast to 2.8%
The OECD lowered its 2026 global GDP growth projection to 2.8% from 3.4% in its latest Economic Outlook, signaling a weaker near-term outlook.
WTI Flattens Near $91 Despite Fragile Israel-Lebanon Ceasefire
WTI crude oil trades flat around $91.00 during early European trade on Friday, as a US-brokered ceasefire between Israel and Lebanon remains fragile due to continued attacks.
Asia Market Open: Korean Volatility, Indonesia Rates Steady, US Jobs in Focus
Asian markets open with continued Korean volatility, Indonesia's central bank holds rates, and attention shifts to US May nonfarm payrolls. Meanwhile, Anthropic issues a new AI risk warning.
AUD/JPY Eases to 114.00 but Holds Bullish Structure Above 100-Day SMA
The AUD/JPY cross slipped to around 114.00 during early European trading on Friday, but the pair retains a bullish setup as it stays above the 100-day SMA. Fears of Japanese intervention provide support to the yen.
NFP Preview: US Payrolls Seen Rising 85,000 in May, Jobless Rate Steady at 4.3%
The upcoming US nonfarm payrolls report for May is expected to show an addition of 85,000 jobs, with the unemployment rate holding at 4.3% and average hourly earnings rising 0.3% month-over-month.
US Leading Indicators Hold Up Despite Early 2026 Growth Slowdown
US nominal growth is heating up as leading indicators beat expectations, even as economic growth cooled at the start of 2026. Improving labor market conditions and solid investment demand are providing support.
Indian Rupee Ticks Lower as RBI Holds Repo Rate at 5.25%
The Indian Rupee saw marginal selling pressure after the RBI left its repo rate unchanged at 5.25%, as widely expected. Despite the move, the USD/INR pair was reported marginally lower.
Swiss Franc Holds Gains as SNB Rate Hike Odds Fade
The Swiss Franc strengthened against the US Dollar despite softer inflation data reducing expectations of a rate hike by the Swiss National Bank. USD/CHF remained subdued near 0.7890 during Asian hours on Friday.
RBI Holds Repo Rate at 5.25% in June, Impact on Indian Rupee
The Reserve Bank of India kept its repo rate unchanged at 5.25% after the June monetary policy meeting, a decision in line with market expectations. The hold may provide near-term support for the Indian Rupee.
EUR/JPY Hovers Near 186.00 at Descending Channel Top
EUR/JPY trades around 185.80 in Asian trade Friday, holding a constructive bullish bias above key exponential moving averages.
US Nonfarm Payrolls Preview: Stable Job Market Could Bolster Fed Rate Hike Odds
The US Bureau of Labor Statistics will release May Nonfarm Payrolls data on Friday. The report is expected to show a broadly stable labor market, which may increase expectations for further Federal Reserve rate hikes.