Market news
Crypto, stocks, forex and macro, aggregated for traders.
US Teens Face Tough Summer Job Market as Hiring Slows
Many American teenagers are struggling to find summer jobs this year, as hiring in retail, restaurants, and recreation has slowed, according to a report.
Euro Set for Weakness as Other Central Banks Leave ECB Alone
The Euro faces headwinds as the ECB's hawkish stance is not supported by BoE, SNB, Norges Bank, and Riksbank. BNY, Rabobank, and Societe Generale highlight different risks for the single currency.
US Dollar Extends Rally Above 100.00 After Hawkish Fed Update
The US Dollar Index (DXY) climbed back above 100.00 following the Federal Reserve’s hawkish policy update under new Chair Kevin. The rally raises the question of whether further gains are sustainable.
Trump: Oil Flowing, Stocks Roaring, Jobs at Records, Prices Dropping
Former President Trump touted strong economic conditions including record jobs and dropping prices, while asserting that oil is flowing and Iran will never get nuclear weapons.
USD/JPY Hits 160.95, Near Multi-Year High on Fed Hawkish Stance
USD/JPY traded around 160.85 on Thursday, reaching 160.95, its highest level since July, driven by the Federal Reserve’s hawkish bias and persistent intervention risk from Japan.
RaboResearch: BoE Holds Rate at 3.75% with 7-2 Split, Inflation May Peak Lower
The Bank of England kept its Bank Rate at 3.75% in a 7-2 vote, with two members favoring a 25bp hike. RaboResearch notes that falling energy prices could push inflation below earlier projections.
Wall Street Opens Higher: Dow Jones Up 0.79%, Nasdaq Rises 1.56%
Major U.S. stock indices opened higher on the day, with the Dow Jones Industrial Average rising 0.79%, the Nasdaq climbing 1.56%, and the S&P 500 gaining 1.20%.
Chinese Superconducting Quantum Computer Integrates Post-Quantum Cryptography
The 72-qubit Origin Wukong computer has integrated a post-quantum encryption framework, completing over 1 million tasks securely. The solution protects against both classical and quantum attacks.
Pound Faces Tough Task as BoE Navigates Fed Hawkish Surprise
The US dollar surged after the Fed's hawkish surprise, with nine FOMC members forecasting rate hikes in 2026. This complicates the BoE's policy path for the Pound.
Bank of England Holds Rate at 3.75%, Two Dissenters Vote for Hike
The Bank of England kept its key rate unchanged at 3.75% as widely anticipated. Two policymakers, including Greene, voted for a hike as an insurance against lingering inflation risks.
UK Unemployment Data Remains Persistent Thorn for Pound Since August 2024
UK unemployment has risen or held steady in most months since August 2024, with only two declines, keeping pressure on the British pound.
USD/CAD Range-Bound Bias Outlined by National Bank of Canada
National Bank of Canada discusses USD/CAD, noting recent moves and expectations for the pair. The report highlights key support and resistance levels and outlines scenarios for a potential breakout.
Norwegian Krone: August Hike Prospects Rise – Nomura
Nomura economists note that Norges Bank kept its policy rate at 4.25% in June but delivered hawkish guidance and a higher rate path, increasing the prospects of an August hike.
ECB's Lane: Further Rate Hikes Justified Even Under Milder Outlook
ECB Chief Economist Philip Lane stated that additional rate increases remain warranted to contain inflationary pressures, even if the economic outlook softens.
ECB's Lane Says Open to Looking Through Shocks, Sees Neutral Rate Upper End at 2.5%
ECB Chief Economist Philip Lane stated the central bank is open to looking through temporary shocks, and revised the upper end of the neutral rate estimate to 2.5% from 2.25%.
US Initial Jobless Claims Fall to 226K
The US Department of Labor reported that initial jobless claims dropped to 226,000 for the week ending June..., indicating a slight tightening in the labor market.
Hawkish FOMC Meeting Sees Rate Hike Projections; Dollar Unmoved
The FOMC delivered its most hawkish policy signal of the year, with inflation forecasts raised to 3.6% and nine officials projecting at least one rate hike before year-end. The dollar, however, showed little immediate reaction.
Canadian Dollar Dips as Fed Hawkish Outlook, Weaker Oil Pressure
The Canadian Dollar weakened against the US Dollar on Thursday, with USD/CAD rising to 1.4130 as the Federal Reserve's hawkish stance and lower oil prices weighed on the loonie.
How to Read and Track Bitcoin Transactions: A Guide
A step-by-step guide on analyzing Bitcoin transactions manually and using tools, covering blockchain forensics, tracking whales and exchange inflows, and understanding the probabilistic nature of tracing.
SNB Holds Rate at 0.00%, Keeps FX Intervention Option Open
Nomura reports the Swiss National Bank kept its policy rate at 0.00% in June and reiterated a heightened willingness to intervene in FX markets to curb franc strength.
Euro Rallies Against Pound After BoE Holds Rates
The Euro strengthened against the British Pound after the Bank of England left interest rates unchanged, extending its recovery.
BoE Holds Rate at 3.75% as MPC More United, Says Deutsche Bank
Deutsche Bank's Chief UK Economist Sanjay Raja notes the Bank of England kept Bank Rate at 3.75% as expected, with a more divided MPC on paper but a stronger consensus to hold, citing improved data and lower inflation.
Middle East Tensions Push Eurozone Housing Energy Efficiency to Forefront
Despite a tentative US-Iran agreement, continued Middle East friction is weighing on the eurozone economy, reviving focus on energy-efficient housing as the recovery falters.
ECB Hikes See Limited Regional Follow-Through – BNY
BNY's Bob Savage notes that ECB rate hikes have prompted little action from other European central banks, with the BoE, SNB, Norges Bank, and Riksbank all on hold. Inflation concerns remain domestic, while markets continue to price downside growth risks for the euro area.