Market news
Crypto, stocks, forex and macro, aggregated for traders.
Hacker Exploits Unused Aztec Smart Contract, Drains $2.15M
A hacker exploited a vulnerability in an outdated Aztec Payments smart contract on the Aztec L2 network, stealing approximately $2.15 million. The attacker spent only 0.134 ETH ($230) to execute the attack.
AUD/USD Holds Near 0.7030 as US Labor Data Supports USD
The Australian Dollar trades in a narrow range against the US Dollar on Thursday, with AUD/USD hovering around 0.7030. US jobless claims data points to a steady labor market, providing support for the greenback.
Nuclear power demand from AI data centers boosts CEG, VST
Constellation Energy (CEG) and Vistra Corp. (VST) are highlighted as direct beneficiaries of rising nuclear power demand from AI data centers.
GBP/USD Falls as Fed Hawkishness Overshadows BoE Rate Hold
The British Pound dropped on Thursday as the US Dollar strengthened following the Federal Reserve's hawkish stance, overriding the impact of the Bank of England's decision to keep rates unchanged in a 7-2 vote. GBP/USD fell to 1.3234.
WTI Oil Falls to 3-Month Low on Strait of Hormuz Deal Optimism
West Texas Intermediate crude oil dropped to around $73.20, a three-month low, as optimism over a potential deal to ease tensions in the Strait of Hormuz outweighed a larger-than-expected US crude inventory drawdown.
Spacex (SPCX) Holds Firm Amid $60B Forced Buying on Nasdaq
SpaceX (SPCX) shares trade steadily in early Nasdaq sessions as an engineered float restricts selling, with $60 billion in forced buying underpinning price stability.
Bitcoin 15% Below True Average Market Price of $77,200
Bitcoin is trading 15% below its true average market price of $77,200, according to Glassnode on-chain metrics. Short-term holders are still underwater, with the MVRV ratio at 0.9, and realized cap has declined 1.45% over 90 days, indicating a continued bearish trend.
Bank of England Holds Rate at 3.75% as Expected, Deutsche Bank Says
The Bank of England kept its key rate at 3.75% as widely expected, according to Deutsche Bank's Sanjay Raja, who notes a more divided Monetary Policy Committee but a stronger consensus for a prolonged pause.
US Semiconductor ETFs See Record $4.7B Weekly Inflows
Semiconductor ETFs SMH and SOXX attracted $4.7 billion in inflows last week, the largest combined weekly inflow on record, beating the prior record by ~62%. The SOX index is up 90% year-to-date.
Joseph Lubin: Biggest Crypto Bull Market Ahead, Fueled by AI and Wall Street
Ethereum co-founder Joseph Lubin predicts the largest crypto bull market is still to come, driven by artificial intelligence and institutional adoption from Wall Street. He shared the view in a recent interview.
BofA Bull & Bear Indicator Hits 8.8, Stays in Sell Zone
Bank of America's Bull & Bear indicator rose to 8.8, remaining deep in "sell" territory for global equities, signaling extreme investor euphoria.
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.