Market news
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US Dollar Index Climbs to Highest Since May 2025 on Fed Hike Bets
The US Dollar Index (DXY) extends its rally on Tuesday, climbing to its highest level since May 2025, trading around 100.40, up 0.4% on the day.
AI Stocks Slide on Micron Outlook, BofA Sees Visibility into 2028
AI-related stocks fell sharply on Tuesday, with the Nasdaq 100 down 2.6%, as a 10% sell-off in South Korean memory chip stocks spilled over and Micron's earnings setup disappointed. BofA remains positive on AI visibility through 2028.
Gold Price Slides as AI Rout Fuels US Dollar Flight
Gold (XAU/USD) dropped over 1.30% on Tuesday, reversing Monday’s gains, as a hawkish Federal Reserve and risk-off sentiment boosted the US Dollar. An AI-driven market rout further fueled demand for the greenback as a safe haven.
Retail Demand for SpaceX IPO Hits Record $405 Million in First Week
Retail investors poured $405 million into SpaceX (SPCX) during its first five trading sessions, the largest first-week retail purchase of any IPO on record, according to Vanda Research.
Commerzbank: Weak KRW, Hawkish BoK Expectations Persist
Commerzbank notes strong South Korean export momentum but says the won remains one of Asia's weakest currencies, with hawkish Bank of Korea expectations still supporting the case for a weaker KRW.
AUD/USD Falls Near Three-Month Low Ahead of Australian CPI
The AUD/USD fell to near 0.6920 on Tuesday as traders await the Australian Consumer Price Index for clues on RBA policy.
Dow Jones Holds Green as Chip Sector Craters
The Dow Jones Industrial Average stayed green on Tuesday despite a broad market selloff, but the underlying reason for its resilience raises concerns.
Colombia Elects Right-Wing Populist Abelardo de la Espriella
Right-wing populist candidate Abelardo de la Espriella won Colombia's presidential runoff on June 21, with record voter turnout.
Eli Lilly and Bayer Warn Germany’s Pharma Policies Risk Investment
Eli Lilly and Bayer have criticized Germany’s spending policies on innovative medicines, warning they could undermine the country’s attractiveness for pharmaceutical investment, according to a Financial Times report.
Pakistan PM Defends Iran's Missile Program, Says Objections Unnecessary
Pakistan's Prime Minister Shehbaz Sharif defended Iran's ballistic missile program, arguing that many countries possess such capabilities and that objections would only create unnecessary controversy and delays.
Trump Denies Iran's Claim on IAEA Inspections, Warns of Talks Cancellation
President Trump refuted Iran's assertion that no IAEA inspections are scheduled, stating Tehran has committed to full inspections and warning he would immediately cancel talks if that were not the case.
Trump Says Iran Mistaken on IAEA Inspectors, Talks Continue
Donald Trump stated that Iran is wrong about IAEA inspectors and sees no urgent need to deploy them, while negotiations with Tehran are ongoing and a deal remains possible.
India and US Close to Formalizing Interim Trade Agreement, DBS Economist Says
DBS economist Radhika Rao reports that India and the United States are nearing the finalization of an interim trade agreement under a new framework.
Hut 8 to Pay $2.35M in Investor Lawsuit Over US Bitcoin Merger
Hut 8 will pay $2.35 million to settle an investor lawsuit related to its merger with US Bitcoin.
Yen Steadies as USD/JPY Rally Shows Exhaustion – Scotiabank
The Japanese Yen edged higher on Tuesday, outperforming G10 peers as stronger PMI data signaled improving growth, according to Scotiabank strategists. They note signs of exhaustion in the USD/JPY advance amid narrowing yield spreads.
Strait of Hormuz Shipping Traffic Nearly Triples in Week
Vessel crossings through the Strait of Hormuz surged from 32 to 93 week-on-week, according to MarineTraffic and Kpler data, signaling a rebound in shipping confidence after recent geopolitical tensions.
US Manufacturing Job Losses Hit Worst Level Since Pandemic
U.S. manufacturers cut jobs at the fastest pace since the COVID-19 pandemic, reflecting growing strain in the industrial sector amid weaker demand, high borrowing costs, and trade policy uncertainty.
SpaceX Bond Sale Attracts $89 Billion in Investor Demand
SpaceX has reportedly drawn $89 billion in demand for its inaugural U.S. bond offering, marking one of the largest investment-grade debt deals this year.
Tokenized Stock Trading Volume Hits Record $5.3B Last Month
Monthly tokenized stock trading volume reached $5.3 billion, up 44% month-over-month, while Solana's cumulative tokenized stock transfer volume surpassed $10 billion for the first time.
WTI Oil Drops Over 1% as Middle East Tensions Ease and Iran Supply Looms
West Texas Intermediate crude fell more than 1% on Tuesday, trading near $73.00, pressured by reduced geopolitical risk in the Middle East and the prospect of returning Iranian oil supplies.
Aussie Dollar Loses Momentum, Fails to Find Catalyst for Reversal
The Australian Dollar continues to decline, lacking a catalyst to halt its fall or reverse course.
EU Parliament Committee Approves Digital Euro Bill
The European Parliament's Committee on Economic and Monetary Affairs voted 43-14 to approve a digital euro bill. The digital euro would be an electronic form of central bank money issued by the ECB, with mandatory acceptance for most businesses and storage limits for citizens.
Silver Challenges 2026 Lows as Hawkish Fed Weighs
Silver trades near $62 per ounce, close to the 2026 low of $61.01, pressured by a hawkish Fed stance and easing Middle East tensions.
EUR/GBP Steadies as Weak UK PMIs Offset by Resilient Eurozone Data
EUR/GBP remained little changed on Tuesday after a sharp decline the prior day, as contrasting PMI data from the UK and Eurozone balanced each other.