Market news
Crypto, stocks, forex and macro, aggregated for traders.
BoJ Hikes Rate to 1.00%, Yen Remains Under Pressure – MUFG
MUFG notes the Japanese Yen is little changed after the BoJ's widely anticipated 0.25% rate hike to 1.00%, with USD/JPY still above 160.00. The central bank also paused its QE taper from FY2027 while continuing gradual JGB reductions.
Silver Rises to $70.51, Up 0.70% on Tuesday
Silver prices (XAG/USD) climbed on Tuesday, trading at $70.51 per troy ounce, up 0.70% from the previous close of $70.02, according to FXStreet data.
European Stocks Rise, Oil Drops on US-Iran Deal to Reopen Hormuz
European stock markets extended gains Tuesday after a Monday relief rally on news that the US and Iran will sign a deal to end the war and reopen the Strait of Hormuz. Oil prices fell on the prospect of increased supply.
Germany ZEW Economic Sentiment Turns Positive to 10.5 in June
Germany's ZEW Economic Sentiment index rebounded to 10.5 in June, moving into positive territory after a negative reading in May, sharply beating the expected -6.0.
Sociologist Vadim Volkov Discusses Anarchism's Influence on Blockchain, Crypto, and DAOs
In a podcast interview, sociologist Vadim Volkov explores the historical roots of anarchism and how classical anarchist ideas have shaped the development of blockchain technology, cryptocurrencies, and decentralized autonomous organizations (DAOs).
GBP/USD Faces Upside Risks, but Momentum Flattening – UOB
UOB analyst Quek Ser Leang notes that GBP/USD stalled just below key resistance at 1.3465, closing near 1.3410, with intraday momentum indicators turning. The outlook retains upside risks but shows signs of waning bullish momentum.
NZD/USD Holds Near 0.5800 Support as Risk Appetite Wanes
The New Zealand Dollar edges lower against the US Dollar on Tuesday, trading at 0.5820 after a bounce from session lows. Support at 0.5800 remains in focus as risk appetite declines.
USD/CAD extends uptrend toward 1.4150 – SocGen
Analyst Kenneth Broux of Societe Generale notes USD/CAD has broken above a key descending trendline and a multi-month base, signaling further upside toward 1.4150.
US Dollar Rallies as Fed Expectations Override Oil Drop: ING
The US Dollar is gaining ground, supported by strong economic data and Federal Reserve expectations, despite a sharp decline in oil prices, according to ING strategists.
RBA Holds Rate at 4.35%, Sees Sticky Inflation
The Reserve Bank of Australia kept its cash rate unchanged at 4.35%, noting inflation remains sticky but broadly in line with its base case, allowing a restrictive stance.
Societe Generale: BoJ Rate Hike Marks Floor for Yen Gains
Analysts at Societe Generale say the Bank of Japan's rate hike to 1.0% is the bottom of the neutral range and that new language on upside inflation risks supports further tightening, pointing to medium-term gains for the Japanese yen.
Iran Says U.S. Talks Progress in Two Phases: War, Assets Then Nuclear
Iranian Foreign Minister Araghchi announced a two-step roadmap for Iran-US negotiations: the first phase ended the war, secured the Strait of Hormuz, and unlocked frozen assets, while the second phase will address the nuclear issue and sanctions relief.
Bank of Japan Raises Rate to Highest Since 1995, USD/JPY Drops to 160.13
The Bank of Japan raised its key interest rate to the highest level since 1995, driving the USD/JPY pair down to 160.13 after two volatile trading sessions.
EUR/USD Faces Downside Risks as Swap Differential Widens – ING
ING analyst Francesco Pesole notes that EUR/USD has returned to Friday's levels, with markets now focusing on central bank dynamics rather than oil. A wider EUR:USD swap differential, coupled with weaker Eurozone growth and a less dovish Fed, limits upside for the euro.
ING: RBA Hawkish Hold Fails to Impress Markets
The Reserve Bank of Australia delivered a hawkish hold, stressing that inflation remains too high and further rate hikes are possible, but markets were unimpressed, according to ING's Francesco Pesole.
BoJ 25bp Hike to 1.00% Fails to Boost Yen, Says ING
ING analyst Chris Turner notes the Bank of Japan's 25bp rate hike to 1.00% has done little to strengthen the yen, as real rates remain negative and policy is still accommodative.
Grayscale Research Chief: US Block on Anthropic Highlights Need for Decentralized AI
Zach Pandl, head of research at Grayscale, says US authorities blocking Anthropic's AI models underscores the importance of decentralized AI like Bittensor, which he likens to 'Bitcoin for AI'.
BoJ and RBA Decisions Expected, USD Halts Drop on Iran Deal Doubts
The Bank of Japan and Reserve Bank of Australia made widely expected policy decisions, causing no major FX turbulence. The US dollar paused its decline, signaling market doubts about the US-Iran deal as details remain undisclosed.
BoJ Hikes to 1%, Bitcoin Unfazed as Playbook Changes
The Bank of Japan raised rates to 1.0%, yet Bitcoin remained near $66k, contrasting the sharp drop in August 2024. Four factors explain why the impact was muted this time.
Rupiah Strengthens on USD Weakness, USD/IDR Slides to 17,720
The Indonesian rupiah rose for a second day on Tuesday, pushing USD/IDR to around 17,720 as the US dollar gave back earlier gains despite a risk-off market mood.
GBP Pressured Toward 1.3100 Ahead of BoE Decision
The British Pound faces multiple headwinds from political noise and stagflationary pressures, with markets pushing back rate hike expectations ahead of the Bank of England's Thursday decision.
Air Force Strikes Dozens of Iranian Targets 1,500 km from Home Base
An air force launched an offensive 1,500 kilometers from its home base, striking dozens of targets in Iran within hours. The strikes significantly damaged Iran's air defense system and hit additional regime components.
Israeli Airstrikes Hit Dozens of Targets in Iran, Damage Air Defense
Israeli aircraft struck dozens of sites in Iran in response to Iranian missile fire, causing significant damage to Tehran's air defense system and other government-linked infrastructure.
Israel Air Force Prepared to Strike Iran but Halted Operation, Report Says
The Times of Israel reports that Israel's air force was preparing to strike hundreds of targets in Iran during recent fighting, but the operation was halted just an hour before launch, according to Air Force Chief Major General Omer Tischler.