Market news
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US-Iran Deal Hopes Lift Risk Appetite, Oil Near Lows
The prospect of a US-Iran agreement has boosted risk appetite despite unclear details, with oil prices hovering near two-month lows.
Japanese Yen in Focus as Risk Flows Shift on Geopolitical Easing
BNY's Bob Savage highlights the Japanese Yen as FX markets react to geopolitical de-escalation and shifting risk sentiment. The reopening of the Strait of Hormuz supports risk assets, while policy divergence involving JPY and KRW draws attention.
S&P 500 Poised for Recovery on Multiple Positive Factors
The S&P 500 is on track for a recovery as rumors of an imminent end to the Middle East conflict, SpaceX successes, positive US economic data, and reduced expectations of Fed tightening boost sentiment.
Ray Kurzweil Doubts Quantum Computing Will Crack Crypto
Futurist and ex-Google engineer Ray Kurzweil expressed skepticism about quantum computing's potential to break modern cryptography, pointing to a decade of unfulfilled promises and persistent high error rates.
Iran Deal Takes Bank of England Rate Hike Off Table
A revived Iran nuclear deal could keep UK inflation below 4% by restarting oil flows, allowing the Bank of England to skip a summer rate hike. A 7-2 vote in favor of no change is expected.
Deutsche Bank: Oil and AI Stocks Surge, Bonds and European Equities Decline
A Deutsche Bank review of market performance from late February to late March shows oil and AI-related trades surged, while bonds, most European equities, and precious metals fell.
BNY: Dollar Trades in Risk-On Mode After US-Iran Strait of Hormuz Deal
BNY’s Bob Savage notes the US Dollar is trading in a broader risk-on environment following the US-Iran agreement to reopen the Strait of Hormuz, which eased energy supply fears. FX markets are focused on policy divergence, with the dollar’s trajectory being reassessed alongside the yen.
SNB to Hold Interest Rates at 0% Through End of 2026, Reuters Poll Shows
All 35 economists surveyed in a Reuters poll expect the Swiss National Bank to keep its policy rate at 0% at the June 18 meeting and for the remainder of the year, with 28 of them forecasting no change through end-2026.
MUFG: Yen Short Positioning Elevated Ahead of BoJ Hike, USD/JPY Holds Above 160
MUFG analyst Lee Hardman notes that the Japanese yen has not benefited from lower energy prices, with USD/JPY still above 160.00 as short positioning remains elevated before the Bank of Japan's expected rate hike.
ECB's Kazimir Stresses Frontloading Rate Hikes Despite US-Iran Peace Deal
European Central Bank Governing Council member Peter Kazimir has emphasized the need for further interest rate increases, even after the peace deal between the US and Iran.
NBC: USD/CAD May Remain Range-Bound
National Bank of Canada notes USD/CAD has been consolidating and may stay range-bound amid shifting expectations for the Federal Reserve and Bank of Canada.
Strait of Hormuz Closed for Over 96 Hours: IRGC Navy Halts Passage
The IRGC Navy has not issued passage permits for over 96 hours, effectively closing the Strait of Hormuz to all vessels until further notice, according to IRIB News Agency.
AUD/USD Holds Near 0.7090 with Bullish Pressure Mounting
The Australian Dollar trims earlier gains against the US Dollar on Monday as markets assess the US-Iran peace agreement ahead of a busy central bank week.
Brent Oil Tumbles to Three-Month Low on US-Iran Peace Deal Optimism
Brent crude oil fell to its lowest in over three months on Monday, opening with a gap lower amid renewed optimism that a US-Iran peace deal could be reached.
AMD CEO Lisa Su Unveils Compact AI PC Challenging Nvidia's High-End GPUs
AMD CEO Lisa Su introduced a lunchbox-sized AI PC powered by the Ryzen AI Max+ 395 and up to 128GB of unified memory, capable of running 235B-parameter models locally without cloud or expensive GPU setups.
Yen Strengthens as US Dollar Gaps Down, Trump Announces Iran Deal
The US dollar opened with a downside gap that may persist, as President Trump announced a deal with Iran reopening the Strait of Hormuz from June 19, boosting the yen.
Brent Crude Plunges 35% from April Peaks on US-Iran Deal Prospects
Societe Generale reports Brent crude dropped sharply after a US-Iran memorandum of understanding and reopening prospects for the Strait of Hormuz. Prices are down 35% from April highs but remain above pre-war levels.
Rabobank Sees Gradual Upside Path for Euro
Rabobank's FX strategy team outlines a gradual upside path for the euro, noting that the dollar's initial safe-haven gains during the Iran conflict have faded after a ceasefire memorandum eased tensions and reduced Fed hike expectations.
HSBC: Hawkish Pivot Reshapes Global Macro as Oil, China Exports, US AI Surge
HSBC Asset Management flags a hawkish pivot in its weekly outlook, driven by higher oil prices, a surge in Chinese exports, and rising US AI investment.
Tesla Cup and Handle Pattern Targets $765 Amid Peace Deal Tailwinds
Tesla shares extended gains on Friday, supported by a potential US peace deal, with a cup-and-handle pattern pointing to a $765 target.
AUD/USD Rises as US-Iran Framework Lifts Risk Appetite Ahead of RBA Decision
AUD/USD trades higher around 0.7070, up 0.35% on the day, as a US-Iran framework agreement boosts risk appetite ahead of the Reserve Bank of Australia decision.
USD Extends Losses After US-Iran Interim Deal – MUFG
MUFG’s Lee Hardman notes the US Dollar has extended losses after the US and Iran reached an interim agreement to end conflict and reopen the Strait of Hormuz.
European Regulator Orders Unlicensed Platforms to Cease EU Operations After Transition Periods
The European regulator demanded that unlicensed platforms stop operating in EU countries once national transition periods expire. It also urged market participants to obtain licenses promptly and warned of risks to investors.
BBH: Riksbank to Hold Rate at 1.75%, Lean Against Hike Expectations
Brown Brothers Harriman expects the Riksbank to keep its policy rate unchanged at 1.75% for a sixth consecutive meeting and push back against market expectations of a 25 basis point hike.