Market news
Crypto, stocks, forex and macro, aggregated for traders.
US Shoots Down Iranian Drones Targeting Ships in Strait of Hormuz
The US military shot down two Iranian attack drones that were targeting vessels in the Strait of Hormuz, according to a US defense official, amid President Trump's public criticism of Iran's continued targeting of ships.
New Zealand Dollar Dips as Robust US Data Boosts Dollar
NZD/USD fell to 0.5830 on Friday, down 0.15% on the day, pressured by strong US sentiment and inflation figures that underpinned the US Dollar.
ECB Hawkish Forecasts Suggest Higher Terminal Rate – Nomura
The ECB raised its deposit rate by 25bp to 2.25% and signaled more hawkish forecasts, potentially leading to a higher terminal rate according to Nomura's European Economics team.
Seychelles Court Orders KuCoin to Pay $2M Over Delisted CHP Tokens
A Seychelles court ruled that KuCoin cannot treat 21 million delisted CHP tokens as abandoned and ordered the exchange to pay a Swiss investor over $2 million. The investor says KuCoin has not yet paid and is preparing further legal action.
SpaceX IPO Trading Expected Within 60 Minutes, First Indications at $175
SpaceX’s IPO first indications came in at $175 per share, a 30% premium over the $135 IPO price. Trading is expected to begin within the next hour after Nasdaq completes its price-discovery auction.
Bitcoin Price-to-Mining Difficulty Ratio Mirrors Past Bear Cycles, Analyst Says
An analyst known as Killa notes that the current Bitcoin price-to-mining difficulty ratio repeats patterns seen in previous bear markets, suggesting the capitulation phase is a clear accumulation signal. He forecasts the final cycle low may come later amid a stock market correction, with the bear market bottom forming by year-end.
SpaceX Set for Largest IPO in History, Musk Says
Elon Musk reveals he gave SpaceX less than a 10% chance of succeeding at launch. Today, the company is preparing the largest IPO in history, 2.5 times bigger than the previous record.
SpaceX IPO Indications at $175/Share, 30% Above Offer Price
First indications for SpaceX's IPO price shares at $175, a 30% premium over the $135 offer price. Total demand has reached $350 billion, with $250 billion from institutional investors.
GBP/USD Poised to Fall Toward 1.3100 – BBH
Brown Brothers Harriman strategist Elias Haddad expects GBP/USD to decline to 1.3100 as US growth outperforms the UK.
Spot Bitcoin ETF Volume Nears $2 Trillion; Multiple Crypto Catalysts and Headwinds Emerge
The SEC’s proposal to scrap key NMS rules could boost tokenized stocks. BlackRock filed for a yield-bearing Bitcoin ETF. Avalanche Treasury Co. shares fell 38% on Nasdaq debut. Cumulative spot Bitcoin ETF volume is nearing $2 trillion.
SpaceX IPO Draws Over $250B in Institutional Orders, $350B Total Demand
SpaceX's upcoming IPO has reportedly attracted over $250 billion in institutional orders and more than $350 billion in total demand, with 70% of the institutional book allocated to long-only funds and sovereign wealth funds, and 20% of shares set aside for retail investors.
Trump Calls Iran 'Dishonorable,' Rejects Leaked Deal Terms
President Trump stated that leaked deal terms from Iran are not the agreed terms, calling Iranian leaders 'very dishonorable' and lacking good faith.
Trump Denies Iran Leak, Calls Tehran Dishonorable Over Drone Attack
President Trump claimed that terms leaked by Iran to the media are not the real agreement and criticized Tehran's conduct, including a drone attack on Indian ships near the Hormuz Strait.
White House Official: Iran Deal Requires Nuclear Dismantlement, Performance-Based
A White House official, cited by Fox News, outlined key terms of a new Iran deal, including destruction of nuclear material, dismantling of the nuclear program, and performance-based release of funds.
US Stocks Open Mixed as Dow, S&P 500 Rise; NASDAQ Falls
At the market open, the S&P 500 gained 0.18% to 7,407.28, the Dow Jones rose 0.62% to 51,165.08, while the NASDAQ edged down 0.03% to 25,801.22.
ING: US-Iran Peace Deal Talk Softens Dollar but DXY Holds Firm
ING strategist Chris Turner notes that a potential US-Iran peace deal has softened the dollar, but the DXY index remains resilient as energy supply and inflation risks persist.
Wallet Drains 316K USDC After Signature – Security Warning
A recent wallet drainer incident saw 316K USDC lost due to a single malicious signature. Web3 Antivirus reminds users to check contracts, verify links, and revoke old approvals before signing.
Canadian Dollar Falls on Weaker Oil, Strong US Inflation
The Canadian Dollar weakened against the US Dollar on Friday, trading near 1.3990, as falling oil prices and robust US inflation data supported the USD while the BoC shows little urgency to raise rates.
ECB Likely to Continue Hiking Despite Softening Oil – Nordea
Jan von Gerich of Nordea notes the ECB delivered a widely expected 25bp rate hike and expects further tightening, with the next move likely in July. Broader inflation pressures mean lower energy costs alone won't ease policy.
SpaceX IPO Catalysts: What Traders Should Watch After June 12 Launch
The real trading story for SpaceX begins after its June 12 IPO, as the gap between narrative and fundamental delivery starts to close with each subsequent event.
Copper Near Record Highs on Supply Tightness, Tariff Risks – ING
ING notes LME copper is trading near record highs, supported by supply tightness, US tariff-driven stockpiling, and AI-related power demand. The COMEX-LME spread remains elevated as the market prices in tariff risk.
Mexican Peso Steady but Faces USMCA Risks: Societe Generale
Societe Generale strategists note that the Mexican peso remains stable despite increasing challenges, with inflation cooling to 3.94% in May and Banxico signaling the end of its easing cycle, though USMCA risks loom.
Commerzbank: Warsh's First Fed Meeting Unlikely to Cut Rates
Commerzbank analysts predict Kevin Warsh's first Federal Reserve meeting will not result in a rate cut, citing elevated PCE inflation and a still-solid labor market.
Gold Holds Near $4,200 as US-Iran Deal Talks Weigh
Gold consolidates around $4,200 after recovering from a nearly seven-month low of $4,023, as traders assess potential US-Iran peace deal developments.