Market news
Crypto, stocks, forex and macro, aggregated for traders.
Micron Earnings and South Korea Tax News Drive Stock Market Volatility
Micron Technology's upcoming earnings report is fueling market swings similar to Nvidia's 2023-2024 earnings days, while South Korea's proposed tax on unrealized stock gains and record leverage amplify volatility. The broader AI narrative remains intact.
BoE's Taylor: Weak Economy Supports Holding Rates
Bank of England policymaker Alan Taylor said the UK enters the current shock with a very weak economy and argued that keeping interest rates on hold for an extended period remains the most appropriate policy response.
BoC Governor Warns Growing Global Imbalances Risk Financial Stability
Bank of Canada Governor Tiff Macklem stated that rising global imbalances could increase financial stability risks.
RY Elliott Wave Forecast Targets $226.96–$270.20 for Wave (3) Advance
Royal Bank of Canada (RY) shares are projected to advance in Wave (3) with a price target range of $226.96 to $270.20, according to an Elliott Wave analysis.
Ex-BIS head Carstens sees stablecoins coexisting with fiat, urges regulatory coordination
Former BIS chief Agustín Carstens says stablecoins could drive financial innovation and inclusion, but require better global regulatory coordination.
US S&P Global Composite PMI Rises to 52.2 in June
The flash estimate of the US S&P Global Composite PMI improved to 52.2 in June from 51.5 in May, indicating expansion in the private sector.
Canadian Dollar Softens as USD Rally Persists – Scotiabank
Scotiabank strategists note the Canadian Dollar remains soft despite a modest gain against the US Dollar, supported by firmer May CPI and stable US-Canada spreads.
Oil Prices Drop as US Grants 60-Day Waiver on Iranian Exports
Oil prices fell sharply after the US granted a 60-day waiver allowing Iranian exports, compounding pressure from rising flows through the Strait of Hormuz, according to ING analysts.
Wall Street Opens Lower: S&P Drops 1.6%, Nasdaq Falls 2.38%
U.S. stock indices opened sharply lower. The S&P 500 fell 1.61% to 7,352.61, the Nasdaq Composite dropped 2.38% to 25,542.70, and the Dow Jones Industrial Average declined 0.69% to 51,354.54.
Silver Slides Over 4% as Dollar Hits One-Year Highs on Fed Hawkish Stance
Silver (XAG/USD) dropped more than 4% on Tuesday as the US Dollar surged to near one-year highs, fueled by a hawkish Federal Reserve policy meeting that reinforced expectations of higher-for-longer interest rates.
Eurozone PMIs Show Two-Speed Recovery in June: TD Securities
TD Securities notes June Eurozone PMIs highlight a divergence between stabilizing German manufacturing and continued weakness in France.
NBC Analysts: Warsh Fed Increasing Policy Ambiguity
National Bank of Canada economists argue that a potential Kevin Warsh-led Federal Reserve is deliberately adding uncertainty by removing forward guidance, keeping markets guessing.
Kalshi restricts access for Indian users after regulatory pressure
Prediction market platform Kalshi has added India to a list of 55 jurisdictions where users are barred from the service, following a crackdown by Indian authorities on unlicensed betting and prediction platforms.
NASDAQ 100 Futures Plunge as Memory Chip Stocks Rout
NASDAQ 100 futures dropped nearly 3% in premarket trading Tuesday as memory chip stocks Micron and Sandisk sharply declined.
Eurozone PMI Weakness Challenges ECB Tightening Case
BNY analyst Geoff Yu notes that Eurozone PMIs remain weak despite a slightly better composite reading, with Germany and France underperforming.
Commerzbank: Heatwaves and Outages Support Natural Gas Prices
Commerzbank analysts note that intensifying heatwaves in Europe and Asia are expected to boost electricity demand and gas-fired power generation, putting additional pressure on European storage levels.
US Dollar Index Breakout Risks Build on Hawkish Fed – OCBC
OCBC's Sim Moh Siong notes the US Dollar is supported by higher Treasury yields and a more hawkish Federal Reserve path, with leaner communication likely to boost FX volatility.
Nasdaq 100 Futures Drop 3% on Global Tech Selloff; S. Korea Down 10%
Nasdaq 100 futures fell 3% as tech stocks globally tumbled. South Korea's stock market dropped 10% amid the selloff.
Stocks Slide, Tech Hit, Dollar Rises as Yen Draws Caution
US equity futures point lower as tech unwinding weighs, while the dollar strengthens and traders grow cautious on the yen. South Korea's Kospi fell 10% today but remains up nearly 95% for the year.
TD Securities Sees Australian CPI Easing to 4.2% YoY in May
TD Securities forecasts Australia's headline CPI to slip to 4.2% year-on-year in May, driven by lower transport and recreational costs, which could keep the RBA on hold.
EUR/USD Price Forecast: Testing 11-Month Lows Amid Broad USD Strength
The euro extends losses against the dollar, testing 11-month lows near 1.3991 as the greenback rallies on Fed tightening expectations and cautious market sentiment.
Japan Yen Intervention Risk Rises After US Treasury Call: BNY
BNY analyst Geoff Yu warns that Japanese yen intervention risk has increased following a call between Finance Minister Satsuki Katayama and US Treasury Secretary Scott Bessent, with both sides reaffirming that bold FX action remains possible.
AUD/USD Falls 0.8% as Risk Aversion Intensifies, CPI Data Awaited
The Australian Dollar dropped 0.8% to 0.6945 against the US Dollar during European trading, pressured by a broad risk-off mood. Traders now await the upcoming Australian CPI release.
Trump Claims Iran Agreed to Highest Level Nuclear Inspections
US President Donald Trump stated on Truth Social that Iran has fully agreed to the highest level of nuclear inspections for the foreseeable future.