Market news
Crypto, stocks, forex and macro, aggregated for traders.
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.
EUR/USD Trades Flat Near 1.1575 as 1.1600 Resistance Holds
The Euro gave back earlier gains against the US Dollar and is trading practically unchanged at 1.1575, with bulls unable to breach the 1.1600 level.
MUFG: Higher-for-Longer Rate Backdrop Supports US Dollar
MUFG analysts argue that firmer US inflation and resilient labor markets underpin a higher-for-longer global rates backdrop, supporting the US dollar.
US Copper Tariff Decision Expected by June 30
The US Commerce Secretary must deliver a recommendation on copper import tariffs to President Trump by June 30. Markets have already begun pricing in potential outcomes.
EUR/USD Expected to Drift Toward 1.1400 – BBH
Brown Brothers Harriman's Elias Haddad expects EUR/USD to edge lower toward 1.1400 as US growth outperforms, following a brief dip near 1.1500 after the ECB decision.
British Pound Steady on Iran Peace Hopes Despite Weak UK GDP
The British Pound holds a moderately positive tone against the US Dollar as optimism over a US-Iran peace deal offsets disappointing UK GDP data.
USD/BRL Faces Downside Risk, SocGen Says
Societe Generale analysts note USD/BRL rebounding from near 4.88, approaching key resistance around 5.25. They highlight downside risk if support near 4.99 fails.
Iran's IRNA Reveals Key Terms of US-Iran Memorandum of Understanding
Iran's state news agency IRNA has published the key terms of the Memorandum of Understanding (MoU) being discussed with the United States. Bloomberg earlier reported the MoU is expected to be signed in Geneva.
Ethereum Internal Split Deepens: Over 8 Core Developers Leave Foundation
Amid a prolonged price sideways move for Ethereum, the community’s focus has shifted from network upgrades to ecosystem problems. Despite record staking levels, over eight core developers have left the Ethereum Foundation in the past year, highlighting an internal rift.
Warsh’s First FOMC Meeting Seen Neutral, Rate Cuts Removed from Dot Plot
Nordea’s Jan von Gerich predicts Kevin Warsh’s debut FOMC meeting on June 17 will deliver a more neutral policy stance, with earlier projected rate cuts likely removed from the dot plot and some hike calls appearing.
ECB Hikes Rate to 2.25% in First Move Since 2023, Hawkish Tone
The European Central Bank raised its deposit rate to 2.25%, its first rate hike since 2023, and delivered hawkish messaging, according to Deutsche Bank economists.
WTI Oil Falls for Second Day as US-Iran Deal Hopes Ease Tensions
West Texas Intermediate (WTI) extends its decline for a second straight day, trading near $82.90, as investors unwind defensive positions amid growing optimism over a potential US-Iran deal that could reduce the risk premium tied to Hormuz Strait disruptions.
Iran: No Commitment on Strait of Hormuz in US MOU
Iran's state news agency IRNA reports that a memorandum of understanding with the US includes no commitments on managing the Strait of Hormuz. Future administration of the strait will be decided regionally via dialogue between Tehran and Oman.
India May CPI Rises 3.93% YoY, Misses 4% Estimate
India's annual consumer price inflation eased to 3.93% in May, below the market expectation of 4% but above the prior month's reading.
Gold Slides Nearly 3% Weekly, Breaks Below 200-Day MA
Gold fell close to 3% week-over-week, trading below its 200-day moving average despite a halt in airstrikes on Iran. Prices are now roughly 20% lower than their level at the start of the conflict.
Gold Holds Near $4,220 on US-Iran MoU Hopes, Mean Reversion to 20-Day EMA Seen
Gold price holds near $4,220 during European trading, extending Thursday's recovery on expectations of a US-Iran Memorandum of Understanding. Analysts suggest a mean-reversion move to the 20-day EMA is likely.
Silver (XAG/USD) Bulls Target $69.00 as Market Mood Improves
Silver (XAG/USD) is recovering losses during Friday's European session, trading in the mid-$67.00s as improved market sentiment supports bullish momentum toward the $69.00 target.