Market news
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Iran: US MoU Needs Finalization by Relevant Authorities
Iran's Mehr news agency reported on Friday that the draft memorandum of understanding with the United States regarding a permanent peace deal requires finalization by relevant authorities.
MUFG: US-Iran Deal Optimism Boosts EUR/USD
MUFG analyst Lee Hardman notes that renewed optimism over a potential US-Iran agreement has strengthened the euro against the dollar, pushing EUR/USD higher.
Police in 11 Countries Shut Down Crypto Service AudiA6, Seize €336M
A joint operation by law enforcement from 11 countries shut down the AudiA6 crypto service based in Georgia, which allegedly laundered over €336 million between 2022 and 2025, with arrests and seizures of assets.
ECB's Kocher: Too Early to Predict July Rate Decision
ECB Governing Council member Martin Kocher said it is too early to discuss the central bank's July interest rate decision.
Brent Drops Below $90 as Downtrend Extends: Societe Generale
Societe Generale analysts note Brent crude has fallen below $90 per barrel amid US-Iran deal hopes and President Trump's cancelled strikes, with technical indicators confirming a sustained downtrend.
GBP/JPY Holds Gains on Weaker Yen Despite Disappointing UK Data
GBP/JPY regained positive traction during European trading, supported by a broadly weaker JPY, despite unimpressive UK economic data.
ECB's Makhlouf Says Central Bank Must Get Ahead of Inflation
European Central Bank Governing Council member Gabriel Makhlouf stated on Friday that the central bank needs to act preemptively to prevent inflation from accelerating further.
Japanese Yen Trades Back to Intervention Levels Despite Expected BoJ Hike
The Japanese Yen continues to face downside pressure against the US Dollar, trading at levels that have historically triggered intervention, despite widespread expectations of a BoJ rate hike.
Euro Gains Against Yen on ECB Rate Hike Hopes
The euro rose 0.12% against the Japanese yen during European trading, reaching near 185.45, as expectations for further ECB interest rate hikes bolstered the single currency.
Commerzbank: Indian Rupee Downside Risks Limited by Policy Support
Commerzbank analysts note that the Indian Rupee has weakened sharply against the dollar in 2026 due to higher oil prices and portfolio outflows, but policy support is limiting further downside risks.
USD/CHF Rebounds from EMA Support, Trades Above 0.7950
USD/CHF recovered from modest losses, trading around 0.7960 during European hours on Friday. The pair remains within an ascending channel, indicating continued bullish momentum.
NZD/USD Dips Below 0.5850 as Hot US PPI Fuels Dollar Strength
The New Zealand Dollar weakened against the US Dollar, falling below 0.5850 to around 0.5820, after stronger-than-expected US Producer Price Index data boosted the greenback.
US Dollar Index Holds Gains Near 99.80 on Risk Aversion, Hawkish Fed
The US Dollar Index (DXY) is trading around 99.80 during early European hours, extending gains as risk aversion and a hawkish Federal Reserve outlook support the dollar.
Warsh May Follow ECB Into Tightening Cycle Amid Energy Surge
Fed Chair Kevin Warsh may shift to a tighter monetary policy following the ECB, as the Iran conflict drives energy prices higher, altering global rate expectations for 2026.
SpaceX IPO Raises $75 Billion, Valued at $1.77 Trillion
SpaceX's long-awaited IPO has been a massive success, raising $75 billion and valuing the company at $1.77 trillion, making it the seventh-largest US firm.
Brent Dips Below $90 on Ceasefire Hopes, ING Sees Upside Risks
ING analysts note that Brent crude has fallen below $90 per barrel amid renewed ceasefire hopes, but they warn that upside risks remain in focus.
UK GDP Falls 0.1% in April, Pound Edges Higher
The British Pound strengthened slightly after data showed UK GDP contracted 0.1% month-on-month in April, with GBP/USD recovering early losses.
Philippine Military Vows to Continue Duty Amid Foreign Pressure
The Philippine military spokesperson stated that the armed forces will perform their constitutional duty despite any foreign pressure or attempts to target its leadership.
Equities Rally on Iran De-escalation Hopes – Danske Bank
Global equities rallied sharply on signals of a potential US-Iran peace agreement that could reopen the Strait of Hormuz and curb nuclear tensions, according to Danske Bank.
ECB Hawkish Tone Fails to Boost Euro as Rate Path Already Priced In
Commerzbank analysts note that while the ECB sounded slightly hawkish, markets have already priced in two more rate hikes, leaving the euro softer after Lagarde's cautious remarks.
SEC Proposes Rescinding Regulation NMS Rules 611 and 610(e)
The SEC has proposed rescinding Rule 611 and subparagraph (e) of Rule 610 under Regulation NMS, aiming to reduce costs and let competition and innovation drive US equity market evolution.
Silver Price Forecast: XAG/USD Could Rebound Toward $67.00 Amid Bullish Reversal Pattern
XAG/USD edged lower but is forming a falling wedge pattern on the daily chart, signaling a potential bullish reversal around the $67.00 level.
ECB's Nagel: All Options Open for July After Rate Hike
ECB Governing Council member Joachim Nagel stated that the central bank is keeping all options open for the July meeting, explaining that the recent rate hike was necessary due to the indirect effects of high energy prices.
ECB Hikes Rates 25 Bps with Hawkish Tone, US Yields Drop Sharply
The ECB raised rates by 25 basis points and hinted at further tightening, while US Treasury yields declined sharply in early trading.