Market news
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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.
Bearish Elliott Wave Pattern Targets WTI Crude at $68–$73
WTI Light Crude Oil maintains a bearish sequence from its May 19, 2026 high, with wave analysis suggesting a decline toward the $68–$73 range.
WTI Crude Oil Hovers Near Two-Month Low, Vulnerable Below $85.00
West Texas Intermediate crude oil struggles to attract buyers, trading near its lowest level since April 17 and remaining vulnerable below the $85.00 mark and the 100-day SMA.
VaR Trap Suggested as Barrier Keeping Oil Below $100
Analysts point to a Value-at-Risk (VaR) trap as a key factor preventing oil prices from breaking above $100 per barrel, according to a social-media post citing Jeffrey Currie.
Asia Open: Markets Rally Despite Sticky Inflation and ECB Hike
Risk assets surged in Asia as markets ignored sticky inflation, an ECB rate hike, and geopolitical tensions, with stocks and bonds both rallying sharply.
GBP/USD Stays Capped Below 100-Day SMA Ahead of UK GDP Data
GBP/USD trades flat near 1.3415 as traders await UK monthly GDP data. The pair remains capped below the key 100-day simple moving average.
Asian Stocks Rise on Easing US-Iran Tensions, SpaceX Debut in Focus
Asian equities advanced on Friday as US President Donald Trump indicated a peace agreement with Iran could be finalized soon, lowering oil prices and boosting risk sentiment. Markets also awaited the debut of SpaceX.
AUD/JPY edges higher to 112.80 as peace hopes boost risk sentiment
AUD/JPY rose to around 112.80 in early European trading on Friday, supported by optimism over a potential Middle East peace deal. The pair remains in a bullish structure despite fading upside momentum.
RBA to Hold Cash Rate at 4.35% on June 16 – Reuters Poll
A Reuters poll shows that 42 of 45 economists expect the Reserve Bank of Australia to keep its official cash rate unchanged at 4.35% at its June 16 meeting, pausing after three consecutive hikes.
USD/JPY rises past 160.00 on Mideast tensions, yen weakens
The USD/JPY pair climbed further beyond 160.00 during Asian trading on Friday, moving away from a one-week low as escalating Middle East tensions undermined the Japanese yen.
Indonesian Rupiah Declines as US-Iran Military Tensions Rise
The Indonesian rupiah weakened against the US dollar, with USD/IDR trading around 17,950 during Asian hours on Friday. Renewed military friction between the US and Iran boosted safe-haven demand for the greenback.
Gold Price Forecast: Downside Risks Persist with Bear Cross
Gold prices returned to negative territory on Friday after a short-covering rally above $4,200. The metal faces a bear cross and is on track for a second consecutive weekly loss, with YTD lows near $4,000 in focus.
Gold Weakens as Iran Deal Uncertainty and Hawkish Fed Support USD
Gold (XAU/USD) stalled its recovery from multi-month lows after a brief Asian session uptick to the $4,246-$4,247 region, pressured by geopolitical uncertainty and a firm US dollar.
EUR/USD Trades Lower, Needs 20-Day SMA Break for Recovery
EUR/USD slipped to 1.1567 during European trade on Friday as the US dollar rebounded slightly. Analysts note that a sustained recovery would require a break above the 20-day simple moving average.
Ripple and Bitso Bring MXN-Backed Stablecoin MXNB to XRP Ledger
Ripple and Bitso have expanded their partnership, integrating Bitso's MXN-backed stablecoin MXNB onto the XRP Ledger to facilitate enterprise stablecoin settlement across Latin America.
US Dollar Index Rises Above 99.50 on Middle East Tensions, Hot PPI
The US Dollar Index (DXY) trades near 99.80 during Asian hours on Friday, buoyed by escalating Middle East uncertainty and stronger-than-expected US PPI data.