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US Ground Beef Prices Hit Record $7.06/lb, Up 13% YoY as Cattle Herd Shrinks to 75-Year Low
The average price of US ground beef rose 13% year-on-year in May to a record $7.06 per pound, while steak prices surged 16% to $12.80. The US cattle herd has fallen to its smallest in 75 years, constrained by drought, high production costs, and a screwworm outbreak in Texas.
Euro Strengthens After ECB Hikes Rates for First Time Since 2023
The euro rose against the dollar to around 1.1575 on Friday after the European Central Bank raised interest rates for the first time since 2023, with improved risk sentiment also supporting the move.
Gold Rebounds from 6-Month Low as Trump Cancels Iran Strikes
Gold prices rose near $4,240 during early European trading Friday, recovering from a six-month low after US President Trump canceled planned military strikes on Iran, boosting hopes for a truce deal.
GBP/JPY Consolidates Near 214.70 as Intervention Worries Cap Upside
The Pound Sterling ended Thursday almost flat near 214.70, with market sentiment improving after US President Donald Trump cancelled attacks and hinted at a possible deal. However, intervention concerns continue to limit further gains in GBP/JPY.
Turnaround Tuesday Pattern Explained as Weekend Fear Cycle
The frequently cited 'Turnaround Tuesday' pattern is not merely a market cliché but a manifestation of the weekend fear cycle, according to trading commentary.
Big Tech's AI Push Drives Record $159B Corporate Bond Issuance
Alphabet, Amazon, Meta, Microsoft, and Oracle have issued a record $159 billion in corporate bonds in 2026, already surpassing the full-year 2025 total by 47% and exceeding the combined $150 billion issued from 2020 to 2024. AI-related global debt issuance is expected to double to about $570 billion in 2026.
British Pound Rallies on US-Iran De-escalation
Sterling recovers sharply after President Trump cancels planned strikes on Iran, triggering a risk-on rally that lifts the pound from intraday lows.
US-Iran Deal Proposal: Ceasefire, Hormuz Reopening, Sanctions Relief
A proposed US-Iran deal includes a 60+ day ceasefire, reopening of the Strait of Hormuz within 30 days, phased sanctions relief tied to resumed Iran oil exports, and continued nuclear talks, according to Al Arabiya.
Lennar Q2 FY26 Earnings: Revenue Miss and Weak Guidance
Lennar reported Q2 FY26 revenue of $7.9B, missing the $8.02B estimate. Adjusted EPS was in line at $1.24, but Q3 deliveries and new orders guidance fell short, signaling soft demand.
WTI Retreats to $85 Amid Middle East Peace Hopes
West Texas Intermediate crude oil fell to around $85, its lowest since mid-April, as optimism over a resolution to the Middle East conflict pressured prices.
Yen Strengthens as War Cancelation Spurs USD/JPY Drop
USD/JPY traded around 160.50 until a geopolitical development—the cancellation of a war—caused the yen to rally without any intervention from Tokyo.
AUD Rallies on Peace Deal Missing One Signature
The Australian Dollar rallied on Thursday, climbing above 0.7000 as a peace agreement between Washington and Tehran remains incomplete, lacking one final signature.
Commerzbank: Oil Shock and Reserve Strategy Impact Yuan
USD/CNY is near 6.78, with the PBoC model implying a slightly stronger fixing. China's domestic oil reserve tapping is affecting the Yuan.
Trump Says Iran Deal Near Final, Cancels Military Strikes
President Trump announced he has called off planned military strikes against Iran, citing an agreement that is in its final shape.
Trump Says Iran Deal Approved by Supreme Leader, Signing 'Coming Soon'
President Trump announced that Iran's Supreme Leader has approved a US-Iran deal, with details including the lifting of the US naval blockade, a memorandum of understanding, and the shelving of the Kharg Island operation. US oil prices extended losses on the news.
EUR/USD Rises Toward 1.1600 on Iran Peace Hopes, but RSI Stays Bearish
The EUR/USD pair surged over 0.36% as the US dollar weakened after President Trump canceled strikes on Iran, citing progress on a peace agreement. Despite the rally, the RSI remains in bearish territory.
Adobe Q2 FY26 earnings beat across all metrics; CFO departing June 15
Adobe reported Q2 FY26 revenue of $6.62B and adjusted EPS of $5.96, both surpassing estimates. The company also issued strong Q3 guidance and announced CFO Dan Durn will leave on June 15.
US Dollar Retreats from Ten-Week High as ECB Outlook Weighs on Euro
The US Dollar Index fell sharply to 99.60 after hitting a three-month high, as profit-taking offset stronger-than-expected Core PPI data. The Euro came under pressure from ECB policy outlook.
Bank of Thailand Sees No Need for Emergency Meeting on Baht Weakness
The Bank of Thailand rejects the need for an emergency policy meeting, stating the baht has only modestly weakened amid the U.S.–Iran conflict, with strong external buffers and signs of returning inflows to long-term bonds.
UOB Maintains Mildly Positive USD/SGD View, Eyes 1.2900
UOB FX strategists Quek Ser Leang and Lee Sue Ann keep a mildly bullish stance on USD/SGD, targeting a test of 1.2900 in the near term with 1.2915 as a tougher resistance. They see gains intact as long as the pair holds above 1.2830.
Rising Treasury Yields Pose Biggest Threat to Equities Since 2008
The 3-month correlation between the 10-year Treasury yield and the S&P 500 has reached -0.62, the most negative in at least 15 years, meaning stocks fall when yields rise.
Silver Rallies 4% on Trump's Iran Strike Cancellation, Bias Bearish
Silver (XAG/USD) bounced over 4% from daily lows near $61.50 after US President Trump canceled planned attacks on Iran, though the outlook remains bearish.
US Dollar Index Retreats from Two-Month High After Trump Cancels Iran Strikes
The US Dollar Index trimmed gains on Thursday after President Trump called off planned strikes on Iran, pulling back from a two-month high.
Standard Chartered: China May Data Shows Solid Production, Weak Demand
Standard Chartered economists note China's May economic data revealed robust industrial output but continued soft demand, keeping the recovery uneven.