Market news
Crypto, stocks, forex and macro, aggregated for traders.
British Pound Falls as US PPI Reflects Iran Conflict Impact
The British Pound slipped 0.19% on Thursday after the US Producer Price Index showed the effect of the Iran war on energy prices, fueling a US Dollar rebound and oil recovery.
BBH Sees CAD Downside Risk as BoC Holds Rate at 2.25%
Brown Brothers Harriman reports that the Bank of Canada kept its policy rate unchanged for a fifth straight meeting, signaling no urgency to hike and supporting downside risk for the Canadian dollar against the US dollar.
USD/JPY Steady but Elevated, Pressure Toward 162 – Scotiabank
Scotiabank strategists note USD/JPY remains elevated with pressure toward the 162 level, as a BoJ rate hike is widely expected this week.
SNB Expected to Hold Rate at 0.00% on June 18 – Nomura
Nomura analysts predict the Swiss National Bank will keep its policy rate unchanged at 0.00% at the upcoming June 18 meeting, citing low inflation and mixed economic data.
Allium Reveals $72M Profitable ZEC Shorts Before Vulnerability Disclosure
Analytics firm Allium identified five large short positions on Zcash (ZEC) totaling over $72 million on Hyperliquid, opened just days before a critical Orchard pool vulnerability was discovered. The bug was found on May 29 but disclosed on June 5, triggering a price crash from $685 to around $250.
ING: One Summer Hike Likely for BoE as UK Economy Softens
ING economist James Smith notes a softer UK backdrop compared to 2022, with falling vacancies, rising unemployment, and slowing wage growth, indicating the Bank of England is torn between a prolonged pause and a symbolic rate hike this summer.
Scotiabank: USD/CAD Eyes 1.40–1.41 on CAD Weakness
Scotia strategists note renewed Canadian dollar weakness as softer oil prices and geopolitical concerns push USD/CAD toward a 1.40–1.41 range, setting new year-to-date highs.
Crypto Roundup: Digital Asset Raises $355M, Citi Tokenizes Shares
A recap of crypto news from Asia and EMEA: Digital Asset secures $355M from a16z, Citi launches tokenized shares, Bitmine buys 125K ETH in three days, BlackRock updates Bitcoin ETF filing, and more.
US Inflation Returns to Pandemic Stimulus Levels
A market commentator warns that US inflation has climbed back to levels last seen after the $4 trillion pandemic stimulus, with most Americans reportedly unaware of the situation.
Oil Spikes on US-Iran Tensions, Analysts Flag Supply Risks and $150 Potential
Oil prices initially surged on renewed US-Iran tensions before pulling back, but BNY's Bob Savage warns that supply disruption fears and the fragility of any peace deal could push crude as high as $150.
UAE Pursues Bold Economic Ambitions with Oil and AI Investments
UAE leaders are pressing ahead with ambitious economic plans involving billions of dollars in increased oil production and AI data centers, while maintaining ties with Iran that were key for sanctioned oil trade before the war.
US Officials Warn Trump of Heavy Casualties in Potential Military Operation
CNN reports that officials have informed President Donald Trump that a planned military operation would likely require a significant number of ground troops and could result in heavy US casualties.
ECB's Lagarde Says Short-Term Inflation Expectations Have Risen
ECB President Christine Lagarde stated that short-term inflation expectations have increased, following the central bank's decision to raise key rates by 25 basis points at its June policy meeting.
Deutsche Bank Sees UK Inflation Risks Climbing Through 2027
Deutsche Bank expects UK headline CPI to rise to 3.01% in May, with core at 2.72% and services at 3.65%. The bank projects CPI averaging 3.1% this year, easing to 2.6% in 2026 and 2.3% in 2028, with risks skewed to the upside.
Trump Warns of Further Strikes on Iran, Says Talks Continue
US President Donald Trump stated that negotiations with Iran are ongoing but warned of additional military strikes later today, in an interview with Fox News.
RBA Likely to Keep Rates on Hold After Weak Data, Tax Changes – TD Securities
TD Securities strategists argue recent weak Australian data and federal budget tax changes should keep the RBA cash rate at 4.35% next week and likely on hold for an extended period.
SpaceX IPO Draws $70 Billion in Retail Orders, Sets Record
Retail investors have placed over $70 billion in orders for the SpaceX IPO, nearly covering the entire $75 billion raise and making it the largest IPO in history by retail demand alone.
Delaware and New Jersey Ban Crypto ATMs, Citing Fraud Risks
Delaware and New Jersey have enacted laws prohibiting crypto ATMs, citing elevated fraud risks. Violators face fines of up to $10,000.
US Producer Inflation Jumps to 6.5% in May, Highest Since November 2022
The U.S. Producer Price Index rose 6.5% year-over-year in May, accelerating from 5.7% in April and hitting the highest level since November 2022, according to the Bureau of Labor Statistics.
Nomura: SNB to Emphasize FX Intervention Despite CHF Drop
Nomura’s European economics team expects the Swiss National Bank to maintain its emphasis on a high willingness to intervene in foreign exchange markets, even as the Swiss franc has recently depreciated.
Trump Announces US Takeover of Iran's Kharg Island, Escalating Conflict
President Trump has effectively announced a US military takeover of Iran's Kharg Island, which controls roughly 90% of Iranian crude oil exports. This would mark the most significant escalation in the Iran conflict to date.
Gold Hits 2024 Low on Hawkish Rate Expectations
Gold (XAU/USD) fell to a six-month low on Thursday, erasing all year-to-date gains, as expectations for prolonged high interest rates and technical selling pressured the metal.
US May PPI Inflation Rises to 6.5%, Highest Since November 2022
May producer price index (PPI) inflation surged to 6.5% year-over-year, exceeding expectations of 6.4% and marking the highest level since November 2022. Core PPI held steady at 4.9%.
BBH: BoJ Rate Hike Fully Priced In, USD/JPY Near 160.50
Brown Brothers Harriman notes that USD/JPY is trading tightly around 160.50, just below the late-April pre-intervention high, with a 25 bps Bank of Japan rate hike to 1.00% already fully priced in.