Market news
Crypto, stocks, forex and macro, aggregated for traders.
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 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.
Polish Zloty under pressure as president blocks key reforms – Commerzbank
Commerzbank warns that President Karol Nawrocki's record number of vetoes, blocking legislation on crypto, tax and healthcare, is weighing on the Polish zloty. The bank expects obstruction to continue until 2027.
USD Upside Persists on Resilient Data, Says BBH Analyst
Brown Brothers Harriman analyst Elias Haddad notes that while improving US-Iran relations briefly weakened the dollar, resilient economic data supports further USD gains.
US-Iran Deal on Strait of Hormuz Nears Signing in Geneva – Bloomberg
Bloomberg reports that US and Iranian officials are close to signing a deal to reopen the Strait of Hormuz, with a possible agreement by the weekend as G7 leaders prepare to meet.
Nordea Sees Medium-Term Upside for EUR/USD
Nordea strategist Jan von Gerich argues the dollar has underperformed relative to historical patterns and expects a higher EUR/USD in the medium term, despite the pair remaining stuck between 1.15 and 1.16.
AUD Recovers Modest Losses Against USD, Lacks Follow-Through
The Australian Dollar reversed an intraday dip to the 0.7020 area and climbed to the top of its daily range during early European trading, though buying interest remained insufficient to sustain gains.
Societe Generale: INR Support via Capital Inflows, Not Tightening
Societe Generale notes the Indian government and RBI are relying on capital inflows to support the rupee rather than adopting tighter monetary policy.
ECB Hikes 25bp, Oil Prices Key to Dovish Outlook
The ECB delivered a 25bp rate hike as expected, but markets sought stronger forward guidance. Lower oil prices are acting as a dovish counterbalance, though renewed Iran tensions could push rates up.
AUD/USD Rebound Tests 0.7060 Resistance – UOB
AUD/USD's sharp rebound from 0.6979 to 0.7055 has room to extend toward 0.7060, but a clear break above this level is seen as unlikely near-term, according to UOB analysts.
Nomura Warns of USD Reversal Risks Despite Bullish Consensus
Nomura strategists note that while the US dollar’s bullish case is supported by strong data and Fed expectations, historical patterns around data surprises suggest downside risks ahead.
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.
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.
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.
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.
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.
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.