Market news
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Silver Bounces From 56.50 but Fades Below 59.00
Silver saw a rare green session on Thursday, bouncing from 56.50 to near 59.00 after US data, then fading to around 58.00, up roughly 0.8%.
JPMorgan Board Wants Dimon to Stay CEO for Several More Years
JPMorgan's board is reportedly keen for Jamie Dimon to remain CEO for several more years, with a likely three-year extension before transitioning to executive chairman.
DXY Slips on Firm US Data, Fails to Extend Rally
The US Dollar Index eased from a multi-month high near 101.75 to 101.45 despite a batch of strong US economic data.
US Dollar Eases After PCE Data, Yen Stays Near Intervention Zone
The US Dollar Index retreated toward 101.40 after fresh economic data showed sticky inflation, stronger growth, and a resilient labor market. The Japanese Yen remains near levels that could trigger intervention.
Wall Street Ends Flat as Tech Slips, Broader Market Gains
The S&P 500 closed unchanged as megacap tech stocks fell while broader equities advanced. Micron surged on a strong outlook, and oil rose on Strait of Hormuz security concerns.
Fed's Williams: Inflation may take longer to reach 2% target
New York Fed President John Williams said monetary policy remains well positioned but warned inflation may take longer to return to the 2% target.
Chinese Yuan Weakness Extends After Breakout, UOB Says
UOB analysts highlight a sharp USD/CNH spike to 6.8195, with intraday consolidation expected between 6.8030 and 6.8185.
Semiconductor Index Faces Elliott Wave Resistance, Pullback Targets Seen
The Philadelphia Semiconductor Index (SOX) is encountering Elliott Wave resistance, with analysts highlighting emerging targets for the next pullback.
Fed's Goolsbee: Inflation Still the Central Challenge
Chicago Fed President Austan Goolsbee said inflation remains the primary problem for policymakers, warning that price pressures are still moving in the wrong direction.
Micron Overtakes Nvidia, Tesla as Most Traded US Stock with $70B Daily Turnover
Micron's daily turnover surpassed $70 billion for the first time, making it the most traded US stock and overtaking Nvidia and Tesla. The stock has surged 268% year-to-date and is the largest contributor to the S&P 500's 2025 gain.
Bank of Canada Report Flags Cost-of-Living, Housing Concerns as Key Public Issues
A Bank of Canada report highlights widespread public concern over the cost of living and housing, with some participants expressing distrust in official inflation data.
Banxico Holds Rate at 6.50% as Expected, Inflation Risks Tilted to Upside
Mexico's central bank kept its key interest rate unchanged at 6.50% unanimously, while maintaining an upward bias on inflation risks.
USD/CHF Retreats Below 0.8100 as Tweezer Top Forms
The USD/CHF pair dropped below 0.8100 on Thursday, snapping the dollar's six-day winning streak as US Treasury yields fell despite hotter-than-expected core PCE inflation data. A 'tweezer top' pattern signals potential further downside.
DBS: Bank of Thailand to Keep Policy Rate at 1.00% Through 2026
DBS Group Research economist Chua Han Teng expects the Bank of Thailand to maintain its policy rate at 1.00% through 2026, following a second consecutive hold. The steady stance supports fragile economic growth.
NZD/USD Hovers Near Seven-Month Lows as RSI Flashes Oversold
NZD/USD pauses its six-day losing streak near 0.5650 as the US Dollar eases after PCE data meets expectations, with RSI indicating oversold conditions.
Gold Rebounds as US Dollar Rally Stalls Despite High Core PCE
Gold (XAU/USD) recovers nearly 1% on Thursday as the US Dollar retreats, even after core PCE inflation data supports a 'higher-for-longer' Fed stance.
Iran Attacks Singapore-Flagged Cargo Ship in Strait of Hormuz
U.S. officials report that Iran attacked a Singapore-flagged cargo ship near the coast of Oman after warning vessels not to use the Strait of Hormuz without Iranian approval.
Japanese Yen Holds Near Intervention Levels as US Data Supports Fed Caution
USD/JPY trades near 161.80, close to multi-decade highs, as the yen remains under pressure from the US-Japan yield spread and cautious Fed stance.
Agency: Attacked Vessel Not Under UN Evacuation Framework; Hormuz Evacuation Suspended
An agency stated that the attacked vessel was not operating under the UN evacuation framework, and the Hormuz evacuation program remains suspended pending security clarity.
US and Uzbekistan Agree to Deepen Trade and Investment Ties
The United States and Uzbekistan have committed to reciprocal tariff reductions on industrial and agricultural goods and agreed to accelerate talks toward a bilateral trade and investment agreement.
Microsoft Raises Xbox Prices Following Apple's Price Hikes
Microsoft announced price increases for Xbox devices due to memory chip costs, shortly after Apple raised prices on MacBooks and iPads.
WTI Crude Oil Rebounds Above $71.50 Amid Short Covering
West Texas Intermediate crude oil rose more than 2% on Thursday, trading near $71.50, as short covering lifted prices after a three-day losing streak. Traders are monitoring fresh developments in the Strait of Hormuz.
Gold Holds Above $4,000 After Hitting New Lows, Silver Stabilizes Under $60
Gold prices steadied just above $4,000 after breaking to new lows yesterday, while silver paused under $60. Two potential catalysts that could have lifted metals from those lows failed to materialize.
UOB Keeps Constructive View on USD/SGD After Pair Touches 1.2991
UOB analysts Quek Ser Leang and Lee Sue Ann maintain a constructive outlook on USD/SGD after the pair briefly touched 1.2991 before closing near that level.