Market news
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South Korean Authorities Step Up FX Stabilisation Push – Societe Generale
Societe Generale notes that South Korean authorities have launched a multi-pronged FX stabilisation package to address short-term USD funding stress and speculative pressures on the won.
US Official: Iran Deal Ensures Reopening of Strait of Hormuz, Nuclear Containment
A senior US administration official stated that the Iran agreement guarantees long-term regional peace and the reopening of the Strait of Hormuz, achieving core US objectives regarding nuclear materials.
Deutsche Bank: UK Growth Resilient, Inflation Softening
Deutsche Bank's Sanjay Raja notes the UK economy is tracking close to the Bank of England's Scenario A, with stronger-than-expected early-2026 GDP but cooling labour market and easing price pressures.
Retail Investors Sell Stocks for Three Consecutive Days, First Streak Since 2020 Pandemic
Retail investors sold stocks for three consecutive days ending Wednesday, the first such streak since the 2020 pandemic. Monday saw the highest retail outflows since November 2023, with semiconductors and AI stocks hit hardest.
Gold Holds Above $4,200 on Hopes of US-Iran Deal
Gold (XAU/USD) consolidates above $4,200 as market optimism grows over a potential US-Iran deal expected next week, easing inflation concerns.
KRW Strengthens on Equities and Hawkish BoK – BBH
South Korean Won is outperforming on strong local equities and a hawkish central bank stance, according to Brown Brothers Harriman's Elias Haddad.
USD/CAD RSI Overbought; Bears Defend 1.4000 Level
USD/CAD traded higher on Friday, supported by lower oil prices weighing on the Canadian dollar. However, the RSI entered overbought territory and bears are actively defending the 1.4000 resistance level.
Yen Weakness Sparks Intervention Concerns as USD/JPY Remains Elevated
Scotiabank strategists warn that USD/JPY's persistent strength above prior intervention-trigger levels raises the risk of Japanese authorities stepping in to support the yen.
FOMC Meeting Next Week: Expected Neutrality as Warsh Takes Chair
The upcoming FOMC meeting is expected to maintain a neutral stance, with Kevin Warsh presiding as Chair for the first time. Analysts anticipate no major policy shifts given the precarious economic environment.
EUR/USD Steady as Market Awaits US-Iran Peace Deal Clarity
EUR/USD trades around 1.1573, fluctuating between modest gains and losses as traders await Tehran's decision on a potential agreement with the US to end the Middle East conflict.
Societe Generale: Policy Mix Supports Yuan Amid Subdued Inflation
Societe Generale notes that China's May CPI at 1.2% and core at 1.1% indicate weak consumer demand, while PPI hit a four-year high, yet a supportive policy mix is expected to stabilize the yuan.
Dow Jones Rises 0.6% to Near 51,200, Outperforms Nasdaq
The Dow Jones Industrial Average climbed 0.6% to around 51,200 on Friday, outperforming other major US indices as the Nasdaq Composite declined.
SpaceX Stock Surges 30%, Market Cap Reaches $2.3 Trillion
SpaceX stock ($SPCX) surged over 30% to a fresh record high, giving it a market capitalization of $2.3 trillion and making it the 6th largest public company in the world.
Crypto Roundup: BlackRock ETF Update, Miner Capitulation, JPMorgan Hedge View
BlackRock updated its Bitcoin ETF application with a yield feature, on-chain data indicates miner capitulation, and JPMorgan notes declining hedge interest in BTC and gold. Other news includes a Eurojust crypto closure, LG-Arbitrum L2 network, and SEC tokenization preparations.
iFX EXPO International Returns June 16–18 with Kraken, Google, Visa Speakers
iFX EXPO International will be held June 16–18, featuring senior leaders from Kraken, Google, and Visa discussing tech stacks, liquidity, tokenization, payments, and personal branding.
USD/JPY Holds Near 160.20 as Markets Eye BoJ and Fed Meetings
USD/JPY trading near 160.20 as traders await Bank of Japan policy decision and Kevin Warsh's first Fed meeting.
Pakistan PM Announces US-Iran Peace Deal Text Agreed
Pakistan's Prime Minister Shehbaz Sharif announced that a final agreed text of a peace deal between the US and Iran has been reached, with Pakistan working to finalize next steps.
Pakistan PM Sharif: Final Peace Deal Text Agreed, Working on Next Steps
Pakistan Prime Minister Sharif confirmed that a final text of the peace deal has been reached, dismissing misinformation campaigns. He stated that the country is working closely with both sides to finalize next steps, adding that peace has never been this close.
Silver firms on USD weakness, easing US-Iran haven demand
Silver (XAG/USD) trades around $67.50, up 0.21% on the day, supported by a weaker US dollar and reduced haven demand as US-Iran diplomatic progress improves market sentiment.
SpaceX Rises 24% in IPO Debut
Space Exploration Technologies (SPCX) shares surged 24% shortly after the start of its first trading day on Friday.
BoE Expected to Hold Rates at 3.75% in June, Reuters Poll Shows
A Reuters poll of 65 economists indicates the Bank of England will keep the Bank Rate at 3.75% at its June 18 meeting, though opinions are divided on the next move.
SpaceX IPO Sees $26B in Shares Traded in First 15 Minutes
The SpaceX IPO ($SPCX) recorded 160 million shares traded in its opening 15 minutes, equivalent to roughly $26 billion in volume. Average trading velocity reached $1.7 billion per minute.
SpaceX Stock Begins Trading at $160.83, Up 19% from IPO
SpaceX stock (SPCX) started trading at $160.83 per share, a 19% gain from its IPO price, pushing the company's valuation to $2.1 trillion and making it the 7th largest public company globally.
Pound Slips on UK GDP Contraction, Risk Appetite Improves
The British Pound turned lower against the US Dollar after data showed the UK economy contracted in April, while improved risk sentiment from US-Iran talks initially weighed on the Greenback.