Market news
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US Consumers Face 7%+ Mortgage Rates, 4.2% Inflation as CPI Mirrors Late 1970s
American consumers are dealing with mortgage rates above 7%, inflation over 4.2%, and a 30% drop in dollar purchasing power since 2020, while CPI inflation trends resemble the late 1970s.
Czech Koruna Outlook Supported by Early CNB Rate Hikes – ING
ING analyst Frantisek Taborsky notes that while Czech inflation surprised to the downside, strong wage growth and stable core inflation keep the Czech National Bank on track for a rate hike at its June meeting, supporting the koruna.
Align Technology Elliott Wave Analysis Suggests Potential New Highs
The monthly chart of Align Technology shows a completed wave III near $700 and an ongoing corrective wave IV, with potential for a wave V rally to new highs.
Macklem Warns Consecutive Rate Hikes Possible If Energy-Driven Inflation Broadens
Bank of Canada Governor Tiff Macklem said that if higher energy prices lead to generalized inflation, consecutive rate increases may be needed. He also noted recent volatility in Canadian jobs data, with employment little changed since January.
Macklem: Significant US Trade Restrictions May Force Rate Cuts
Bank of Canada Governor Macklem stated that significant new US trade restrictions could necessitate cutting interest rates, and that uncertainty remains unusually elevated.
Bank of Canada Focused on Preventing Energy Price Inflation from Becoming Persistent
Bank of Canada Governor Tiff Macklem stated that monetary policy remains focused on ensuring higher energy prices do not lead to persistent inflation, and the bank will watch for broadening price pressures.
BoC: Economy Weak, Excess Supply to Persist; Energy Prices Not Seen as Inflation Risk
The Bank of Canada stated that economic activity remains weak and uncertainty over U.S. trade policy continues. The central bank also indicated it will not allow higher energy prices to become persistent inflation, and expects the economy to stay in excess supply even after a rebound.
Bank of Canada: Limited Evidence of Broad-Based Energy Price Pass-Through
The Bank of Canada stated it continues to look through the near-term impact of the Middle East conflict on headline inflation, noting limited evidence so far of higher energy prices feeding broadly into other consumer prices.
US CPI Rises to 4.2%, Highest in Three Years
US inflation, as measured by the Consumer Price Index, rose to 4.2% year-over-year, the highest level in three years, up from 3.8% the previous month.
Strategy Holds Billions in Bitcoin, Raises Retail Capital via Securities
Strategy, Michael Saylor's firm, holds tens of billions in Bitcoin and increasingly raises retail investor capital through securities. Critics call it a Ponzi scheme, while supporters view it as effective risk management.
Brent Oil Muted After US-Iran Strikes, Near Recent Lows: MUFG
Brent oil prices have shown a muted response to renewed US-Iran military exchanges, trading near recent lows after briefly dipping below $90 per barrel, according to MUFG analysts Hardman and Lockhart.
US Apache Helicopter Involved in Iranian Drone Incident; 20 Retaliatory Strikes Ordered
President Trump detailed an incident where an Iranian drone lodged between two US Apache helicopter pilots in the Strait of Hormuz, leading to the first rescue by an unmanned sea drone. The US responded with 20 retaliatory strikes.
Canadian Dollar Rises as US CPI Miss Fails to Boost USD, BoC in Focus
The Canadian Dollar strengthened against the US Dollar on Wednesday after softer-than-expected US inflation data weighed on the greenback, while markets await the Bank of Canada's interest rate decision.
US CPI Inflation Hits 4.2% in May, Highest in Three Years
Annual US CPI inflation rose to 4.2% in May, the highest in three years, from 3.8% in April, matching market expectations.
US May CPI Rises to 4.2%, Highest Since April 2023
US headline CPI inflation accelerated to 4.2% in May, the highest since April 2023, while core CPI hit 2.9%, the highest since September 2025. Inflation now stands at more than double the Federal Reserve's 2% target, fueling speculation of potential rate hikes.
AUD/USD Seen Range-Bound Near 0.70–0.71 as Momentum Fades
Rabobank strategist Jane Foley notes the Australian Dollar has dropped from top G10 performer to the bottom as growth momentum wanes and the US Dollar strengthens, with a near-term outlook stuck around 0.70–0.71.
US CPI Hits Three-Year High of 4.2% in May
The US Consumer Price Index rose to 4.2% year-on-year in May, the highest in three years and matching market expectations.
Binance US Stock Trading Hits $400M AUM in First Week
Binance's direct US stock trading service reached $400M in assets under management within its first week, with over 80% of trading volume from developing countries. The exchange also forecasts up to 300M new users by 2031.
Trump Threatens Military Action Against Iran, Dow Futures Plunge
President Trump said he is considering ordering the US military to target Iranian power plants and bridges, per Fox News, sending Dow futures down over 400 points.
WTI Oil Bounces Back to Near $88 as Trump Warns Further Military Actions Against Iran
WTI crude oil recovered to around $88.00 during European trading on Wednesday after a previous pullback, as President Trump threatened additional military strikes on Iran.
Belgium Rejects US Demand for Travel Ban on DRC Over Ebola Fears
Belgium has refused a US request to bar travelers from the Democratic Republic of Congo, escalating a transatlantic dispute over Ebola containment measures during the World Cup.
Commerzbank: Strong SA GDP Masks Weak Demand, Weighs on ZAR
South Africa's stronger-than-expected GDP growth hides soft domestic demand, with weak consumption and private investment, according to Commerzbank analyst Volkmar Baur.
Yen Hits 160.50 Low as BoJ's Ueda Hospitalized
The Japanese yen weakened past 160.50 per US dollar on Wednesday, breaching a key level, as the market reacted to news that Bank of Japan Governor Kazuo Ueda has been hospitalized.
Silver Falls 2.11% to $63.99 on Wednesday
Silver prices declined on Wednesday, dropping 2.11% to $63.99 per troy ounce, according to FXStreet data.