Market news
Crypto, stocks, forex and macro, aggregated for traders.
Y Combinator's Dalal: Crypto Will Be Used by Every Country Unknowingly
At ETH Conference, Y Combinator's Nemi Dalal stated that crypto is more than a niche product and will eventually be used by nearly every country, often without users realizing it.
South Korean Won Gains on Policy Support and Pension Rebalancing
South Korea's Won has outperformed its peers as authorities step up stabilization measures, including new FX rules and tighter oversight of offshore derivatives and National Pension Fund hedging, according to Brown Brothers Harriman.
OpenAI IPO Odds Surge to 48% for $1.5 Trillion Market Cap on Day One
The probability of OpenAI's IPO closing above a $1.5 trillion market cap on the first day of trading has jumped to 48%, following the company's IPO filing. The news highlights the accelerating AI revolution, with three potential trillion-dollar IPOs on the horizon.
USD/CNH Consolidates in 6.7800-6.7950 Range – UOB
UOB strategists note limited upside momentum for USD/CNH after a slight rise to 6.79, expecting consolidation between 6.7800 and 6.7950 for the day.
GBP/JPY Nearly Flat at 213.60, Bulls Target 214.00
GBP/JPY trimmed earlier losses and turned nearly flat near 213.60, down 0.09% amid mixed market sentiment. Bulls are aiming for the 214.00 level.
Nvidia CEO Huang Says to Buy Qualcomm Stock: Report
A tweet from The Kobeissi Letter claims Nvidia CEO Jensen Huang advised buying Qualcomm ($QCOM) stock, adding that he spent the day selling others' stock.
USD/CHF confirms inverted head-and-shoulders, targets 0.80
USD/CHF advanced 0.30% on Monday as an inverted head-and-shoulders pattern was confirmed and price action cleared the 200-day SMA. Technicians eye a potential move toward 0.80.
Gilead and Merck announce positive Phase 3 data for once-weekly HIV treatment
Gilead and Merck reported positive Phase 3 results for their once-weekly oral HIV treatment islatravir/lenacapavir, with primary efficacy endpoints met at week 48 in both ISLEND-1 and ISLEND-2 trials.
Asia FX: Oil, Fed Outlook Weigh on KRW, IDR – OCBC
OCBC strategist Sim Moh Siong notes higher oil prices and a firmer US policy outlook are pressuring Asian currencies, particularly the Korean Won and Indonesian Rupiah.
Gold Holds Flat as Ceasefire Optimism Offsets US CPI Concerns
Gold (XAU/USD) trades unchanged on Monday, with improving Iran-Israel ceasefire sentiment countering expectations of a hawkish Federal Reserve after strong NFP data.
Trump Warned Netanyahu of Fighting Iran Alone, Urging Scale-Back of Strikes
Former President Trump warned Israeli Prime Minister Netanyahu that Israel could face Iran alone, leading to a reduction in planned large-scale strikes. Israel instead targeted an Iranian petrochemical facility, while US military assisted in intercepting Iranian missiles.
Trump Warns Netanyahu: Don't Count on US Support in Iran War
President Trump reportedly told Israeli Prime Minister Netanyahu that if he goes to war with Iran, he would be fighting alone, according to Axios.
Trump Warns Netanyahu Israel May Fight Iran Alone, Urges Strike Reduction
Former President Trump warned Israeli Prime Minister Netanyahu that Israel could end up fighting Iran without US support, persuading him to scale back planned large-scale strikes. Israel targeted an Iranian petrochemical facility while the US military helped intercept Iranian missiles.
Forex Today: Markets Assess Japanese GDP as ECB Decision Looms
The US Dollar Index trades cautiously near 100.00 as investors balance strong US data against improved risk sentiment after reports that Iran has ended military operations. Focus shifts to the upcoming ECB decision.
Chinese Yuan Appreciation Outweighs Yield Gap – Commerzbank
Commerzbank analyst Thu Lan Nguyen notes that despite the PBoC easing caps on USD deposit rates, the yuan has appreciated roughly 3% against the dollar this year, suggesting the appreciation trend is overriding the yield differential.
US Dollar Index Eases as Iran Halts Military Operations Against Israel
The US Dollar Index (DXY) edged lower on Monday as traders assessed the evolving Middle East situation after Iran halted military operations against Israel.
China's Margin Debt Hits Record $431 Billion, Surpassing 2015 Bubble Peak
China's stock market margin debt has reached a record ~$431 billion, more than doubling over two years and exceeding the 2015 bubble peak by 22%.
Apple Announces Siri AI Beta, Home Intelligence, and Image Generation at WWDC
Apple revealed plans to launch a Siri AI beta later this year, along with Home app intelligence for camera clip analysis and photo-realistic image generation with personal library integration, at its WWDC event.
Eli Lilly's Oral GLP-1 Foundayo Outperforms Oral Semaglutide in Diabetes Trials
Eli Lilly's oral GLP-1 drug Foundayo showed 57.1% greater A1C reduction and 73.6% greater weight loss versus oral semaglutide across three pivotal diabetes trials. FDA submission is targeted by end of Q2.
UOB Sees Further SGD Losses, Targets USD/SGD at 1.2960
UOB analysts Quek Ser Leang and Lee Sue Ann warn that the Singapore dollar could weaken further against the US dollar, targeting 1.2960, after a strong US jobs report pushed USD/SGD above 1.29.
Weekly Data Preview: USOIL and XAUUSD Ahead of Key Economic Releases
A preview of weekly data for USOIL and XAUUSD, with upcoming economic data expected to drive near-term price action.
Strong US NFP Triggers Sharp Cross-Asset Selloff
The May US nonfarm payrolls report released on June 5 sparked the sharpest cross-asset selloff in over a month, with markets reacting to the strong employment data.
Trump Says He Brokered De-Escalation Between Iran and Israel
Former President Trump claims that regional countries urged him to prevent further escalation, and that Iran told the U.S. it would launch no more strikes on Israel. Trump says he called Netanyahu and got him to stand down.
Trump Says He Urged Netanyahu Not to Retaliate Against Iran, But Israel Struck Anyway
Former President Trump claims he advised Israeli PM Netanyahu against striking Iran, but Israel went ahead, informing the US only at the last minute. Trump says he managed to reduce the scope of the attack.