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Trump Threatens 100% Tariff on European Countries Over Digital Services Tax
President Donald Trump warned European nations considering a Digital Services Tax on US companies that any such move would be met with a 100% tariff on all goods exported to the United States, overriding existing trade deals.
Trump: Iran Launched Drones at Ships in Strait of Hormuz, Violating Ceasefire
President Trump said Iran launched four one-way attack drones at vessels in the Strait of Hormuz, with one hitting a cargo ship and U.S. forces intercepting the other three, calling it a ceasefire violation.
WTI Oil Falls 3.25% on Middle East Export Recovery
West Texas Intermediate crude dropped more than 3% on Friday, touching a low not seen since late February, as easing Middle East supply risks weighed on prices.
Trump Says Iran Broke Ceasefire with Hormuz Drone Strike
President Trump claimed on Truth Social that Iran violated a ceasefire by launching a drone strike on a cargo ship in the Strait of Hormuz.
Euro Holds Ground Against Dollar Amid Middle East Tensions and Fed Outlook
EUR/USD is trading slightly higher on Friday but is still on track for a second consecutive weekly loss as geopolitical risks in the Middle East and a hawkish Federal Reserve support the US dollar.
Singapore MAS Flags Hyperliquid as Unlicensed Entity
The Monetary Authority of Singapore added the Hyperliquid website to a list of services that could be mistakenly perceived as licensed. Hyperliquid clarified it is a public infrastructure and has never claimed MAS authorization.
British Pound Rebounds as US Dollar Rally Fades, UK Politics Stabilize
The GBP strengthened 0.20% against the USD as the greenback pulled back from year-to-date highs, with markets pricing in a less hawkish Fed and UK political conditions improving.
Trump Accuses Iran of Violating Ceasefire After Drone Attack on Ships
President Trump condemned Iran for launching at least four one-way attack drones at ships in the Strait of Hormuz, calling it a 'foolish violation' of the US-Iran ceasefire agreement.
AUD/USD Recovers Near 0.6900 on US Dollar Profit-Taking
The Australian Dollar is recovering ground against the US Dollar on Friday, with AUD/USD trading near the 0.6900 level as profit-taking hits the Greenback after a two-week rally.
Standard Chartered: China Fiscal Spending to Rebound
Standard Chartered economists predict China's fiscal spending will rebound after underperforming in early 2026, which had weighed on growth despite a stronger-than-expected first quarter.
Iran Attacks Ships in Strait of Hormuz, Trump Says
President Trump stated on Truth Social that Iran launched at least four one-way attack drones at ships transiting the Strait of Hormuz, hitting a cargo vessel. He called the action a violation of the ceasefire agreement.
Kashkari: Inflation Concerns Persist, Labor Market Shows Signs of Life
Minneapolis Fed President Neel Kashkari expressed concern over inflation, especially in services, while noting some positive signs in the labor market. He also commented on the FOMC statement reset and the move to no forward guidance.
Australia Unemployment Dips to 4.4% but UOB Warns of Emerging Slack
Australia's unemployment rate fell to 4.4% in May, with employment surging by 40,300, driven mainly by part-time jobs. UOB's Lee Sue Ann cautions that rising participation masks growing slack in the labor market.
Food and Services Signal Steady Inflation in June Tokyo CPI
Societe Generale economists note that June Tokyo CPI data showed little change from May, with food and services indicating steady inflation, despite a modest upside surprise in headline and core figures.
Trump Administration Asks OpenAI to Limit GPT-5.6 Release Over Safety Fears
The Trump administration has requested that OpenAI not release GPT-5.6 widely due to safety concerns, with the model initially only available to a limited number of clients.
Retail Investors Flood Chip ETFs with $22.5B Year-to-Date
Retail investors have purchased a record $22.5 billion in US-listed semiconductor ETFs year-to-date, with monthly purchases reaching $12 billion in the past month, the highest on record. Options spending on chip stocks also hit new highs.
British Pound Steadies Against Yen Amid UK Politics and Intervention Risks
GBP/JPY traded in a narrow range on Friday as traders weighed UK political developments against the risk of Japanese intervention, with USD/JPY holding above 160.00.
South Korea Retail Support & FX Divergence in 2026 – BNY
BNY's Geoff Yu notes South Korean equities posted exceptional returns in 2026, with retail investors providing support while institutions remain net sellers, highlighting FX divergence.
Yen Strengthens on BoJ Hike Expectations, Intervention Risks Weigh on USD/JPY
The Japanese yen strengthened on Friday as expectations of a Bank of Japan rate hike and heightened intervention risks pushed USD/JPY lower. The pair traded around 161.60 after failing to sustain above 162.00.
Gold Sell-off Intensifies, $4,000 Handle at Risk
Gold (XAU/USD) initially edged higher before reversing sharply to its lowest level since November, falling below $4,000. The metal found some support but failed to stage a meaningful rebound, closing the week deep in negative territory.
ECB Likely to Raise Rates Once More Before Cutting, Says Commerzbank
Commerzbank strategists expect the European Central Bank to deliver at least one more rate increase amid still-elevated inflation, despite lower oil and gas prices.
Gold Weekly Forecast: Sell-off Intensifies, $4,000 at Risk
Gold (XAU/USD) edged higher early in the week before turning sharply lower, falling below $4,000 to its lowest level since November. Although it found a foothold, the metal ended the week deep in negative territory, with the sell-off intensifying and putting the $4,000 handle at risk.
TD Securities Warns Brent Oversold Amid Hormuz Strait Disruptions
TD Securities analyst Bart Melek notes that disruptions in the Strait of Hormuz have pushed oil inventories to historic lows, leaving Brent crude oversold and vulnerable to a sharp short-covering rally.
Commerzbank: Falling Oil Prices to Reduce Inflation, Make Fed Rate Hikes Unlikely
Commerzbank strategist Bernd Weidensteiner says that declining oil and gasoline prices should bring down U.S. inflation and reduce the likelihood of further Federal Reserve rate increases.