Market news
Crypto, stocks, forex and macro, aggregated for traders.
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.
OCBC: Brent's Hormuz Risk Premium Remains Fragile After Sharp Drop
OCBC FX strategists warn that Brent's recent sharp decline on optimism over a US-Iran deal and Strait of Hormuz reopening may be overdone, as the security risk premium remains fragile and possibly underpriced.
NZD/USD Steadies After US Inflation Data, RBNZ Expectations Cap Gains
The New Zealand Dollar trades around 0.5650 after US inflation data, with expectations of a dovish RBNZ limiting further upside despite a weaker US dollar.
USD/CHF Slides as US Dollar Weakens After PCE Data
The Swiss Franc strengthened against the US Dollar on Friday, with USD/CHF erasing weekly gains after US PCE inflation data met expectations, dampening the dollar's recent rally.
US Indices Open Lower: Dow, Nasdaq, S&P 500 Decline
At market open, the Dow Jones fell 216 points (-0.42%), the Nasdaq dropped 276 points (-1.09%), and the S&P 500 lost 49 points (-0.67%).
Bitcoin Weakens Near $59K as Accumulation Stalls for 7 Months
Bitcoin struggles to hold $59,000 as on-chain data shows demand has been negative for 208 consecutive days. Analysts warn of a potential 15-30% correction based on RSI oversold patterns.
TD Securities Warns of More Gold Pain Before Recovery
Gold slid below $4,000/oz amid higher US rates and a stronger dollar. TD Securities' Bart Melek sees further downside before a rebound.
CNB Hawkish Stance Supports Koruna Against Dollar Pressure, Says ING
ING FX strategist Frantisek Taborsky notes the Czech National Bank's June minutes confirm it as the most hawkish central bank in the region after a 25bp hike to 3.75%, supporting the koruna against USD pressure.
Many Tech Stocks Are in Bear Market Territory, Down Up to 69% from Highs
A list of major tech stocks shows declines ranging from 12% to 69% from their record highs, indicating that several are deep in bear market territory, even as the S&P 500 remains relatively resilient.
US Dollar Momentum Softens as US Data Cools – MUFG
MUFG analyst Lee Hardman notes the US Dollar is set for a second straight week of gains but has lost upward momentum as softer GDP and PCE data, along with dovish comments from New York Fed President Williams, reverse recent hawkish sentiment.
Oil Price Declines May Be Temporary Amid Supply Risks: Commerzbank
Commerzbank commodities analysts, led by Barbara Lambrecht, warn that recent oil price drops could be short-lived as tanker traffic through the Strait of Hormuz recovers only gradually and U.S. crude inventories remain well below seasonal norms.
Silver RSI Stays Oversold as XAG/USD Struggles Below $60
Silver steadies on Friday as the US Dollar and Treasury yields retreat after the latest PCE data showed underlying inflation remained relatively subdued, but the RSI remains in oversold territory with XAG/USD below $60.
Gold Stabilising but Not Confirmed Reversal – OCBC
OCBC FX strategists note gold is tentatively stabilising after a sharp selloff, with prices back above $4,000 and dip-buying emerging amid lower Dollar and real yield pressures.
US-Iran Deal and Tech Sell-Off Drive Oil Lower
A weekly focus highlights the reversal of stagflationary winds as a US-Iran deal pushes Brent oil down to $73 from a high of $120, alongside a tech sell-off in equity markets.
Germany Finalizes 2027 Budget, Closes €21B Gap
Germany has finalized its 2027 federal budget, fully closing an initial gap of €21 billion, but will draw on a substantial portion of €9.7 billion in reserves.
Polymarket suffers attack, over 10 wallets affected, $3M in losses; promises full reimbursement
Prediction market platform Polymarket was hacked, with more than 10 user wallets compromised and losses estimated at $3 million. The project has vowed to fully compensate victims, blaming a third-party contractor for the breach.
RBA: Gradual cooling supports steady policy – UOB
UOB's Lee Sue Ann notes that Australia's May labour data shows a rebound in headline employment but softer underlying conditions, with rising underemployment and falling hours, supporting the RBA's steady policy stance.