Market news
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USD/JPY Holds Above 161.50, Eyes Multi-Decade High Despite Intervention Fears
USD/JPY enters a bullish consolidation phase, trading just above 161.50, with traders eyeing multi-decade highs even as intervention fears persist.
India's HSBC Manufacturing PMI Slips to 54.5 in June
India's HSBC Manufacturing PMI eased to 54.5 in June from 55.0 in May, according to the latest data from S&P Global and HSBC Bank.
Indonesian Rupiah Declines as MSCI Downgrade Risks Loom
USD/IDR extends gains for a second consecutive day, trading near 17,900, as MSCI downgrade risks and severe economic headwinds pressure Southeast Asia's largest economy.
Strait of Hormuz Uncertainty Disrupts Global Shipping Operations
Conflicting guidance from Iran, the US, and western insurers over transit through the Strait of Hormuz is creating operational challenges for tanker and commercial shipping firms.
Asian Stocks Slide on Iran Tensions; KOSPI Drops 6%
Asian equity markets fell on Tuesday amid escalating Iran risks, with South Korea's KOSPI tumbling 6%. The decline followed a sharp drop in US technology stocks as investors took profits from the AI-driven rally.
Tesla's EU Market Share Rises to 2.5% in May, BYD at 2.8%
In May, Tesla's market share in the EU, Britain, and EFTA rose to 2.5%, while BYD held 2.8%. The BEV segment accounted for 10.66% of the market, according to the European Automobile Manufacturers Association (ACEA).
AUD/JPY Steadies Below 113.00 as Intervention Fears Loom
The AUD/JPY cross trades around 112.75 during early European hours, with the yen strengthening on intervention concerns. The bias remains mildly bullish despite the losses.
EUR/USD Seen Falling to 1.13-1.12 if Dollar Index Breaks 101.50
The dollar index, holding above 101, may push EUR/USD lower to the 1.13–1.12 range if it clears 101.50, otherwise a reversal is possible.
Silver (XAG/USD) Falls Near $63.00 as Bearish Bias Persists
XAG/USD declined over 3% during Asian hours, trading around $63.20 after a brief gain, maintaining a bearish outlook.
Gold Weakens Below $4,150 on Iran Uncertainty and Fed Hike Bets
Gold (XAU/USD) slipped below $4,150 during Asian trading on Tuesday, reversing previous gains as a bullish US dollar and concerns over Iran tensions and Federal Reserve rate hike expectations weighed on the precious metal.
BAC Hits New All-Time High Above $57.55, Elliott Wave Supports Upside
Bank of America shares surpassed the January 2026 peak at $57.55, confirming a bullish Elliott Wave sequence and signaling further upside potential.
Swiss Franc Holds Losses Below 0.8100 as Firm Fed Rate Hike Bets Weigh
The Swiss Franc remains under pressure near 0.8088 against the US Dollar during Asian trading, as strong expectations for further Fed rate hikes support the greenback.
AUD/USD Extends Losses for Sixth Day Despite Better Aussie PMI
The Australian dollar weakened for a sixth straight session, trading near 0.6980, even as preliminary S&P Global PMI data for Australia came in stronger than expected.
Chinese Chip Exports Surge 111% YoY in May to Record $36B on AI Demand
China's semiconductor exports surged 111% year-on-year in May to a record $36 billion, driven by AI infrastructure spending and global shortages. Computer exports also jumped 66% to $27 billion, together accounting for roughly half of China's trade growth.
US Dollar Index Holds Near 13-Month Highs Around 101.00
The US Dollar Index (DXY) remains steady near 101.00, close to 13-month highs, during Asian trading hours after modest gains the previous day.
NZD/USD Extends Slide Near 0.5700 on Hawkish Fed
The NZD/USD pair fell for a fifth straight session, trading around 0.5705 during Asian hours Tuesday, pressured by a stronger US dollar following hawkish Federal Reserve comments.
Elon Musk Calls for Arrest of Ro Khanna After DOJ Bribery Case
Elon Musk called for the arrest of Representative Ro Khanna following a Department of Justice announcement that a USAID official and several business executives pleaded guilty in a bribery scheme involving over $550 million in government contracts.
Japan's Kihara Warns of Possible FX Intervention
Japan's Chief Cabinet Secretary Minoru Kihara stated that authorities will take appropriate action against foreign exchange moves if needed, signaling potential intervention.
USD/CAD Stays Near Multi-Month High on Bearish Oil, BoC-Fed Divergence
The USD/CAD pair edges higher in Asian trading, supported by falling oil prices and diverging monetary policy expectations between the Bank of Canada and the Federal Reserve.
White House Sees Momentum Toward Iran Deal as Trump Pressure Shows Results
Press Secretary Karoline Leavitt stated that President Trump would not agree to any deal that fails to protect U.S. national security, noting growing momentum toward an agreement with Iran.
US Moves to Keep Early-Stage Drug Research Domestically as Pharma Shifts Trials Abroad
U.S. officials are taking new steps to encourage pharmaceutical companies to conduct early-stage research and clinical studies domestically, as drugmakers increasingly move trials to China and Australia for faster and cheaper execution.
Silver dips to $64.50 as hawkish Fed pressures prices
Silver (XAG/USD) fell over 1% on Tuesday, trading near $64.50, as a hawkish Federal Reserve outlook weighed on the non-yielding metal.
AI Boom Drives Extreme Concentration in Asia Markets as Chip Giants Dominate
Samsung Electronics and SK Hynix together account for roughly 55% of South Korea's Kospi index, while Taiwan Semiconductor Manufacturing Company alone represents about 42% of Taiwan's Taiex index, highlighting growing concentration risk.
US Debt Interest Costs Hit Record $723 Billion in First 8 Months of FY2026
Federal net interest payments rose 9% YoY to $723 billion, making interest costs the second-largest federal spending category after Social Security. The CBO projects $16.2 trillion in net interest costs over the next decade.