Market news
Crypto, stocks, forex and macro, aggregated for traders.
Trump Signs Executive Orders to Accelerate Quantum Computing Development
President Trump has signed two executive orders to boost quantum computing development, including a goal to deploy a quantum computer capable of scientific research by 2028. The orders also address preparation for encryption-breaking quantum systems, coinciding with billions in Commerce Department funding for quantum firms.
Fed's Goolsbee Warns Inflation Moving Further Above Target
Chicago Fed President Austan Goolsbee struck a cautious tone on inflation, warning it is moving further above target and more evidence is needed before declaring price pressures temporary. He supports less forward guidance on rates and warns against excessive speculation.
Euro Falls 0.37% Against USD on Iran Optimism and Lagarde Remarks
The euro declined 0.37% against the US dollar on Monday as positive news on US-Iran talks boosted the greenback, while ECB President Lagarde's comments tempered hawkish expectations on inflation.
Pound Sterling Braces for Heavy Week as Westminster Empties Out
GBPUSD nears fresh seven-month lows ahead of a likely thin trading week as UK political activity winds down. A tentative bounce has done little to change the broader bearish tone.
NZDUSD Slides for Fourth Day, Pressures 0.5700
The New Zealand Dollar weakened for a fourth straight session, approaching the 0.5700 level amid a stronger US dollar and deteriorating risk appetite tied to rising Iran tensions.
NZD/USD Sinks to Two-Month Low Near 0.5720 as USD Strengthens
The New Zealand Dollar fell to a two-month low against the US Dollar on Monday, pressured by a firmer greenback and cautious market sentiment.
Ukraine and Japan to Launch Joint Reconstruction Fund with Hitachi and Toshiba Support
Ukraine and Japan are set to announce a joint reconstruction fund backed by Hitachi, Toshiba, and Japanese institutions, with details expected at this week's Ukraine Recovery Conference.
Israel Vows to Continue Operations in Southern Lebanon to Neutralize Threats
Israel will maintain military operations in southern Lebanon to neutralize threats and dismantle terror infrastructure, according to a joint statement from top officials.
Trump and Iran at Odds Over Terms of Signed 60-Day Framework
A week after signing a 60-day framework aimed at winding down hostilities and reopening the Strait of Hormuz, the U.S. and Iran cannot agree on the document's actual terms.
Fed's Goolsbee: Inflation Well Above Target, Moving Wrong Direction
Chicago Fed President Austan Goolsbee defended his dissent, stating inflation remains well above the central bank's target and moving in the wrong direction. He also noted a stable labor market but expressed concern over services inflation, calling for more evidence that price pressures are temporary.
US Dollar Surges Near Recent Highs Ahead of PCE Inflation Data
The US Dollar traded near the 101.00 level on Monday, close to a 13-month high, as investors weigh softer oil prices, US-Iran peace hopes, and expectations of a hawkish Fed ahead of PCE inflation data.
Taiwan and South Korea Equity Inflows Hit Unprecedented Levels
Equity fund inflows into Taiwan have surged to 155% of assets under management since January 2024, the highest globally, with South Korea at 150%. Both markets are running at least 500% above others, and South Korea leads year-to-date at 45% of AUM.
Iran central bank says frozen assets can fund non-sanctioned goods
Iran's central bank governor stated that remaining frozen assets are not limited to essential goods and can be used to purchase other non-sanctioned items, according to Tasnim.
Pfizer’s Sigvotatug Vedotin Misses Survival Goal in NSCLC Trial
Pfizer’s Phase 3 trial for sigvotatug vedotin in previously treated metastatic non-small cell lung cancer failed to meet its overall survival endpoint compared to docetaxel, though the drug showed favorable safety and suggested stronger benefit in second-line patients.
Bitcoin Drawdown at 49% Less Severe Than Previous Cycles – Galaxy Research
Bitcoin is currently down about 49% from its cycle high, a drawdown significantly milder than the 70%–90% crashes observed in prior market cycles, according to Galaxy Research.
Swiss Franc Declines Against Dollar and Euro on Improved Risk Appetite
The Swiss Franc weakened against the US Dollar and the Euro on Monday as risk appetite improved following the start of US-Iran talks, which were viewed positively by the US Vice President.
CFTC: Speculators Boost Bearish Bets on U.S. Treasuries
Speculators increased net short positions across most U.S. Treasury futures in the week ended June 16, with only long-bond shorts easing slightly, according to CFTC data.
CFTC: Yen Heavily Short at 150K Contracts; Euro Net Long, Bitcoin Net Long
CFTC positioning data for the week ended June 16 shows the yen heavily short at 150,132 contracts, the euro net long at 34,353, and the pound and Swiss franc net short. Bitcoin net long stands at 3,475 contracts.
Malaysian Ringgit Pressured Against US Dollar on Hawkish Fed Repricing
The Malaysian Ringgit has softened despite supportive domestic data, as a hawkish repricing by the Federal Reserve keeps US Treasury yields and the US Dollar firm. OCBC strategists note that softer oil provides only a limited buffer.
US Dollar Index Rises, Holds Support Near 101.00
The US Dollar Index (DXY) advanced on Monday, trading near 101.00 and gaining 0.26% as the greenback remains supported.
Wind Turbine Technician Jobs to Grow 49.9% by 2034, BLS Says
The US Bureau of Labor Statistics projects wind turbine service technicians will be the fastest-growing occupation from 2024 to 2034, with 49.9% growth. Solar installers and nurse practitioners also see strong gains, while customer service roles decline.
Oil Prices Retreat as Geopolitical Premium Fades, Oversupply Fears Mount
Crude oil prices continue to decline as the market shifts focus from Middle East conflict risks to global oversupply concerns. Progress in US-Iran talks and weak demand from China are adding to bearish sentiment.
Oil Slides as Supply Glut Fears Replace Middle East War Premium
Crude oil prices are retreating to pre-war range as markets shift focus from Middle East disruption risks to oversupply concerns, driven by improving US-Iran talks and rising Hormuz traffic.
Mexican Peso Slides as Hawkish Fed Boosts USD Ahead of Banxico Meeting
The Mexican Peso weakened 0.34% on Monday as the US Dollar strengthened on renewed Federal Reserve hawkishness. USD/MXN traded at 17.35 after bouncing from daily lows.