Market news
Crypto, stocks, forex and macro, aggregated for traders.
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.
AUD/JPY Consolidates Near Multi-Year Low on Intervention Fears
AUD/JPY trades sideways near levels last seen in September 1990, with yen weakness supporting the cross while intervention risks cap further upside.
Ethereum Undervalued, Says SharpLink CIO
SharpLink CIO Matthew Sheffield argues Ethereum is significantly undervalued, suggesting traditional valuation frameworks miss the bigger picture. He explains his view in a recent interview.
Canadian Dollar Slides to 14-Month Lows Despite Hot Inflation, Oil Rebound
The Canadian dollar hit fresh 14-month lows as trade war concerns overshadowed a strong inflation print and a rebound in crude oil prices.
GBP/JPY Holds Near 214.00 Amid UK Political Turmoil
The pound-yen pair settled near 214.00 on Monday, supported by its rising 50-day moving average, despite the UK losing its prime minister.
Europe's LNG Dependence on US Hits Near-Record ~60% of Imports
The US now supplies roughly 60% of Europe's LNG imports, near an all-time high, as the bloc's energy security increasingly ties to American gas.
USD/SGD Bid as Firmer USD, MAS Tightening Eyed – OCBC
OCBC strategists note USD/SGD trades with a bid tone amid a firmer US dollar backdrop, with resistance near 1.2940. Support levels were not fully disclosed.
SpaceX Stock Drops 10% in Largest Sell-Off Since Debut
SpaceX (SPCX) shares plunged 10% on Monday, marking the stock's third consecutive decline after three straight sessions of gains following its public listing.
Gold Edges Higher on Iran Talks Optimism, Weaker Oil
Gold (XAU/USD) rose 0.50% on Monday as positive US-Iran talks drove oil prices lower, reducing inflation expectations. The pair bounced from daily lows to trade near $4,179.
NZD/USD Extends Slide to Four-Day Low as Dollar Strengthens
The New Zealand dollar fell for the fourth consecutive day on Monday, hitting its lowest since April 8, driven by broad US dollar strength from a hawkish Fed and fragile US-Iran truce uncertainty.
Malaysia May Inflation Rises to 2.0% YoY, Highest Since July 2024 – UOB
UOB economists note Malaysia's May headline inflation rose to 2.0% year-on-year, the highest since July 2024, driven by Food, Housing, Utilities and Transport. Year-to-date inflation of 1.7% supports their full-year 2.0% forecast.
Crypto Digest: Bitcoin ETF Outflows, Taiko Hack, Stablecoin Depeg
Bitcoin ETFs saw a record streak of outflows, the L2 network Taiko was hacked, and stablecoin MSUSD lost its dollar peg. Other stories include Toss Bank partnering with Solana, Polymarket paying for staged betting videos, and a proposal to redirect validator rewards to Ethereum development.
US Treasuries Post Worst Real Returns Since 1980s, Structural Bear Market
Over the past decade, US Treasuries have delivered an average annual inflation-adjusted return of -3%, the worst since the 1980s, while the S&P 500 returned +12%. The gap between stocks and bonds is the widest since the 1960s.
AUD/USD Stalls Near 0.7300, Awaits Catalyst
The Australian dollar's uptrend from late March has lost momentum near the 0.7300 resistance, with traders now watching for a fresh catalyst to resume the rally.
Pre-Weekend Derisking Triggers Selling in Key Sectors, Not Peace Deal Fears
Stock bulls showed no fear of the long weekend, but selling hit key sectors before the close. The move is attributed to derisking rather than expectations that a peace memorandum could collapse.
Oil Prices Slide on Renewed Peace Talks Optimism
Oil prices fell sharply on Monday as optimism about peace talks between Russia and Ukraine dampened supply concerns, reversing earlier gains from a gap higher at the weekly open.
MUFG: Asian Currencies Set to Gain on Growth Gap, AI Exports
MUFG analyst Michael Wan says stronger regional growth differentials versus the US should support Asian currencies, especially in AI-linked export economies like South Korea, Taiwan, and Malaysia.
AUD/USD Falls Near 0.7000 Ahead of US PCE Data
The Australian dollar slipped against the US dollar, approaching the 0.7000 level, as traders adopt a cautious stance ahead of the release of the US PCE inflation report.
EUR/USD Hovers Near Three-Month Lows Amid Hawkish Fed, Mideast Talks
EUR/USD remains under pressure near three-month lows as expectations of a hawkish Federal Reserve boost the US Dollar, while progress in US-Iran talks reduces safe-haven demand but does not offset USD strength.
Dow Jones Rises 0.3% in Misleading Rally
The Dow Jones Industrial Average gained 167 points on Monday, but the advance is considered deceptive as market conditions remain broadly bearish.
Q2 Crypto Hacks Hit Record 83 Incidents, Losses Exceed $755 Million
The second quarter saw a record 83 crypto protocol hacks, with total losses of $755.3 million. The largest attacks targeted KelpDAO and Drift Protocol, while cross-chain bridge incidents accounted for $351 million.
Iran’s Top Negotiator Travels to Oman to Discuss Strait of Hormuz Cooperation
Iran's chief negotiator will visit Oman for talks on bilateral cooperation and managing arrangements in the Strait of Hormuz, according to Foreign Minister Araghchi.
SOX Semiconductor Index Posts Historic Volatility, Up 175% in Year
The Philadelphia Semiconductor Index (SOX) has seen nine single-day gains of 5% or more in the last 60 trading days—a level last seen in January 2009. The index is up 175% over the past 12 months and trading at all-time highs.