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EU Launches Antitrust Probe Into Sanofi Over Flu Vaccine Claims
The European Union has initiated a formal antitrust investigation into Sanofi for allegedly making misleading claims about its flu vaccine relative to CSL Seqirus' Fluad.
Hormuz Risks Keep Oil Subdued at $73.8 – Rabobank
Rabobank's senior macro strategist warns of rising security threats in the Strait of Hormuz after a cargo ship was hit near Oman, though Brent crude remains around $73.8 at the lower end of its weekly range.
Commerzbank Warns Turkish Lira Volatility on Easing Talk
Commerzbank analyst Tatha Ghose warns that CBRT Governor Karahan is signaling premature monetary easing, potentially increasing lira volatility.
USD Bulls Pause After In-Line PCE Data, Falling Oil Prices
The US dollar rally took a breather as May PCE inflation data met expectations and declining oil prices eased concerns about the inflation outlook, reducing the perceived need for a hawkish Federal Reserve.
Silver Rises to $58.19, Gains 0.56% on Friday
Silver (XAG/USD) traded at $58.19 per troy ounce on Friday, up 0.56% from the previous $57.87, according to FXStreet data.
IRGC Rejects Unauthorized Strait of Hormuz Shipping Corridor, Warns of Enforcement
The IRGC has rejected a newly announced shipping corridor through the Strait of Hormuz, stating it was created without Tehran's coordination and warning of potential enforcement measures against vessels using unauthorized routes.
USDT Surpasses Ethereum in Fully Diluted Valuation
Tether's USDT has overtaken Ethereum in fully diluted valuation, reaching $191.5 billion vs $188.1 billion, according to CoinGecko.
US Notifies Congress of $700M F110 Jet Engine Sale to Turkey
The Trump administration has informed Congress of a proposed sale of F110 jet engines worth over $700 million to Turkey for its KAAN fighter program.
Rabobank Sees Stable Mexican Peso vs USD Through Summer
Rabobank strategists expect Banxico to hold rates at 6.50% through year-end, mirroring the stance on the BoC and Fed, supporting a stable peso outlook.
China's May Services Trade Deficit Widens to $18 Billion
China’s services trade deficit widened to $18 billion in May, bringing the January–May total to $93.1 billion, according to the regulator.
Dollar Index Slips After FOMC as Inflation Data Spurs Reassessment
The US Dollar Index (DXY) declined following the latest FOMC meeting, as US inflation data prompted a market reassessment, according to DBS Group Research strategist Philip Wee.
WTI Oil Drops Below $70, Lowest Since February 27
WTI crude oil fell to $69.65 on Friday, its lowest level since late February, amid expectations of higher Middle East supply and following a joint US-Israel attack.
INR Traded Flat Despite Debt Inflows, Says SocGen
Societe Generale strategists note the Indian Rupee traded broadly flat over the week but outperformed regional peers due to debt portfolio inflows, while broad USD strength overshadowed moves in gold.
Eurozone One-Year Inflation Expectations Cool to 3.5% - ECB Survey
The European Central Bank's latest survey shows Eurozone consumers expect inflation to average 3.5% over the next year, down from prior figures, while longer-term projections remained steady.
US-Iran Understanding Seen Freezing Conflict, Not Resolving Nuclear Issue: Analyst
According to analyst Greg Priddy, the US-Iran understanding is more likely to freeze the conflict than resolve it, leaving the nuclear program as the key unresolved issue.
AUD/USD Remains Under Pressure, Consolidation Expected – UOB
UOB analysts note that AUD/USD remains under pressure after an impulsive decline, but oversold conditions may lead to near-term consolidation around the 0.6880 level.
GBP/USD Struggles at 1.3200 Amid Bearish Setup
The GBP/USD pair maintains a slight positive bias for a second day but fails to build momentum above 1.3200, with the overall technical outlook remaining bearish.
US Dollar Strength Extends as Growth Holds – Commerzbank
Commerzbank analyst Volkmar Baur notes that despite easing oil prices and lower inflation expectations, the market still prices in at least one more Fed rate hike by year-end, while the ECB is expected to deliver only one further move.
AUD/USD Forecast: 20-Day EMA Points to More Losses
AUD/USD drops 0.25% to near 0.6890 as expectations of a rate cut by the RBA weigh on the Australian Dollar. The bearish 20-day EMA suggests further downside.
Tech Selloff Spreads to Asia as Risk Sentiment Weakens – DB
Deutsche Bank strategists note that technology weakness extended from the Magnificent 7 and Apple into Asian markets, weighing on risk sentiment and US equities despite resilience in chip stocks.
Silver (XAG/USD) Edges Up, Nears $58 as Dollar Eases
Silver has rebounded from seven-month lows below $56.00 to trade near $57.80 as the US Dollar takes a breather.
HSBC Raises Micron Price Target to $170 on AI Memory Demand
HSBC has increased its price target for Micron Technology to $170 from $110, citing strong AI-driven memory demand.
GBP/USD Set for Worst Monthly Performance in a Year
The GBP/USD pair is on track to close June with its worst monthly performance since July last year, trading near 1.3182. Sterling has lost about 2.2% since the start of the month, hitting its lowest level since November.
GBP/USD fails to test key support, holds range – UOB
UOB analysts note GBP/USD failed to test the major support at 1.3110, rebounding from 1.3152 to 1.3218 before closing in a range-bound pattern.