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PBOC Sets USD/CNY Reference Rate at 6.8130
The People's Bank of China set the USD/CNY central parity rate at 6.8130 on Thursday, slightly higher than the previous day's fix of 6.8096.
WTI Holds Gains Above $75.00 Despite Easing Supply Concerns
West Texas Intermediate crude oil edged higher to around $75.10 per barrel during Asian hours on Thursday, breaking a five-day losing streak. The uptick came despite reduced geopolitical risk and lingering Fed rate hike expectations for 2026.
Three Largest S&P 500 ETFs Hit Record $2.6 Trillion in Combined AUM
The three largest S&P 500 ETFs—VOO, IVV, and SPY—now hold a combined $2.6 trillion in assets, with VOO becoming the first ETF to surpass $1 trillion. Their assets have tripled since the 2022 bear market.
HSBC Australia Faces A$35 Million Penalty Over Scam Protection Failures
Australia's corporate regulator ASIC is seeking a A$35 million penalty after HSBC Australia admitted to serious failures in protecting customers from scams. The bank has launched a large-scale compensation and remediation program.
Euro rebounds above 1.1500 as US-Iran deal boosts risk sentiment
The EUR/USD pair recovers to near 1.1515 during early Asian trading on Thursday, supported by improved risk sentiment following the US-Iran peace agreement and the Federal Reserve's decision to hold rates steady.
Asia-Pacific Markets Mixed, US Futures Recover After Hawkish Fed
Asia-Pacific equities opened mixed with a positive bias, while U.S. stock futures recouped some losses from the hawkish FOMC outcome, buoyed by the U.S.-Iran memorandum of understanding.
Japan Weekly Security Flows: Foreign Bond Buying Improves
Japan's weekly security flows data shows increased buying of foreign bonds and reduced selling of foreign stocks, while foreign buying of Japanese bonds improved but selling of Japanese stocks intensified.
China EV Charging Volumes Hit Record in April, Up 69% YoY
China's public EV charging volumes surged to a record ~10.5 billion kWh in April, up 69% year-on-year, as rising gasoline and diesel prices accelerate the transition.
Fed Shifts to Hawkish Stance at First Meeting Under Warsh
The Federal Reserve took a more hawkish tone at its first meeting chaired by Kevin Warsh while keeping rates unchanged. Operational adjustments are expected in the coming months.
Fed Holds Rates, Streamlines Statement to Three Key Points
The Federal Reserve kept policy unchanged and issued an aggressively shortened statement emphasizing three core messages: rate hold, commitment to ample reserves, and forward guidance shift under Kevin Warsh's influence.
Trump, Iran Sign MoU to End US-Israel War on Iran
President Donald Trump and Iran's Masoud Pezeshkian signed a memorandum of understanding to end the US-Israel war on Iran, according to a BBC report citing the White House.
Gold Plunges Toward $4,250 After Fed Hints at Future Rate Hike
Gold (XAU/USD) slumped to near $4,250 in early Asian trading as the Federal Reserve held rates steady but signaled a potential hike later this year, boosting the dollar and pressuring the precious metal.
Long-Term Inflationary Cycle Still in Early Stages, Historical Parallel Suggests
Drawing parallels to the inflationary era of the 1960s and 1970s, the post suggests the current secular inflationary cycle may still be in its early phases.
NZ Q1 GDP Misses Expectations at 0.8% QoQ
New Zealand's economy expanded 0.8% quarter-on-quarter in Q1 2026, falling short of the 1.0% consensus estimate. The prior quarter was revised up to 0.5% from 0.2%.
US Confirms Iran MOU Signed Digitally by Vance, Qalibaf
A US official confirmed that a memorandum of understanding between the US and Iran was signed digitally on Sunday by Vice President JD Vance and Iranian Parliament Speaker Mohammad Bagher Qalibaf, witnessed by President Donald Trump. Trump and Iranian President Pezeshkian subsequently signed the document on Wednesday.
US and Iran Sign Deal to End Conflict, Reopen Strait of Hormuz
The US and Iran have signed an agreement to end their conflict and reopen the Strait of Hormuz. The deal was finalized via a remote signing by Trump and Iranian leadership, with delegations scheduled to meet in Switzerland on Friday for nuclear talks.
US Commits to Removing Obstacles to Iran's Frozen Funds, 60-Day Period Begins
Iran's Foreign Ministry confirms US commitment to unfreezing funds, with a 60-day period starting today, while blaming Israeli attacks on Lebanon as a breach of commitments.
US Housing Starts Plunge 15.4% in May to Lowest Since May 2020
US housing starts fell 15.4% month-over-month in May to an annualized rate of 1.18 million units, the lowest since May 2020. April's figure was revised down by 73,000 units. Multifamily starts dropped 40.2%, while single-family starts declined 1.9%.
Yen Weakens as Fed Holds Rates, Signals One Hike by Year-End
The Japanese Yen fell against the US Dollar after the Federal Reserve held rates steady but indicated a possible rate hike before year-end. Fed Chair Warsh reiterated the central bank's commitment to the 2% inflation target.
South Korea Q1 GDP Revised Up to 1.8% QoQ, Fastest Since Q3 2020
The Bank of Korea revised Q1 2026 GDP growth to +1.8% QoQ, the largest quarterly expansion since Q3 2020, led by facilities investment and semiconductor exports tied to global AI infrastructure.
Pound Falls as Soft UK CPI and Hawkish Fed Decision Weigh
The British pound faced pressure from two fronts: weaker-than-expected UK inflation data and a hawkish first Federal Reserve decision under Kevin Warsh.
Australian Dollar Weakens on Hawkish Fed Decision
The Australian dollar fell as the Federal Reserve delivered a hawkish policy decision under Kevin Warsh, with no supportive domestic data to cushion the blow.
Iran: Hormuz Strait Will Not Return to Pre-War Conditions, Service Charges to Be Imposed
Iran's parliamentary speaker Qalibaf stated that the Strait of Hormuz will not revert to its pre-war state and that Iran will levy charges for services provided, while asserting that this does not contravene international law or navigation rules.
Iran Claims Sovereign Rights in Strait of Hormuz, Will Charge Fees
Iranian official Qalibaf stated that actions by adversaries have transformed Iran's potential in the Strait of Hormuz into reality, asserting sovereignty and announcing fees for passage services.