Market news
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NZD/USD Holds Losses Near 0.5650 Amid Bearish Bias
The New Zealand Dollar continues its losing streak against the US Dollar, trading around 0.5650 during Asian hours. Technical indicators point to a persistent bearish trend within a descending channel.
Iran Strikes Ship Near Strait of Hormuz; UN Pauses Escort
Iran reportedly attacked a cargo ship near Oman, prompting the UN to pause its Strait of Hormuz escort operation and raising doubts over a preliminary US-Iran agreement.
Liquidity Squeeze Intensifies as Equities, Gold, BTC, and Mag7 Decline
A liquidity squeeze continues to pressure global markets, with price declines in equities, gold, Bitcoin, and the Magnificent Seven stocks amplifying the circular liquidity crunch.
WTI Drops Below $70.50 on Middle East Supply Surge
West Texas Intermediate crude oil fell below $70.50 per barrel during Asian trading, reversing prior gains amid news of increased supply from the Middle East.
Australian Dollar Hits Fresh Lows Since April Against USD Amid Risk-Off
The Australian dollar weakened to its lowest level since early April against the US dollar during the Asian session, driven by broad risk-aversion in global markets.
EUR/JPY slips below 184.00 on bearish bias, trades near 183.90
EUR/JPY edged lower during Asian trading, slipping below the 184.00 level as bearish near-term pressure persists, with the pair hovering around 183.90.
Gold Bearish Cycle Targets $3400 – Elliott Wave Analysis
Elliott Wave analysis suggests gold's corrective phase could drive prices down to $3040–$3400 after a record high in January 2026.
AUD/JPY Extends Bearish Spell Below 111.50
The AUD/JPY cross trades in negative territory around 111.25 during early European trading, maintaining a downside bias below the 111.50 level.
Indonesian Rupiah Weakens as USD Gains on Fed Rate Hike Bets
USD/IDR holds gains near 18,000 after a bullish gap opening, as the US Dollar finds support from rising expectations of a Federal Reserve rate hike.
EUR/USD Holds Above Mid-1.1300s Amid Hormuz Risks, Bearish Setup
EUR/USD is trading in a narrow range during the Asian session Friday, holding above mid-1.1300s after Thursday's drop to the lowest since May 2025. The bearish setup persists despite Hormuz-related risks.
Gold Price Forecast: Death Cross Looms, XAU/USD Eyes $3,950 Support
Gold (XAU/USD) falls back near $4,000 on Friday, ending a brief rebound, as traders eye a potential death cross and key support at $3,950.
Gold Weakens Below $4,000 as Fed Hike Bets and Hormuz Risks Boost USD
Gold (XAU/USD) fell back below $4,000 during Asian trading on Friday as renewed US Dollar strength, driven by expectations of Federal Reserve rate hikes and geopolitical risks in the Hormuz Strait, weighed on the precious metal.
France Heatwave Triggers Panic Buying of Fans and Air Conditioners
Shoppers in France are scrambling to buy fans and air conditioners amid an intense heatwave, with reports of fights breaking out in some stores. The surge in demand is expected to boost near-term sales of cooling appliances and increase electricity consumption.
US Court Orders DOJ to Release Unredacted Epstein Files or Justify Withholding
A US court has directed the Department of Justice to either release unredacted files related to Jeffrey Epstein or explain why they cannot be disclosed, increasing legal and political scrutiny over the case.
Swiss Franc Slides as Fed Hike Expectations Boost US Dollar
USD/CHF gained nearly 0.30% during Asian hours on Friday, trading around 0.8100, as the US Dollar strengthened on growing Federal Reserve rate hike bets.
Asian Markets Tumble as Apple Price Hike Stirs Inflation Fears; KOSPI Drops Over 8%
Asian equity markets slumped on Friday, with South Korea's KOSPI falling over 8%, after Apple's price increase due to memory chip shortages fueled global inflation fears and concerns about corporate earnings.
AI Data Centre Boom to Drive Power Prices Higher
Electricity prices are expected to rise about 6% annually as AI-driven data centre expansion boosts power demand, supporting investment in generation and grid infrastructure.
Retail Investors Buy Record $12 Billion in US Semiconductor ETFs
Retail investors purchased a record ~$12 billion in US semiconductor ETFs over the past month, with inflows surging 1,200% since April, indicating aggressive retail participation in AI and chip stocks.
Taiwan Retail Margin Debt Hits Record High, Surpasses Dot-Com Era
Taiwan's retail margin loans have reached a record NT$600 billion, more than doubling in the past year and exceeding levels seen during the 2000 Dot-Com bubble, signaling heightened speculative activity.
DXY Rebounds to 101.50 on Fed Rate Cut Expectations
The US Dollar Index recovers from recent losses, trading around 101.50 during Asian hours, supported by growing bets on Federal Reserve rate cuts.
GBP/USD Stays Below 1.3200 as Hormuz Attack Boosts Safe-Haven USD
The GBP/USD pair holds a positive bias for a second day but remains below 1.3200 as a ship attack near Hormuz strengthens demand for the safe-haven US dollar.
USD/CAD Drops to 1.4200 as Oil Rally Boosts Canadian Dollar
USD/CAD fell for a second straight day, trading near 1.4200 in Asian trading on Friday, as rising oil prices supported the commodity-linked Canadian Dollar.
AUD/USD Dips to 0.6900 on Fed Rate Hike Expectations
The Australian dollar weakened against the US dollar during Asian trading on Friday, with the pair falling to around 0.6900 as markets price in further Federal Reserve rate hikes.
Yen Consolidates Near 40-Year Low After Tokyo CPI, Intervention Risks Loom
USD/JPY trades just below 162.00, near its lowest in four decades, as traders weigh Tokyo CPI data and the threat of Japanese intervention.