Market news
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British Pound Slides on Soft UK Inflation Data
The British Pound fell to weekly lows against the US Dollar after weaker-than-expected UK inflation figures were released.
US Congress Deal Pauses Fed CBDC Until 2030
The US Congress has reached a bipartisan agreement on a major housing bill that includes a provision prohibiting the Federal Reserve from issuing a central bank digital currency until 2030.
Euro Strengthens Against Pound After UK CPI Data
EUR/GBP rose to around 0.8650 as the British Pound weakened following the release of UK inflation data. Traders now focus on the upcoming Bank of England rate decision.
USD Firms Ahead of FOMC as Rate Expectations Drive Support – BNY
The US Dollar is strengthening ahead of the FOMC meeting, driven by rate expectations rather than safe-haven demand, according to BNY’s Geoff Yu. iFlow data shows clients net selling the Canadian and Australian Dollars while some North Asian currencies remain attractive.
Brent Oil Extends Decline on US-Iran Peace Framework Reports
Deutsche Bank reports that Brent oil prices have continued to fall as markets react to news of a proposed US-Iran peace framework, including export waivers and a potential reopening of the Strait of Hormuz.
SpaceX Emerges as IPO Candidate to Watch This Year
SpaceX is gaining attention as a potential IPO this year, set against a backdrop of fluctuating post-pandemic IPO activity driven by economic uncertainty, rising interest rates, and inflation.
UK CPI Holds at 2.8% in May, Well Above BoE Target
UK annual CPI inflation remained at 2.8% in May, unchanged from April, according to ONS data released Wednesday. The reading is significantly above the Bank of England's 2% target.
Fed and Riksbank Expected to Hold Rates; Focus on Warsh's First Press Conference
Markets expect the Riksbank and the Federal Reserve to keep rates unchanged, with attention turning to new Fed Chair Kevin Warsh's inaugural press conference.
World Bank Sees Global Growth Slowing to 2.5% in 2026
The World Bank projects global economic growth will slow to 2.5% in 2026, the weakest pace since the COVID-19 pandemic, according to its latest Global Economic Prospects report.
FOMC Preview: Kevin Warsh Takes Helm, Rates Expected Unchanged
The Federal Reserve is set to announce its latest policy decision with a 99.4% probability of holding rates at 3.5–3.75%. Kevin Warsh assumes leadership, making communication as critical as the dot plot.
Yen Strengthens as USD/JPY Dips Ahead of Fed Decision
USD/JPY slipped to near 160.25 during early European trading as traders await the US Federal Reserve's interest rate decision under new Chair Kevin Warsh.
Gold Elliott Wave Signals Bullish Continuation
Gold (XAU/USD) has completed its initial decline from the April 17 peak and is now expected to rally in a three-wave corrective structure, according to an Elliott Wave analysis.
Indonesian Rupiah Weakens Ahead of Fed Decision, USD/IDR Rises
The Indonesian Rupiah weakened against the US dollar on Wednesday, pushing USD/IDR to 17,770 as traders turned cautious ahead of the Federal Reserve's policy decision.
EUR/USD Holds Above 1.1600 as Bulls Await Fed Rate Decision
The EUR/USD pair trades with a positive bias for the third consecutive day, holding steady above the 1.1600 mark as traders anticipate the Federal Reserve's interest rate decision.
Iran Fires Drones at Commercial Ships in Strait of Hormuz After US Deal
Iran reportedly launched multiple drones at merchant ships in the Strait of Hormuz shortly after reaching a memorandum of understanding with the United States over the weekend.
Rabobank: Central Bank Gold Demand Rises on De-Dollarization
Rabobank's research team notes growing central bank demand for gold amid rising global insecurity and de-dollarization trends.
AUD/JPY Holds Above 113.00 as BoJ Rate Hike Spurs Yen Strength
The AUD/JPY cross trades near 113.25 in early European trading on Wednesday, with the yen strengthening after the Bank of Japan raised rates to their highest level in over three years. A neutral RSI suggests consolidation may continue.
Indian Rupee Steadies on Risk-On Mood, Oil Decline Caps Gains
The Indian Rupee held ground against the US dollar on Wednesday, supported by improved risk appetite and falling global oil prices. However, the upside for USD/INR remains capped as downward pressure on the rupee eases.
AUD/USD Consolidates Above 0.7050 as 100-Day SMA Holds Ahead of Fed
The AUD/USD pair maintains a negative bias for a second day but holds above 0.7050, with the 100-day SMA as a key level ahead of the Federal Reserve meeting.
Gold Consolidates Above $4,300 as Traders Await Fed Decision
Gold (XAU/USD) holds above $4,300 but lacks momentum during Asian trading as markets await the Federal Reserve's rate decision for fresh direction.
PBOC's Pan: Will Act If Overnight Rate Deviates from Operation Rates
People's Bank of China Governor Pan Gongsheng stated that the central bank will take action if the money market overnight rate persistently strays from operation rates.
Gold Holds Near $4,350 as Traders Await Fed Decision
Gold is trading near $4,350 in Asian trading, extending its five-day winning streak but remaining within a familiar range as markets await the Federal Reserve's monetary policy decision for direction.
EUR/JPY Rebound to 186.50 Possible as Bullish Bias Persists
EUR/JPY pulled back slightly after three consecutive days of gains, but remains above key exponential moving averages, keeping a constructive short-term bias. Market observers note potential for a move back toward 186.50.
US Dollar Index Weakens to Near 99.50 on Iran Peace Deal Hopes, Fed Awaited
The US Dollar Index fell to around 99.50 in Asian trading as optimism over a potential US-Iran peace deal weighed on the greenback ahead of the Federal Reserve's interest rate decision.