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Marvell Technology (MRVL) Target $400 on Elliott Wave III Expansion
Marvell Technology (MRVL) is flagged for a potential rally to $400, driven by an Elliott Wave III expansion pattern that signals a powerful upside move.
British Pound Rebounds as Yen Fails to Hold BoJ Rate Hike Gains
GBP/JPY recovers from a short-lived pullback after the Bank of Japan's hawkish rate hike, currently trading around 215.10.
Top 10 US Stocks Reach $25.3 Trillion Market Cap, Exceeding China's GDP
The combined market capitalization of the top 10 US stocks has hit $25.3 trillion, surpassing China's GDP of $19.4 trillion and making them the second-largest stock market in the world if considered separately.
BoJ Hawksish Hike to 1.0% Bolsters Yen Outlook – BNY
BNY's Bob Savage says the Bank of Japan's 25bp rate hike to 1.0% and continued JGB tapering signal confidence in underlying inflation, supporting the yen.
OCBC: Limited USD Downside as Fed Caution Persists
OCBC’s Sim Moh Siong warns that recent risk-on sentiment following a U.S.-Iran understanding has only triggered a modest pullback in yields and the dollar, while AI-driven growth, Fed event risk, and oil dynamics continue to underpin the greenback.
RBA Holds Rate at 4.35%, Maintains Tightening Bias
The Reserve Bank of Australia kept its cash rate unchanged at 4.35% while reaffirming a tightening bias, signaling further rate hikes remain possible if inflation pressures persist.
USD/JPY Steady After BoJ Decision, Focus Shifts to Fed
Rabobank notes that USD/JPY is little changed after the latest Bank of Japan meeting, with market attention now on the upcoming Federal Reserve decision and the new Fed President.
NBC: USD/CAD to Stay Range-Bound on Central Bank Expectations
National Bank of Canada expects USD/CAD to remain broadly range-bound, with recent moves driven by shifting expectations for the Federal Reserve and Bank of Canada.
Trump Signals Progress on Iran Deal, Eyes Full Reopening of Hormuz
President Trump outlined next steps in the Iran agreement, stating the deal's text will be released soon and that the Strait of Hormuz should be fully reopened.
MUFG: BoJ Hike Alone Won't Break Yen; Intervention Risk Remains
MUFG warns that the Bank of Japan's recent rate hike is insufficient to push the yen below 160 per dollar, leaving intervention pressure intact.
US ADP 4-Week Average Employment Change Drops to 25.5K
Private-sector hiring in the US slowed in late May, with the four-week average ADP employment change falling to 25.5K jobs per week, according to the NER Pulse report.
Gold Extends Recovery Above $4,300 as Fed, US-Iran Deal in Focus
Gold (XAU/USD) holds above $4,300 on Tuesday, extending its recovery ahead of the Federal Reserve decision and amid awaiting further details on the US-Iran peace framework. The precious metal trades around $4,340, up 0.70% on the day.
Dollar Index Poised for Decline on US-Iran Peace Deal Optimism
Risk-on sentiment strengthens as a US-Iran peace deal is expected to be signed on Friday, putting the Dollar Index under pressure.
AUD/USD Faces Deeper Pullback Risk Below 0.7140: Societe Generale
Societe Generale warns AUD/USD could see further declines after failing to hold its 50-day moving average and forming a pattern of lower highs, with a deeper pullback risk below 0.7140.
USD/CHF Bears Gain Momentum, 0.7930 Support in Focus
The US dollar declines modestly against the Swiss franc on Tuesday, with bearish pressure building toward the 0.7930 support level and a potential test of the 0.7900 area.
SocGen Maintains USD/ZAR Rally Selling Strategy Ahead of Key Data
Societe Generale strategists say the South African rand’s direction depends on upcoming CPI and retail sales data, as well as the Federal Reserve’s next move, keeping the USD/ZAR rally-selling strategy in focus.
USD/PHP Bearish but Oversold, Snapback Risk – OCBC
OCBC's Christopher Wong notes a bearish bias for USD/PHP but warns of a potential snapback after an oversold move driven by softer yields and oil. The BSP faces a tough policy choice as inflation stays above target and growth slows.
RBA Hold at 4.35% Highlights Growth Slowdown – SocGen
Societe Generale notes the Reserve Bank of Australia kept rates unchanged at 4.35%, characterizing the statement as largely a mark-to-market exercise that underscores a growth slowdown.
45% of Central Banks Plan to Buy More Gold in Short Term – WGC
A World Gold Council survey shows 45% of central banks expect to increase gold purchases in the near term, with demand remaining strong despite a 120% price rise over the past two years.
BoJ’s 25 Bps Hike Provides Limited Yen Support, Says BBH
Brown Brothers Harriman notes that the Bank of Japan’s 25 bps rate hike to 1.00% has had a muted impact on USD/JPY, with JGB yields underperforming and the BOJ maintaining its tightening bias and JGB tapering plan.
Russia's Supreme Court Adds Digital Ruble, Digital Currency to Theft List
The Supreme Court of Russia has updated its 2002 ruling on judicial practice for theft, robbery, and burglary to include digital rubles, digital rights, and digital currency as items of theft.
WTI Oil Falls Below $78 to Three-Month Low on Hormuz Reopening Hopes
WTI crude oil hit a three-month low below $78 per barrel as expectations of a US-Iran deal and a possible reopening of the Strait of Hormuz pressure prices.
Bank of Japan Raises Rates to 1%, Ends Tapering by April 2027
The Bank of Japan raised its policy rate by 25 basis points to 1%, with one dissenting vote, and announced it will halt its bond tapering from April 2027. Future rate hikes depend on Middle East developments, with an October hike possible if a long-term peace deal is reached.
Dollar Recovers as Doubts Over US-Iran Deal Persist
The US dollar rebounded after markets questioned the effectiveness of the US-Iran agreement, with both sides claiming victory amid lingering disagreements.