Market news
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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.
RBA Hold Pressures AUD/USD as Downside Risks Persist
The Reserve Bank of Australia left rates unchanged, causing AUD/USD to retrace part of its earlier US-Iran peace agreement rally, according to Brown Brothers Harriman analyst Elias Haddad.
Qatar to Join Geneva Talks, No Funds Released for Reconstruction
Qatar's foreign ministry spokesperson announced participation in Geneva talks and stated that no Qatari funds have been paid under the $300 billion reconstruction framework.
Trump: US wants Iran's enriched uranium
US President Donald Trump stated on Tuesday that the US aims to obtain Iran's enriched uranium.
BoJ Hikes to 1.00%, Yen Still Below 160.00
The Bank of Japan raised its key interest rate to 1.00%, the highest in over three decades, but the Japanese yen remains weak near the 160.00 level against the US dollar.
Australian Dollar Weakens After RBA Pause, Fails to Reclaim 0.7100 – MUFG
The Australian Dollar eased after the RBA held rates at 4.35% as expected, failing to breach the 0.7100 resistance level, according to MUFG analyst Lee Hardman.
RBA Holds Rate at 4.35%, Signals Hawkish Pause
The Reserve Bank of Australia kept the cash rate unchanged at 4.35%, ending a streak of three consecutive hikes while maintaining a hawkish stance. The decision was widely expected, but the accompanying statement stressed that this is a pause, not an end to the tightening cycle.
BoJ Hikes Rate to 1.00%, Yen Remains Under Pressure – MUFG
MUFG notes the Japanese Yen is little changed after the BoJ's widely anticipated 0.25% rate hike to 1.00%, with USD/JPY still above 160.00. The central bank also paused its QE taper from FY2027 while continuing gradual JGB reductions.
Silver Rises to $70.51, Up 0.70% on Tuesday
Silver prices (XAG/USD) climbed on Tuesday, trading at $70.51 per troy ounce, up 0.70% from the previous close of $70.02, according to FXStreet data.
European Stocks Rise, Oil Drops on US-Iran Deal to Reopen Hormuz
European stock markets extended gains Tuesday after a Monday relief rally on news that the US and Iran will sign a deal to end the war and reopen the Strait of Hormuz. Oil prices fell on the prospect of increased supply.
Germany ZEW Economic Sentiment Turns Positive to 10.5 in June
Germany's ZEW Economic Sentiment index rebounded to 10.5 in June, moving into positive territory after a negative reading in May, sharply beating the expected -6.0.
Sociologist Vadim Volkov Discusses Anarchism's Influence on Blockchain, Crypto, and DAOs
In a podcast interview, sociologist Vadim Volkov explores the historical roots of anarchism and how classical anarchist ideas have shaped the development of blockchain technology, cryptocurrencies, and decentralized autonomous organizations (DAOs).
GBP/USD Faces Upside Risks, but Momentum Flattening – UOB
UOB analyst Quek Ser Leang notes that GBP/USD stalled just below key resistance at 1.3465, closing near 1.3410, with intraday momentum indicators turning. The outlook retains upside risks but shows signs of waning bullish momentum.
NZD/USD Holds Near 0.5800 Support as Risk Appetite Wanes
The New Zealand Dollar edges lower against the US Dollar on Tuesday, trading at 0.5820 after a bounce from session lows. Support at 0.5800 remains in focus as risk appetite declines.
USD/CAD extends uptrend toward 1.4150 – SocGen
Analyst Kenneth Broux of Societe Generale notes USD/CAD has broken above a key descending trendline and a multi-month base, signaling further upside toward 1.4150.
US Dollar Rallies as Fed Expectations Override Oil Drop: ING
The US Dollar is gaining ground, supported by strong economic data and Federal Reserve expectations, despite a sharp decline in oil prices, according to ING strategists.
RBA Holds Rate at 4.35%, Sees Sticky Inflation
The Reserve Bank of Australia kept its cash rate unchanged at 4.35%, noting inflation remains sticky but broadly in line with its base case, allowing a restrictive stance.
Societe Generale: BoJ Rate Hike Marks Floor for Yen Gains
Analysts at Societe Generale say the Bank of Japan's rate hike to 1.0% is the bottom of the neutral range and that new language on upside inflation risks supports further tightening, pointing to medium-term gains for the Japanese yen.