Market news
Crypto, stocks, forex and macro, aggregated for traders.
UK PM Starmer: Defence Spending to Reach £80bn per Year by 2029
UK Prime Minister Starmer announced defence spending will rise to £80 billion annually by 2029, increasing to 2.7% of GDP with a trajectory to 3% in the next parliament. Non-military spending will be cut to fund the increase.
BoJ's Sato: Middle East De-escalation Welcome but Uncertainty Remains
Newly appointed Bank of Japan board member Ayano Sato said the de-escalation of the Middle East conflict is welcome for the economy, but uncertainty persists.
Gold Falls Below $4,000, Hits 8-Month Low on Fed, Geopolitics
Gold prices dropped below $4,000 per troy ounce on Tuesday, reaching an eight-month low amid expectations of further Fed tightening and Middle East uncertainty.
ECB's Wunsch: Another Rate Hike May Be Needed
European Central Bank policymaker Pierre Wunsch indicated that inflationary pressures in the eurozone could stay above the 2% target for several quarters, suggesting the ECB might need to raise rates again.
BNY Analysts: Fed May Adjust Reserve Management Purchases as Comfort with System Reserves Grows
BNY Markets analysts John Velis and David Tam flag new qualifying language in the Fed's stance, suggesting the FOMC is more comfortable with current system reserve levels and could adjust reserve management purchases accordingly.
ECB's Lane: Oil Prices to Stay Above Pre-War Levels Through 2028
European Central Bank chief economist Philip Lane said oil prices are expected to remain above pre-Ukraine war levels through 2027-2028, reflecting persistent supply-side pressures.
Macro Transmission Returns to Growth-Led Narrative on Strong US, Australian Data
The macro transmission chain shifted back toward a growth-led narrative last week, supported by stronger US activity data and resilient Australian labor indicators. Inflation signals remained mixed, with softer Australian CPI contrasting with firmer Canadian inflation.
WTI Crude Holds Near $70 as US-Iran Talks and OPEC Tensions Weigh
West Texas Intermediate crude oil stalls around $70.10 per barrel as traders assess potential US-Iran negotiations in Doha and ongoing OPEC discord, keeping prices under pressure.
Easing Oil Prices Ahead of Flash Inflation in Central Europe
Oil prices are easing as markets await June flash inflation estimates from Poland and Slovenia today, followed by euro area data. The developments could influence monetary policy expectations in the region.
Gold hits fresh YTD low as USD strengthens on geopolitics, Fed bets
Gold (XAU/USD) extended its decline for a second day, touching a new year-to-date low near $3,942-$3,943 during Asian trading, pressured by a stronger USD amid US-Iran tensions and expectations of further Federal Reserve rate hikes.
G10 Excess Liquidity Indicator Turns Negative for First Time Since 2021
The G10 Excess Liquidity Leading Indicator has turned negative for the first time since the 2021 inflation shock, historically leading the S&P 500 by roughly six months and signaling potential downside for U.S. equities.
China's Manufacturing PMI Beats Expectations, Rising to 50.3 in June
China's official Manufacturing PMI rose to 50.3 in June, above the expected 50.1, signaling expansion. The stronger data may provide support for the Australian Dollar due to close trade ties.
WTI Crude Drops to Near $70 on Conflicting US-Iran Signals
West Texas Intermediate crude fell to around $70.10 per barrel during Asian trading on Tuesday, reversing recent gains amid mixed signals on US-Iran talks.
Asia-Pacific Equities Open Higher After Wall Street Rally, Dow Hits Record
Asia-Pacific stock markets opened mostly higher on Monday, following a strong session on Wall Street where the Nasdaq led gains in tech and communication services, and the Dow Jones Industrial Average closed at a record high.
Asian Stocks Rise on Tech Rally, Set for Best Quarter in 17 Years
Asian stocks rallied on Wednesday, driven by technology shares, putting the region on track for its strongest quarterly performance in 17 years. Global equities also head for their best quarter in nearly six years, as investors eye US-Iran peace talks and US jobs data.
Asian Stocks Rally, Yen Hits 40-Year Low as Tech Rebounds
Asian stocks climbed, putting the MSCI Asia Pacific Index on track for its best quarterly gain in 17 years, while the yen weakened to a 40-year low near ¥162 per dollar, raising intervention expectations.
Trump Calls for Immediate Gasoline Price Cuts, Targets $2.50/Gallon
President Trump demands gasoline retailers slash prices immediately, citing oil at $68/barrel and declining, and warns of consequences if they fail to act.
US, Iran to Hold Fresh Talks in Qatar on Tuesday – Trump
US President Donald Trump announced via social media that the US and Iran will hold new talks in Doha, Qatar on Tuesday, following a weekend of hostilities.
Gold Drops to $4,015 as Inflation Fuels Rate Hike Expectations
Gold (XAU/USD) slipped to around $4,015 during early Asian trading on Tuesday as rising inflation pressures strengthened expectations that central banks will maintain higher interest rates.
Australia Regulator Sues Amazon Over Prime Video Ads
The Australian Competition and Consumer Commission (ACCC) has taken Amazon to court, alleging the company used unfair contract terms when introducing advertisements to Prime Video, affecting over one million subscribers.
AI-Linked Sectors Lose 11,000 Jobs Monthly Over Past 3 Months
Employment in AI-affected sectors has declined by an average of 11,000 jobs per month over the last three months, with May seeing a record 38,579 job cuts attributed to AI, according to Challenger Gray data.
World Bank Extends Climate Plan, Drops 45% Lending Target
The World Bank is extending its Climate Change Action Plan but will abandon the target of allocating 45% of lending to climate projects, instead prioritizing development outcomes.
Iranian President Advocates Rationality and Decisive Defense Against Threats
In a post on X, Iran's President stated that the approach to unreasonable boasting and unfounded threats is to rely on rationality and human dignity in decision-making while responding with decisive, fearless defense.
US Stocks Rally as Tech Rebounds, S&P 500 +1.2%, Nasdaq 100 +2.3%
US equities bounced back on Monday as buyers returned to technology shares, pushing the S&P 500 up 1.2% and the Nasdaq 100 2.3% higher. The rebound was supported by the resumption of US-Iran peace talks and a strong recovery in chipmaker stocks.