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FOMC Meeting Next Week: Expected Neutrality as Warsh Takes Chair
The upcoming FOMC meeting is expected to maintain a neutral stance, with Kevin Warsh presiding as Chair for the first time. Analysts anticipate no major policy shifts given the precarious economic environment.
Pakistan PM Announces US-Iran Peace Deal Text Agreed
Pakistan's Prime Minister Shehbaz Sharif announced that a final agreed text of a peace deal between the US and Iran has been reached, with Pakistan working to finalize next steps.
Pakistan PM Sharif: Final Peace Deal Text Agreed, Working on Next Steps
Pakistan Prime Minister Sharif confirmed that a final text of the peace deal has been reached, dismissing misinformation campaigns. He stated that the country is working closely with both sides to finalize next steps, adding that peace has never been this close.
Silver firms on USD weakness, easing US-Iran haven demand
Silver (XAG/USD) trades around $67.50, up 0.21% on the day, supported by a weaker US dollar and reduced haven demand as US-Iran diplomatic progress improves market sentiment.
SpaceX Stock Begins Trading at $160.83, Up 19% from IPO
SpaceX stock (SPCX) started trading at $160.83 per share, a 19% gain from its IPO price, pushing the company's valuation to $2.1 trillion and making it the 7th largest public company globally.
US Economy Shows Resilience Despite Iran War Disruptions
More than three months after the start of the Iran war and resulting global energy market disruptions, the US economy continues to show remarkable strength. The post raises the question of whether this resilience can be sustained.
Iran FM Says Islamabad MoU 'Never Been Closer'
Iran's Foreign Minister Araghchi stated that the Islamabad Memorandum of Understanding is closer than ever, promising full transparency in sharing details with the public.
Iran FM: Islamabad MoU 'Never Been Closer' to Finalization
Iran's Foreign Minister Seyed Abbas Araghchi stated that the Islamabad Memorandum of Understanding is closer than ever to finalization, urging media to avoid speculation until details are released.
Iran Attempts Strike on Commercial Ships in Strait of Hormuz; US Downs Drones
Iran attempted to attack commercial vessels transiting the Strait of Hormuz overnight, prompting US forces to shoot down two Iranian one-way attack drones, a defense official confirmed.
US Shoots Down Iranian Drones Targeting Ships in Strait of Hormuz
The US military shot down two Iranian attack drones that were targeting vessels in the Strait of Hormuz, according to a US defense official, amid President Trump's public criticism of Iran's continued targeting of ships.
Trump Calls Iran 'Dishonorable,' Rejects Leaked Deal Terms
President Trump stated that leaked deal terms from Iran are not the agreed terms, calling Iranian leaders 'very dishonorable' and lacking good faith.
Trump Denies Iran Leak, Calls Tehran Dishonorable Over Drone Attack
President Trump claimed that terms leaked by Iran to the media are not the real agreement and criticized Tehran's conduct, including a drone attack on Indian ships near the Hormuz Strait.
White House Official: Iran Deal Requires Nuclear Dismantlement, Performance-Based
A White House official, cited by Fox News, outlined key terms of a new Iran deal, including destruction of nuclear material, dismantling of the nuclear program, and performance-based release of funds.
US Stocks Open Mixed as Dow, S&P 500 Rise; NASDAQ Falls
At the market open, the S&P 500 gained 0.18% to 7,407.28, the Dow Jones rose 0.62% to 51,165.08, while the NASDAQ edged down 0.03% to 25,801.22.
Copper Near Record Highs on Supply Tightness, Tariff Risks – ING
ING notes LME copper is trading near record highs, supported by supply tightness, US tariff-driven stockpiling, and AI-related power demand. The COMEX-LME spread remains elevated as the market prices in tariff risk.
Gold Holds Near $4,200 as US-Iran Deal Talks Weigh
Gold consolidates around $4,200 after recovering from a nearly seven-month low of $4,023, as traders assess potential US-Iran peace deal developments.
US Copper Tariff Decision Expected by June 30
The US Commerce Secretary must deliver a recommendation on copper import tariffs to President Trump by June 30. Markets have already begun pricing in potential outcomes.
Warsh’s First FOMC Meeting Seen Neutral, Rate Cuts Removed from Dot Plot
Nordea’s Jan von Gerich predicts Kevin Warsh’s debut FOMC meeting on June 17 will deliver a more neutral policy stance, with earlier projected rate cuts likely removed from the dot plot and some hike calls appearing.
ECB Hikes Rate to 2.25% in First Move Since 2023, Hawkish Tone
The European Central Bank raised its deposit rate to 2.25%, its first rate hike since 2023, and delivered hawkish messaging, according to Deutsche Bank economists.
WTI Oil Falls for Second Day as US-Iran Deal Hopes Ease Tensions
West Texas Intermediate (WTI) extends its decline for a second straight day, trading near $82.90, as investors unwind defensive positions amid growing optimism over a potential US-Iran deal that could reduce the risk premium tied to Hormuz Strait disruptions.
Iran: No Commitment on Strait of Hormuz in US MOU
Iran's state news agency IRNA reports that a memorandum of understanding with the US includes no commitments on managing the Strait of Hormuz. Future administration of the strait will be decided regionally via dialogue between Tehran and Oman.
Gold Slides Nearly 3% Weekly, Breaks Below 200-Day MA
Gold fell close to 3% week-over-week, trading below its 200-day moving average despite a halt in airstrikes on Iran. Prices are now roughly 20% lower than their level at the start of the conflict.
Drafted US-Iran MOU Sparks Optimism, Aids SpaceX IPO
Optimism over a drafted memorandum of understanding between the US and Iran is providing macro tailwinds that could benefit the potential SpaceX IPO, while European markets digest the latest ECB rate hike ahead of a more complicated policy decision in July.
ECB Raises Rates by 25 bps, Calls It an Adjustment Not Start of Tightening Cycle
The European Central Bank raised its key interest rates by 25 basis points to 2.25%, describing the move as an adjustment rather than the beginning of a tightening cycle.