Market news
Crypto, stocks, forex and macro, aggregated for traders.
Canadian Dollar Extends Gains Against US Dollar, USD/CAD at 1.4010
The Canadian Dollar strengthens further, pushing USD/CAD to 1.4010, though the Bank of Canada's stance may limit additional upside.
GLD Gold ETF Sees Record $14.4B Outflows Since March
The largest US gold-backed ETF, GLD, has recorded $14.4 billion in outflows since March 1 — 50% more than the total outflows from all Bitcoin ETFs since October. March saw an all-time monthly high of $8.5 billion in withdrawals.
Dollar Index Recovers After Initial Drop on Soft US Inflation Data
The US Dollar Index has regained traction after a two-day decline triggered by softer-than-expected June CPI and PPI data.
TSMC Price Target $700 Amid Super Cycle
Analysts highlight Taiwan Semiconductor (TSM) as a key player in a grand super cycle, with a price target of $700 emphasizing its strategic importance in global technology.
BOK 25bp Hike Holds Door Open for August Follow-Up – SocGen
Societe Generale notes that the Bank of Korea's 25 basis point rate hike to 2.75% was unanimously supported and the July statement was more hawkish than May, keeping the possibility of another hike at the August 27 meeting alive.
US indices open mixed: Nasdaq falls 0.42%, Dow rises 0.26%
At the opening bell, the Nasdaq Composite fell 111.08 points (-0.42%), while the Dow Jones added 135.06 points (+0.26%). The S&P 500 opened down 13.54 points (-0.18%).
ING: Funds Boost Net Long Positions in TTF Natural Gas on Storage and LNG Competition
ING analysts Warren Patterson and Ewa Manthey report that investment funds have sharply increased net long positions in TTF natural gas, driven by concerns over storage levels and competition from LNG.
GBP Supported by Hopes of Fiscally Conservative Chancellor – OCBC
OCBC strategists note that expectations of a fiscally prudent chancellor under UK PM Burnham are lending support to the British pound.
GBP/JPY Eases After Hitting Highest Level Since 2007
The British pound edged lower against the yen on Thursday, taking a breather after reaching its strongest level since December 2007 the previous day, supported by reduced political uncertainty and expectations of more expansive fiscal policy.
Micron Stock Extends Losses, Down 15% in Two Days
Micron Technology shares fell sharply, extending a two-day decline to 15% as the memory chip selloff intensifies. The stock is now over 30% below its June 22 record high.
US Initial Jobless Claims Drop to 208K
The number of Americans filing new unemployment claims fell to 208,000 last week, according to the U.S. Department of Labor.
US Retail Sales Rise 0.2% in June to $768.6 Billion, In Line with Expectations
US Retail Sales rose 0.2% month-over-month in June to $768.6 billion, matching market expectations after a 1% increase in May.
BBH: US Dollar Decline Overdone, Steadies Near One-Month Low
Brown Brothers Harriman analyst Elias Haddad says the recent US dollar decline appears overdone, noting the currency has steadied near a one-month low after softer PPI and CPI data weighed on Fed rate expectations.
Bank of Canada Holds Rate at 2.25%, Softens Guidance – TD
TD Securities notes the BoC held its policy rate at 2.25% and removed references to rate-cut risks and consecutive hikes, interpreted as mildly dovish.
Sterling Short Squeeze on Reports of Fiscal Prudence
A powerful short squeeze in Sterling was triggered by reports that Shabana Mahmood could become Andy Burnham's chancellor, a choice seen as less fiscally risky.
Blockchain Transparency vs. Privacy: OSINT and On-Chain Analysis
A look at how on-chain analysis combined with open-source intelligence (OSINT) is used to trace blockchain activity, the tools crypto detectives employ, and the fine line between investigation and surveillance.
Gold Edges Lower as Energy-Driven Inflation Fears Sustain Fed Rate Hike Bets
Gold slipped on Thursday as traders focused on rising Middle East tensions and the potential for higher energy prices to reignite inflation, keeping Federal Reserve rate hike bets alive despite recent softer US CPI data.
BoC Holds Rate at 2.25%, USD/CAD Consolidates
The Bank of Canada left its policy rate unchanged at 2.25% for a sixth consecutive meeting. USD/CAD consolidates after benign US CPI and PPI data.
UnitedHealth Stock Surges Over 8% on Strong Q2 Earnings, Up 75% From March Low
UnitedHealth shares jumped more than 8% after reporting better-than-expected Q2 results. The stock is now up over 75% from its March 27 low.
Euro Slips to 1.1460 as US Dollar Rebounds
The Euro edged lower against the US Dollar on Thursday, retreating from earlier gains to trade near 1.1460.
UOB: USD/JPY Downward Momentum Points to Lower Intraday Range
United Overseas Bank analysts note a slight increase in downward momentum for USD/JPY, suggesting a lower intraday trading range.
PPI Surprise Drives Rally, Rate-Hike Odds Dive
A better-than-expected PPI report triggered a broad market rally, sharply reduced rate-hike expectations, and sparked rotation into tech stocks.
TD Securities Forecasts US June Retail Sales at 0.0% MoM
TD Securities expects June US Retail Sales to be flat month-on-month, below the consensus estimate of 0.2%, with weakness in the control group, falling gasoline prices, and a drop in food services.
Gold Price Slides Below $4,030, Eyes Further Downside Below $3,940
Gold (XAU/USD) fell 0.7% to near $4,030 during European trading, pressured by persistent inflation concerns and elevated energy prices amid escalating US military aggression. The metal remains below its 20-day EMA, with analysts eyeing further losses under $3,940.