Market news
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Hawkish BoK Hike Supports South Korean Won, Says BBH
Brown Brothers Harriman notes the Korean Won is outperforming after the Bank of Korea's hawkish 25 bps hike to 2.75%, with expectations that growth and core inflation will exceed 2026 forecasts.
Thai Baht Overvaluation Signals Weakness vs US Dollar: MUFG
MUFG analyst Lloyd Chan warns that the Thai baht's overvaluation is likely to lead to weakness against the US dollar, despite softer US inflation data weakening the greenback.
USD/CHF Rebounds from 0.8042 Support, Bulls Target 0.81
USD/CHF reversed course, rising over 0.40% as the dollar recovered amid risk aversion, Middle East tensions, and strong US data. The pair bounced from 0.8042 support and now trades near 0.8088, with bulls eyeing the 0.81 level.
Coca-Cola's Fairlife Halts US Production After Ransomware Attack
Coca-Cola's Fairlife brand temporarily suspended U.S. production following a ransomware incident that disrupted system access. The company says product quality and safety remain unaffected, and Canadian operations are not impacted.
US Dollar Rises on Resilient Labor Data; Oil and Gold Fall
The US Dollar Index climbed toward 100.80 after initial jobless claims fell to 208K, below the expected 217K. Meanwhile, oil and gold prices declined.
Chip Selloff Drags U.S. Stocks Lower on AI Spending Returns Doubts
U.S. stocks fell as a 4.3% drop in chipmakers fueled concerns over AI investment returns, with the Nasdaq 100 down 1.6% and Alphabet sliding 4.4% on reports of AI model delays.
BHP High-Voltage Workers Vote Overwhelmingly for Industrial Stoppages
97.5% of BHP high-voltage workers have endorsed industrial stoppages after four months of targeted work bans, according to the Electrical Trades Union.
Intuitive Surgical Q2 Revenue Beats Estimates, EPS $2.80 vs $2.50 Est.
Intuitive Surgical reported Q2 revenue of $2.892B, beating the $2.820B consensus. Adjusted EPS of $2.80 also topped the $2.50 estimate, and the company guided for FY da Vinci procedure growth of ~13.5%-15.5%.
Netflix Q2 EPS Beats, Revenue Misses, Q3 Outlook Below Estimates
Netflix reported Q2 earnings per share of $0.80, beating estimates of $0.79, but revenue of $12.56B fell short of the $12.58B consensus. Q3 guidance came in below expectations, with EPS forecast at $0.82 vs. $0.84 est. and revenue at $12.86B vs. $13.0B est.
Brazil Reaffirms Free Trade Commitment, Weighs Reciprocity Law on US Measures
Brazil reiterated its dedication to free trade, WTO rules, and the multilateral trading system, adding that it will decide at the appropriate time whether to invoke its new reciprocity law in response to potential U.S. trade actions.
Brazil VP Alckmin Calls US Tariffs Unfair and Unreasonable
Brazil’s Vice President Geraldo Alckmin said US tariffs are unfair and based on false premises, arguing that the US actually runs a trade surplus with Brazil and most American exports enter Brazil duty-free.
USD/SGD Downside Momentum Intensifies, UOB Sees Support at 1.2875
UOB analysts Quek Ser Leang and Lee Sue Ann note that USD/SGD downside momentum has intensified after a sharp intraday swing, with firm support highlighted at 1.2875.
Merck Wins FDA Approval for First Oral PCSK9 Inhibitor Lipfendra
Merck announced FDA approval of Lipfendra (enlicitide), the first once-daily oral PCSK9 inhibitor for lowering LDL cholesterol, bolstering its post-Keytruda pipeline with multi-billion-dollar sales potential.
US-Mexico Trade Deal Shift Threatens Silver Supply Stability
The US declined to renew the long-term trade agreement with Mexico, which produces about a fifth of the world's silver. The deal now faces annual reviews instead of a 16-year lock-in, creating supply uncertainty.
Mexican Peso Falls on Risk Aversion, Rising Energy Prices
The Mexican Peso weakened about 0.30% on Thursday as increased risk aversion from an escalation in the Middle East conflict drove energy prices higher and underpinned the US Dollar.
OCBC: USD/CNY Extends Decline as PBoC Validates Gradual Yuan Gains
OCBC strategists note USD/CNY extended its decline after softer US CPI and PPI data, with firmer PBoC fixings supporting gradual yuan appreciation, though gains remain capped.
Richest Americans' Wealth Reaches Record 12% of National Income
The top 0.00001% of Americans now control about 12% of US national income, a record high that has more than quadrupled since the 2008 Financial Crisis, fueled by surging equity and real estate markets.
EUR/USD Slides as US Jobless Claims Support Dollar
EUR/USD fell to around 1.1440 on Thursday, retreating about 0.2%, as stronger-than-expected US jobless claims boosted the US Dollar and weighed on the euro.
EU Seeks to Rebalance Trade with China Without Closing Door: Standard Chartered
Standard Chartered analysts note the European Union is working to recalibrate its trade relationship with China, aiming to strike a balance without severing ties.
Australian Dollar Price Forecast: Further gains remain on the cards
AUD/USD faces resistance near 0.7000 but the pair's constructive outlook remains intact above its 200-day SMA.
Google Engineers Frustrated Over Slow AI Development Pace
Internal frustration is growing among Google engineers and managers over the pace of AI development, with some employees worried the company is losing its competitive edge to Anthropic and OpenAI.
Silver Tests $55 Support as Dollar Recovery Pressures XAG/USD
Silver extends losses on Thursday as the US dollar rebounds and Treasury yields stabilize after softer inflation data, with XAG/USD falling 3.5% to trade near $55.75.
AXA to Sell Entire 10% Ardian Stake; ACM and Wafra Invest
AXA will divest its 10% stake in private equity firm Ardian, with ACM increasing its ownership to 23% and Wafra investing additional capital. Ardian employees remain the largest shareholder group at about 40%, and the transaction is expected to close between late 2026 and early 2027.
Gold drops 1.8% on oil shock, revives Fed rate hike bets
Gold price fell over 1.8% as US-Iran tensions fuel oil supply disruption fears, driving energy prices higher and reviving expectations of further Fed rate hikes.