Market news
Crypto, stocks, forex and macro, aggregated for traders.
Risk Aversion Flows Intensify Amid AI Tech Rout
Risk-off sentiment continues to grip markets following a deepening rout in AI tech stocks, triggered by the Kimi K3 AI model release and comments from China's President Xi.
TD Securities: GBP Bearish vs EUR on Hawkish ECB Guidance
TD Securities strategists see asymmetric downside risks for the British Pound against the Euro, citing hawkish ECB guidance and undervaluation of EUR/GBP relative to rate differentials.
Netflix Slumps as Chip Selloff Persists, S&P 500 Near Record
Netflix shares fell amid a continued selloff in chip and space stocks. The S&P 500 remains just 1% below its all-time high, suggesting the risk-off move has not yet destabilized broader markets.
Yen Recovery Supported by Homeward Investment Shift – MUFG
MUFG analyst Derek Halpenny notes the Japanese Yen remains near cyclical lows, but flows from the GPIF and Japan Trusts are already shifting back home, which could support a recovery.
Czech Producer Prices Remain Benign in June
Czech industrial producer prices stayed subdued in June despite higher input costs earlier in the supply chain. Agricultural producer prices posted an even sharper annual decline.
Silver on Track for Weekly Decline as Middle East Tensions Fuel Rate-Hike Worries
Silver (XAG/USD) trades near $55.50 on Friday, flat on the day, but is set to post a weekly loss as heightened Middle East tensions raise expectations of interest rate hikes.
US Stock Markets Drop on Tech Losses
US equities fell as the tech sector suffered substantial losses, dragging Nasdaq and S&P 500 lower. Positive economic data and a decent start to earnings season failed to offset the decline.
OCBC: USD Smile Narrative Supports Gradual Gains
OCBC strategists say the US dollar remains supported by its yield advantage and safe-haven status, with FX moves still fitting the USD smile pattern.
WTI Crude Consolidates Near $79 Ahead of Breakout
West Texas Intermediate crude oil continues to trade in a tight range around $79.00 for the fourth consecutive session, with analysts eyeing bullish momentum for the next leg higher.
US Tariffs on Brazilian Exports to Shape Election Dynamics – Standard Chartered
Standard Chartered analyst Dan Pan assesses the impact of new US Section 301 tariffs on Brazilian exports, with a 25% levy effective July 22 that could influence upcoming elections.
UK GDP Beats Forecasts, Burnham Appoints Mahmood as Chancellor
UK GDP outperformed expectations, while odds aggregators had shown Ed Miliband as a 68% favorite for Chancellor before Andy Burnham instead appointed Shabana Mahmood, a more fiscally conservative choice.
Tech Earnings to Test Equities Amid Geopolitical Risks and Dollar Weakness
The US dollar weakened after softer CPI and PPI reports, while traders eye technology earnings for a potential equity boost amid lingering geopolitical tensions.
UOB: USD/JPY Edges Higher, Bias Tilted Modestly Upside Within Tight Band
UOB strategists note USD/JPY has edged higher to around 162.35, with intraday bias tilted modestly to the upside but capped within a tight band. The yen shows a slight downside bias against the US dollar.
USD/CAD Forecast: Further Downside to 1.3970 Possible
USD/CAD edged lower to around 1.4033 during European trading, with analysts seeing potential for a drop toward 1.3970 as the Canadian dollar strengthens on rising oil price concerns.
USD/CHF Rejection at 0.8100 Keeps Dollar on Back Foot
The US Dollar reversed lower against the Swiss Franc on Friday after failing to hold above the 0.8100 level, maintaining a bearish technical outlook. Soft US inflation data continues to weigh on the greenback.
Wells Fargo: Fed to Hold Rates Through 2027, 10Y Near 4.35%
Wells Fargo Economics, led by Tom Porcelli, expects the Federal Reserve to keep the fed funds rate at 3.50%-3.75% through year-end 2027, with the 10-year Treasury yield around 4.35% in 2026 and 4.30% in 2027.
ECB September Rate Hike Still Possible, Commerzbank Says
Commerzbank economists led by Dr. Marco Wagner and Dr. Jörg Krämer expect the European Central Bank to leave rates unchanged in July but still deliver a 25 basis point hike in September.
Leaked Suno Code Shows Millions of Tracks Downloaded for AI Training
A leaked Suno source code reveals logs of over 2 million clips from YouTube Music being used to train its AI, potentially strengthening copyright claims by music labels.
Euro Flat Against US Dollar at 1.1445 as Weekend Approaches
The Euro trades flat against the US Dollar around 1.1445 during the European session on Friday, with caution prevailing amid ongoing US military aggression.
US Dollar Holds Above Support as Risk Sentiment Fades
The US Dollar remains under pressure but holds above a key support zone, while overall risk sentiment begins to fade.
US Stock Index Futures Slip Ahead of Michigan Consumer Sentiment Data
Dow Jones, S&P 500, and Nasdaq 100 futures fell in European trading on Friday as traders awaited the preliminary Michigan Consumer Sentiment Index.
Euro Trims Losses vs Pound on ECB Tightening Hopes
The Euro recovers against the British Pound on Friday, rising from 13-month lows to near 0.8500 amid speculation that the ECB will raise interest rates.
Euro Bullish Bias Capped by Resistance – UOB
UOB strategists note EUR/USD has eased after Wednesday's surge and is now consolidating between 1.1420 and a resistance level, maintaining a bullish bias but capped.
US Dollar Index Loses Traction near 23.6% Fibonacci at 100.85
The US Dollar Index (DXY) pulls back after Friday's uptick, stalling its recovery from a one-month low near 100.35 as sellers emerge near the 23.6% Fibonacci retracement level.