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SpaceX stock reaches new intraday high an hour into first trading session
SpaceX (SPCX) stock swung to a new daily high an hour into its first day of trading on Friday.
Japanese Yen holds as traders switch focus to BoJ hike and Warsh’s first Fed meeting
The USD/JPY pair trades near the 160.20 region on Friday as the Japanese Yen (JPY) remains slightly under pressure, while investors prepare for a key central bank week featuring the Bank of Japan's (BoJ) policy decision and Kevin Warsh’s first Federal Reserve (Fed) meeting as Chair.
Silver price firms on US Dollar weakness amid easing US-Iran haven demand
Silver (XAG/USD) trades around $67.50 on Friday at the time of writing, up 0.21% on the day. The white metal maintains a positive bias despite improving market sentiment driven by diplomatic progress between the United States (US) and Iran.
SpaceX launches 24% higher at Friday debut
Space Exploration Technologies (SPCX), aka SpaceX, zoomed 24% higher soon after the start of its first IPO trading day on Friday. Shares of the rocket and artificial intelligence (AI) company founded by Elon Musk began trading at about 11:46 am EST and quickly gained speed.
BoE expected to hold rates as economists split on next move – Reuters poll
A Reuters poll released on Friday found that the Bank of England (BoE) is projected to keep the Bank Rate at 3.75% at the June 18 meeting, based on a survey of 65 economists.
Pound Sterling Price News and Forecast: Stalls as UK GDP shrinks, diplomacy boosts risk mood
The Pound Sterling turned negative on Friday against the US Dollar after data from the UK showed the economy contracted in April, while an agreement between the US and Iran improved risk appetite. Yet the Greenback erased its earlier losses and traded above its opening price.
British Pound stalls as UK GDP shrinks, diplomacy boosts risk mood
The Pound Sterling (GBP) turns negative against the US Dollar (USD) on Friday after UK data showed the economy contracted in April, while rising prospects of an agreement between the US and Iran improved risk appetite.
US officials' comments on Iran negotiations put mild pressure on US Dollar
United States Vice President JD Vance said on Friday that Iran would not receive cash or released funds simply for signing a potential agreement, pushing back against what he described as false information surrounding a possible deal to reopen the Strait of Hormuz and end Iran’s nuclear weapons prog
British Pound: Steady against US Dollar before key BoE and data – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret note that the British Pound (GBP) is consolidating recent gains around 1.3400, with domestic risk elevated ahead of next week’s CPI, labour data and the Bank of England decision.
Euro supported by hawkish ECB rhetoric as British Pound struggles after weak GDP
EUR/GBP holds firm on Friday, with the Euro (EUR) modestly outperforming the British Pound (GBP) as weak UK Gross Domestic Product (GDP) data reinforced signs of a slowing economy. At the time of writing, the cross trades around 0.8633, up from an intraday low of 0.8625.
CEE FX: Risk-on bounce but policy still key – ING
ING’s Frantisek Taborsky notes that headlines on a possible end to the US-Iran conflict triggered a risk-on move, helping Central and Eastern European currencies erase recent losses.
Gold pauses recovery as traders await clarity on US-Iran peace deal
Gold (XAU/USD) consolidates on Friday as traders await further developments on a potential US-Iran peace deal. At the time of writing, XAU/USD is trading around $4,189 after climbing to an intraday high of $4,246 earlier in the day.
Canadian Dollar: Overbought Dollar holds near 1.40 ceiling – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret observe that the Canadian Dollar (CAD) is weighed down by weaker Oil prices linked to Iran peace hopes, even as improved risk appetite offers some support.
New Zealand Dollar dips as robust US sentiment, inflation data underpin US Dollar
NZD/USD trades around 0.5830 on Friday at the time of writing, down 0.15% on the day as the US Dollar (USD) maintains a firm tone following a series of strong US economic releases.
European Central Bank: Hawkish forecasts point to higher terminal rate – Nomura
Nomura’s European Economics team, led by Andrzej Szczepaniak and colleagues, notes that the ECB delivered a 25bp hike to a 2.25% depo rate and unveiled more hawkish forecasts.
Bank of England: Hold stance extended as inflation risks linger – TD Securities
TD Securities economists expect the Bank of England (BoE) to keep Bank Rate at 3.75% with a 7-2 vote as Greene joins Pill in calling for a hike. They highlight persistent inflation pressures, upside risks from energy and airfare, and softer demand.
Breaking: United States Michigan Consumer Sentiment Index rises to 48.9 in June
Consumer confidence in the United States (US) improved slightly in June, with the University of Michigan's (UoM) Consumer Sentiment Index rising to 48.9 in the flash estimate from 44.8 in May. This print came in better than the market expectation of 46.
United States UoM 1-year Consumer Inflation Expectations dipped from previous 4.8% to 4.6% in June
United States UoM 1-year Consumer Inflation Expectations dipped from previous 4.8% to 4.6% in June
United States UoM 5-year Consumer Inflation Expectation declined to 3.4% in June from previous 3.9%
United States UoM 5-year Consumer Inflation Expectation declined to 3.4% in June from previous 3.9%
United States Michigan Consumer Expectations Index came in at 49.3, above forecasts (44.3) in June
United States Michigan Consumer Expectations Index came in at 49.3, above forecasts (44.3) in June
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