The USD is little changed with all the major currencies within 0.12% of the closing level from yesterday. The high to low trading ranges are also confined.EURUSD: 38 pips USDJPY: 30 pips GBPUSD: 40 pips USDCHF: 18 pips USDCAD: 33 pips AUDUSD: 35 pips NZDUSD: 40 pipsLooking at the 3 major currency pairs - the EURUSD, USDJPY and GBPUSD - the prices are all within 0.04% of unchanged on day with modest trading ranges of less than 40 pips in each. Overnight, the Bank of Japan delivered another rate increase:BOJ raised rates 25 basis points to 1.00% Highest policy rate in more than 30 years The Bank of Japan raised its policy rate by 25 basis points to 1.0%, the highest level since 1995, while signaling that additional rate hikes remain possible as inflation pressures build. The BOJ said Japan's economy is evolving largely as expected, with the risk of a significant slowdown diminishing and inflation projected to run clearly above its 2% target. Policymakers highlighted the faster-than-expected pass-through of higher oil prices into consumer prices and warned of upside inflation risks. At the same time, the BOJ announced it will pause its bond purchase tapering program from April 2027, fixing monthly JGB purchases at around ¥2 trillion. While the move to higher rates is clearly hawkish, the decision to halt further tapering may help limit upward pressure on long-term yields. Overall, the message was that policy is still moving toward further tighteningDespite the rise, the pair remains above the 160.00 levelThe Reserve Bank of Australia also six latest interest-rate decision, decided to leave left its cash rate unchanged at 4.35%, as expected, with a unanimous decision. The RBA stressed that both headline and underlying inflation remain too high, while uncertainty around the economic outlook remains elevated, particularly due to ongoing Middle East tensions and their impact on global energy prices.The central bank warned that higher oil prices could keep inflation elevated for longer and said it remains focused on preventing those pressures from becoming embedded in the economy. While the statement retained a hawkish tone, some of the stronger inflation language from May was softened, suggesting the RBA is unlikely to raise rates again anytime soon but is also not close to considering rate cuts. The Australian dollar showed little reaction, with AUDUSD holding near 0.7050 after the decision.The FOMC rate decision will be announced tomorrow at 2 PM. The Fed is expected to keep rates unchanged at Kevin Warsh's first meeting as the head of the central bank. What will be said and released is another story. One of the themes is that he will want Fed officials to be more quiet. Warsh comes in with a dovish bias toward rates. However, he has advocated for gradually reducing the Federal Reserve's massive balance sheet (which is hawkish), reexamining the central bank's approach to inflation, and reshaping how monetary policy is communicated and implemented.On inflation, Warsh likes the Dallas Fed Trimmed Mean PCE Inflation Rate as an inflation measure. It was developed by the Federal Reserve Bank of Dallas and attempts to identify the underlying trend in inflation by removing the most extreme price increases and decreases each month before calculating the average.How it worksInstead of looking at all prices equally, as the standard PCE inflation measure does, the Dallas Fed: Ranks all PCE price changes from lowest to highest Trims away the most extreme price declines and increases Calculates inflation using the middle portion of the distribution For example, if gasoline prices jump 25% in a month or airline fares fall 15%, those extreme moves may be excluded from the calculation.The goal is to answer:"What is inflation doing beneath the noise?"Will Warsh speak to that measure in his commentary? The current trimmed mean rate is 2.3%. The Core PCE is at 3.3%.In the Middle East, President Trump stated that the Strait of Hormuz should be fully reopened by Friday, coinciding with a planned signing ceremony in Switzerland between U.S. and Iranian officials. However, reports suggest that restoring normal shipping operations could take longer, with some estimates pointing to as much as two weeks before full capacity returns.Key elements reportedly included in the framework agreement: Extension of the current ceasefire by 60 days Reopening of the Strait of Hormuz Removal of the U.S. blockade on Iranian ports Gradual normalization of energy exports Markets remain sensitive to any signs that negotiations could encounter obstacles. An interesting side note Israel Hayom US Pres. Trump is considering firing senior officials who opposed the nuclear agreement with Iran including war Sec. Pete Hegseth and CIA director John Ratcliff. HMMMM. I am not sure that will happen, but it is interesting. The major US indices are continuing to move higher with the Dow industrial average yesterday trading in closing at a new all-time high. The futures are planning a 88 point gain in the Dow 30 this morning. The S&P futures are implying a gain of 8.21 points. The NASDAQ futures are implying a gain of 67 points. Shares of SpaceX continue their run to the upside was shares currently training over $200 but off premarket highs. The current prices trading at $202.71 up 5.28% on the datain the US that market, yields are lower:2 year yield 4.0558%, -0.8 basis points.5 year yield 4.166%, -1.9 basis points10 year yield 4.445%, -2.3 basis points30 year yield 4.945%, -2.4 basis points.In other markets:Crude oil is trading down close to three dollars at $77.82 and near the low for the day. Gold is trading up $34 or 0.81% at $4343.87Silver is trading up $0.70 or 1.0% at $70.67 This article was written by Greg Michalowski at investinglive.com.

Iranian tankers pass through the Strait of Hormuz as the US lifts its naval blockadeTrump says Iran deal should be successful, reiterates Iran will never have nuclear weaponIran outlines that nuclear talks will include enrichment, stockpile, and its nuclear needsGerman economic sentiment picks up in June as US-Iran conflict simmers downOil prices extend losses and target pre-war levels amid expectations of Hormuz reopeningItaly inflation confirmed to have nudged up in MayGold avoids a complete breakdown on surprising US-Iran breakthrough as focus turns to FOMCBOJ deputy governor Uchida says that Ueda absence not a big impact on decision todayBOJ deputy governor Uchida says will continue to raise policy rate if conditions alignWhat are the main events for today?Japan finance minister says won't comment on BOJ decision until after press conferenceRBA governor Bullock: I want to be clear that inflation remains too highIntervention risks abound as the Japanese yen can't get off the floorFX option expiries for 16 June 10am New York cutRBA leaves cash rate unchanged at 4.35% in June monetary policy meeting, as expectedThe most important news in the European session was reports of Iranian tankers successfully passing through the Strait of Hormuz following the US decision to lift its naval blockade, marking the clearest sign yet that the US-Iran memorandum of understanding is translating into practical implementation. The Reserve Bank of Australia (RBA) left its cash rate unchanged at 4.35%, in line with market expectations, pausing after three consecutive rate hikes earlier in 2026. Policymakers opted to hold rates steady to assess the delayed impact of previous tightening on consumer demand, housing, and inflation. The RBA made clear that monetary policy remains restrictive and data-dependent.RBA Governor Bullock acknowledged slower growth and pressure on households but emphasized that underlying inflation remains above target and that higher fuel costs are increasingly feeding into broader prices. Her comments suggested the RBA remains prepared to hike again if inflation proves sticky. The market, on the other hand, is not pricing any more rate hikes following weak Australian data in the past weeks and the US-Iran breakthrough. Deputy Governor Uchida held the BoJ press conference on behalf of Governor Ueda and reiterated that the central bank will continue raising the rates if economic and inflation conditions evolve as expected, maintaining the normalization narrative. He showed confidence that wage growth and inflation momentum remain sufficiently strong to justify gradual tightening, supporting expectations for further rate hikes later in the year. The Japanese yen weakened due to lack of strong hawkish signals. This article was written by Giuseppe Dellamotta at investinglive.com.

Iranian oil tankers successfully passed through the Strait of Hormuz after the US lifted its naval blockade, marking one of the clearest signs yet that the Memorandum of Understanding (MoU) between the two countries is beginning to take effect.According to Iranian state-linked outlet ISNA, citing Deputy Foreign Minister officials, Iran confirmed that the US naval blockade restricting Iranian maritime movement is being lifted. The development was reinforced by reports from Al Jazeera, which confirmed that vessels were transiting the waterway and that Iranian tankers had successfully navigated the strait.The tanker passages serve as a verification mechanism for the MoU, which is expected to be signed on Friday after weeks of intense diplomacy. The latest development suggests both the US and Iran are moving from political commitments to operational implementation. The next major test will be whether the reopening becomes routine or whether Hormuz remains a controlled corridor subject to Iranian tolls, inspections, or transit restrictions. This article was written by Giuseppe Dellamotta at investinglive.com.

Iran deal should be successfulIran deal is a fair, good dealIran deal goes to a second stageWe're not investing any money in IranIran will never have a nuclear weaponAll hell will break out in Iran if Iran tries to get a nuclear weaponWe're dealing with rational people in Iran Leaders in Iran are looking to help their countryIran is now in the rear-view mirrorWe're going to get the nuclear material in IranThe deal can survive if Israel attacks LebanonI consider the Lebanon war a minor one and the Iran deal can surviveTrump said the “Iran deal should be successful” and described the agreement as “a fair, good deal”. His remarks come after the major breakthrough, with both the US and Iran confirming that the text of the Memorandum of Understanding (MoU) has been finalized and is awaiting formal ceremony in Geneva, Switzerland.Trump emphasized that the current framework “goes to a second stage”, suggesting Friday’s signing is not the end of negotiations but the beginning of an implementation period. That second phase is expected to focus heavily on verification, sanctions relief sequencing, and the future of Iran’s nuclear infrastructure. While the broad political framework appears agreed, technical details, including uranium stockpiles, enrichment limits, and inspection mechanisms, remain unresolved and are expected to dominate the next 60 days of talks. What matter for market though is the reopening of the Strait of Hormuz which is expected to return to normal traffic in the coming months.Trump has also reiterated that the US is “not investing any money in Iran” aimed at preempting criticism from people who fear the US may be offering Iran large economic concessions. The comment directly addresses speculation surrounding possible Iranian access to frozen assets or infrastructure funding tied to compliance. Trump and Vice President JD Vance have both stressed that any economic relief would be conditional and performance-based rather than an upfront financial transfer.Trump has also emphasized that “Iran will never have a nuclear weapon” repeating the central red line. He coupled that with a warning by saying that Iran would “suffer” and “all hell will break out” if Iran attempts to pursue nuclear weapons. The last comments saying that "Iran is now is the rear-view mirror" and "the deal can survive Israel attacks on Lebanon" suggest he's done with this for good and really wants to move on. This article was written by Giuseppe Dellamotta at investinglive.com.

The framework agreement for the memorandum of understanding this week can be said to be the "easy part". And that says a lot about how the next phase of talks is going to proceed, considering the circumstances.That being nuclear discussions between the two sides. And Iran is quick to outline what the key argument points will be when we get to that over the next 60 days.The first will be enrichment. As a reminder, uranium must be enriched i.e. increase its concentration in order to be useful for other purposes. For commercial usage, the enrichment purity is around 3% to 5% typically and even for medical research purposes it should be up to around 20%.The reality of the situation is that Iran possesses a huge amount highly-enriched uranium - up to 60% purity. At this level, it takes very little effort to push it to 90% where it will meet the weapons-grade threshold for a nuclear bomb.As such, one of the key demands by the US is that they want a hard cap on Iran's enrichment and preferably a complete suspension on that.The second point will be on the current enriched uranium stockpile. That ties to whatever highly-enriched uranium that Iran already possesses at its facilities. The amount is said to be in the hundreds of kilograms, which means they can easily refine them further in a quick turnaround time to produce a nuclear weapon of sorts.In that lieu, the US wants Iran to dismantle its nuclear program completely while diluting i.e. blend the uranium to safer levels, the stockpile and/or move the stockpile out of the country as an additional safety buffer.The final point is on Iran's nuclear needs. Iran is holding a hard line that enriching uranium is a sovereign right. Their justification is that the nuclear facilities built are entirely for civilian purposes. As examples, Iran is arguing that they need it for generating electricity as well as for scientific and medical research purposes.However, the US (and everyone else's) argument is that Iran does not possess the specific types of power reactors or medical facilities that would actually require 60% enriched uranium. As such, the whole point is moot as it is a poor disguise of Iran's pursuit of a nuclear weapons capability.But for Iran, giving that up would be to give up its sovereignty and any diplomatic leverage it holds in any form of negotiations with its neighbours and also "enemies".Taking all of that together, there is a big gap that needs to be bridged between the US and Iran over the next 60 days. And frankly speaking, I don't see how they will be able to manage that all of a sudden after having butted heads for so many years already.Iran will surely look to delay things by kicking the can down the road with empty baseline promises. That in exchange for further sanctions relief and more unfreezing of its assets. The only question now is, will Trump be willing to accept that or will we see the war return at some point after Iran takes him for a joy ride over the coming months? This article was written by Justin Low at investinglive.com.

Current conditions -81.0 vs -78.0 expectedPrior -77.8Outlook 10.5 vs -6.0 expectedPrior -10.2The current conditions reading might be poor, falling to its weakest since December last year. However, the good news is that the outlook reading has rebounded back to positive territory. And that likely reflects the optimism tied to the latest US-Iran developments.While German investor sentiment remains in the dumps for now, the expectation is that things should improve as the Strait of Hormuz looks to reopen at some point after the US and Iran signs off on a framework agreement.US president Trump has claimed that it will be "fully reopened" on Friday but Iran has said that they might need time to manage things as they have to also "clear off mines". Both sides will likely agree to a 30-day period to gradually reopen the waterway, all the while Iran continues to maintain control over traffic flows. This article was written by Justin Low at investinglive.com.

FUNDAMENTAL OVERVIEWThe surprising US-Iran breakthrough last Thursday triggered a selloff in crude oil as traders started to unwind the hedges and positioned for lower prices on expectations of resumption of normal traffic in the Strait of Hormuz in the coming months. As mentioned last week, the downside was more likely as the upside was capped by the risk of Fed tightening into a negative supply shock and potentially triggering a recession or Trump caving in and making a deal. We got the second scenario which is certainly better for the global economy. The natural target now should be the pre-war levels around the 70.00 handle, all else being equal. The risks in the short-term is that things between the US and Iran break down and the Strait of Hormuz remains closed, so traders will have to keep a close eye on that. CRUDE OIL TECHNICAL ANALYSIS – DAILY TIMEFRAMEOn the daily chart, we can see that crude is approaching the key 78.00 support zone. This is where we can expect the buyers to step in with a defined risk below the support to position for a rally back into the upper bound of the range around the 115.00 level. The sellers, on the other hand, will look for a break to increase the bearish bets into the pre-war gap around the 68.00 handle. CRUDE OIL TECHNICAL ANALYSIS – 4 HOUR TIMEFRAMEOn the 4 hour chart, we have a downward trendline defining the bearish momentum. If we were to get a pullback into the trendline, we can expect the sellers to lean on it with a defined risk above it to keep pushing into new lows. The buyers, on the other hand, will look for a break to increase the bullish bets into new highs.CRUDE OIL TECHNICAL ANALYSIS – 1 HOUR TIMEFRAMEOn the 1 hour chart, we have another minor trendline defining the bearish momentum on this timeframe. If we get a pullback into the gap, we can expect the sellers to step in to target a break below the 78.00 support and extend the drop into the 68.00 handle next. The buyers, on the other hand, will look for a break higher to increase the bullish bets into the next trendline around the 90.00 handle. The red lines define the average daily range for today. UPCOMING CATALYSTSTomorrow, we have the FOMC rate decision. On Thursday, we get the latest US Jobless Claims figures. On Friday, the US-Iran “peace deal” is expected to be signed. This article was written by Giuseppe Dellamotta at investinglive.com.

Prior +2.7%HICP +3.2% vs +3.3% y/y prelimPrior +2.8%More to come.. This article was written by Justin Low at investinglive.com.

FUNDAMENTAL OVERVIEWAfter the surprising US-Iran breakthrough on Thursday, gold has erased all last week’s losses as traders pared back rate hike bets on expectations of lower oil prices and easing inflation concerns. In the short-term, the focus continues to be on this new development, so we can expect the bullish bias to hold (all else being equal). Looking ahead, the FOMC decision tomorrow could be a major catalyst.The Fed is widely expected to keep interest rates unchanged and remove the easing bias from the statement. At this meeting, we will also get the Summary of Economic Projections (SEP) where inflation is expected to be revised higher while unemployment lower in the short-term. The focus will be mostly on the dot plot which is expected to show no cuts this year. All of this is expected and already priced in.We can expect gold to get a significant boost if the Fed maintains the easing bias and/or one rate cut by year-end. The hawkish surprise could be the Fed signalling one or more rate hikes by year-end in which case we can expect gold to sink. Looking ahead, the risk is that negative supply shock caused by the US-Iran war turns into a positive demand shock as the conflict ends that boosts economic activity further requiring rate hikes anyway. GOLD TECHNICAL ANALYSIS – DAILY TIMEFRAMEOn the daily chart, we can see that gold avoided a complete breakdown after the surprising US-Iran breakthrough. The price has risen above the broken upward trendline opening the door for a bigger pullback into the major downward trendline. If the price gets there, we can expect the sellers to lean on the downward trendline with a defined risk above it to position for a drop into new lows. The buyers, on the other hand, will look for a break to extend the rally into the 5,400 level next. GOLD TECHNICAL ANALYSIS – 4 HOUR TIMEFRAMEOn the 4 hour chart, we have the 4,350 resistance zone and the minor downward trendline that the price will need to break to open the door for a bigger move into the 4,700 level next. The sellers will likely step in around the resistance and/or the trendline with a defined risk above the trendline to keep pushing into new lows. The buyers, on the other hand, will look for breaks to increase the bullish bets into the major trendline around the 4,700 level.GOLD TECHNICAL ANALYSIS – 1 HOUR TIMEFRAMEOn the 1 hour chart, we can see the price started the week with a positive gap and stalled at the resistance. The gap might act as support now. If we get a pullback into the 4,250 level, we can expect the buyers to step in with a defined risk below the support to position for a rally into the 4,700 level next. The sellers, on the other hand, will want to see a break lower to pile in for a drop into new lows. The red lines define the average daily range for today. UPCOMING CATALYSTSTomorrow, we have the FOMC rate decision. On Thursday, we get the latest US Jobless Claims figures. This article was written by Giuseppe Dellamotta at investinglive.com.

Cannot reveal governor Ueda's viewBut his broader view remains the same as he has discussed beforeUeda's hospitalisation is short-term, don't see any impact on monetary policy conductWell, it has only been about a week since Ueda took his leave of absence. So, it is a fair assumption to think that the decision today was already well accounted for. That especially as the central bank has been managing that with their communication over the past month or so.It will be more interesting to see what will happen after the summer. The BOJ is not expected to make any policy changes in July but the odds of another rate hike are closer to a coin flip by the time we get to the October meeting. This article was written by Justin Low at investinglive.com.

Further rate hikes will depend on economic activity, prices and financial conditionsThere is risk of underlying inflation deviating upwards to the level above the price targetImportant for underlying inflation to stabilise around 2% levelUncertainties remain with regards to situation in the Middle EastNeed to pay close attention to how said developments will affect economy, pricesPace of any future tightening will also depend on Middle East developmentsNeed to examine likelihood of realising baseline scenario in considering timing, pace of future rate hikesWage-price mechanism has taken root, aligned with 2% price target in recent yearsWell, it took them long enough to finally deliver this rate hike that was arguably pending since January. At the time, the BOJ thinking was to wait for the result of the spring wage negotiations to justify their decision. But then came along the US-Iran conflict. Dum, dum, dum.As such, that made the optics of this decision look much worse than it does - at least relative to the situation with Japan's economy and fiscal position.The only good news now is that hopefully lower oil prices will help alleviate some of the pain faced by households. And more importantly, hopefully that will help with the bottom line for Japanese firms, especially the small-to-medium enterprises. Otherwise, they will be forced to eat the costs and that may threaten to deliver weaker wage growth for the coming fiscal year.USD/JPY continues to trade at 160.20, little changed from before Uchida began speaking. This article was written by Justin Low at investinglive.com.

EUROPEAN SESSIONIn the European session, we don't have much on the agenda other than a couple of low tier releases like the Italian final CPI and the German ZEW index. The data won't change anything for the ECB, so the market reaction will likely be muted. Moreover, we can expect sentiment indices like the ZEW or PMIs to improve in the next months on easing rate hike expectations and lower energy prices. AMERICAN SESSIONIn the American session, the only highlight is the US housing starts and building permits report. This is not market-moving data and won't change anything for the Fed. The markets are now focused on the positive effects stemming from the US-Iran deal and the official end of the war. Expectations of lower oil prices are easing inflation concerns and leading to a dovish repricing in interest rates. The short-term effect is certainly positive for growth and risk assets like stocks are the main beneficiaries. Looking ahead, the question will be whether this negative supply shock turns into a positive demand one where economic activity strengthens significantly and keeps inflationary pressure high eventually forcing the Fed to intervene with rate hikes. This is likely going to be the next tail risk for markets.CENTRAL BANK SPEAKERS10:55 GMT/06:55 ET - ECB's Escriva (neutral - voter)13:10 GMT/09:10 ET - ECB's Lane (neutral - voter)19:05 GMT/15:05 ET - ECB's Sleijpen (neutral - voter) This article was written by Giuseppe Dellamotta at investinglive.com.

She says that she won't offer any comments on the BOJ decision until after the press conference by deputy governor Uchida later.As a reminder, BOJ governor Ueda wasn't present at this meeting as he was admitted to the hospital last week here. As such, Uchida will also be filling in for the BOJ press conference at the bottom of the hour.Anyway, it is a fair assumption that Katayama was questioned about if the ministry of finance might feel compelled to act given the market response to the BOJ decision. USD/JPY continues to trade above 160.00, in line with where they decided to intervene the last time at the end of April.And as a reminder, that also came two days after the BOJ decision at the time. This article was written by Justin Low at investinglive.com.

Accessing US equity markets remains a structurally broken process for most international participants. Non-US residents routinely face steep capital minimums, complex cross-border wire transfers, and exclusionary onboarding practices from legacy brokerages. These barriers effectively lock a massive demographic out of the world's most liquid equity markets. Addressing this inefficiency requires a shift in infrastructure. Fractional shares funded directly through stablecoin rails present a practical approach to reducing these barriers. Bypassing traditional fiat bottlenecks allows capital to move efficiently across borders, establishing a more equitable framework for international equity participation.Lowering the Capital Barrier for Global ParticipantsGlobal wealth disparity is often reinforced by the mechanics of the financial system itself. Data from a recent JPM report indicates that while individuals control roughly $150 trillion in global wealth, retail portfolios remain severely under-allocated to alternative and complex assets, hovering around 5%.High minimum ticket sizes and structural friction are the primary culprits. Traditional brokerages rarely cater to micro-investing from emerging markets because the unit economics of processing international fiat transfers simply do not work.Binance is aiming to lower entry barriers by launching US equities trading with fractional shares starting at just $5. This model allows global users to access over 7,000 US-listed stocks and ETFs without the traditional capital barriers. The fee structure reflects an emphasis on accessibility, featuring zero commission trading alongside a flat $0.35 platform fee for orders under $350, or a 10 basis point spread for larger volumes.This approach directly targets the exclusionary nature of legacy finance. Yi He, co-founder and Co-CEO of Binance, frames the initiative around a broader objective, "We have set out to reach the next 3 billion users, and to do that, we need to make it simpler for users to access opportunities across asset classes, diversify their portfolios, and move more easily between traditional investing and on-chain finance. That is what a multi-asset financial super app should help people do."Stablecoin Funding: Bypassing the Traditional Banking PipelineThe logistical challenge of funding an international brokerage account usually involves SWIFT transfers. These transactions carry high fees and take days to settle. Operating through stablecoin rails bypasses the traditional banking pipeline entirely. Binance users can now execute US equity purchases using USDC, USDT, and BNB. Integrating digital assets as the funding mechanism eliminates the delay between capital allocation and market execution.This operational advantage serves crypto-native users in emerging markets who lack access to US dollar banking but hold stablecoins. The shift toward digital settlement is gaining significant institutional recognition. A Standard Chartered analysis projects that tokenized assets will reach $4 trillion by 2028, with stablecoin market capitalization hitting $2 trillion as retail and institutional participants increasingly rely on them for cross-border settlement.Using stablecoins to fund equity purchases effectively creates a parallel financial pipeline. The process connects isolated digital wealth with traditional equity markets, allowing participants to purchase shares of major companies without ever converting their capital back into fiat currency through a local bank. Sale proceeds settle directly in USDC, keeping the capital fluid and ready for deployment within the digital asset ecosystem.Extended Access and the 24/5 Trading StandardTime zone constraints present another structural disadvantage for international participants. The standard New York trading session caters poorly to users in Asia or the Middle East. Binance addresses this by offering 24/5 trading for select equities, giving global users the flexibility to react to market movements during their local hours.Consolidating crypto and traditional equities into an integrated platform removes the friction of managing siloed applications. This convergence aligns with broader market expectations for constant market access. A Citi Institute study estimates that if just 10% of US retail investors adopt on-chain solutions by 2030, it could generate $2.6 trillion of demand for tokenized public equities.Binance intends to bridge this gap further with the upcoming launch of bStocks. These tokenized securities will represent select US stocks and ETFs as BEP-20 tokens on the BNB Chain, issued through an Abu Dhabi Global Market regulated entity. Providing a 1:1 conversion between traditional shares and tokenized assets establishes the infrastructure for a programmable, always-on trading environment.The Path Toward Unified Market InfrastructureMerging $5 fractional shares with stablecoin settlement rails indicates a broader shift toward a unified global financial system. The current divide between digital assets and traditional equities forces users to navigate inefficient and disconnected networks. Integrating these environments enables the market to move toward a more inclusive architecture. Offering zero-commission fractional trading funded by digital dollars bypasses the legacy constraints that have historically marginalized international participants. This development points toward a future where geographic location and local banking infrastructure no longer dictate a person's ability to participate in global wealth creation. This article was written by IL Contributors at investinglive.com.

Not ruling out further tightening if neededUnderstand that current situation is difficult for householdsBut that is why it is important for us to get on top of inflationReports of a peace deal in the Middle East is good newsFlow of data has been consistent with our expectationsMore comments from the Q&A session:We already had an inflation problem before the Middle East conflictIf oil prices settle down and supply chains settle, that will help with inflation so that it doesn't get super-chargedBut we still need to ensure that the inflation problem before the war is addressedUnless we have low and stable inflation, we won't have a good economyPeople should not be surprised to see a slowdown in the economy as we address inflationThis has to happen, we have to get inflation back downUnderlying inflation is "dead on where we thought it would be"Cannot rule out that if inflation doesn't respond to the way we expect it to do, then we might have to do moreThere's nothing from Bullock that really stands out too much.The signal is clear that the RBA is stepping to the sidelines in wanting to assess the overall situation further for now. As for their next step, it will depend on how economic developments play out.She is not going to explicitly rule out rate hikes nor will she choose to play down the need for rate cuts next year. And that fine line is what the central bank will be keeping as they move forward with policy setting for the months ahead.As things stand, traders are pricing in just ~13 bps of rate hikes by year-end. However, that pricing shifts back to pricing in ~1 bps of rate cuts by August next year. This article was written by Justin Low at investinglive.com.

USD/JPY has been poking and prodding at levels above 160.00 since last week. And traders are yet to find much conviction to take things to the next level. Intervention risks are very much heightened at this stage, with current levels being where Tokyo last decided to take action at the end of April.To their part, Japan's ministry of finance had been arguably waiting to see how markets will respond to the BOJ decision today. That was part of the playbook for April, so will it be the same this time around? Today, the central bank delivered a 25 bps rate hike as expected in bringing interest rates to 1% while also announcing a pause to their bond tapering from April next year.But so far, there doesn't seem to be much pressure being alleviated off the yen currency with USD/JPY keeping in the realms above 160.00 still.Despite more optimistic developments from the US-Iran conflict, the currency pair continues to stay underpinned for the most part.The yen will only be able to find relief once there is actual movement along the Strait of Hormuz. Otherwise, it's hard to see how things will change for the Japanese economy in reality. Even if oil prices may reflect one thing, it's a different story when supply remains an issue and consumer price pressures continue to grow.That not to mention that the Takaichi trade is still running in the background, with the war making things worse as the government had to compile an extra budget to offer fuel subsidies. And with higher rates now, the fiscal pressure is certainly mounting.If the yen is not able to get off the floor even on any good news, that's not a positive sign whatsoever.It feels like only a matter of time before the ministry of finance has to decide to step in again. They stepped in two days after the BOJ decision in April when USD/JPY raced above 160.00. So, there's some precedent to them acting after markets don't respond to the central bank decision as they would hope.But even then, it seems like any intervention efforts will just be a mere speed bump or a temporary diversion.Unless the fundamentals really change and the Strait of Hormuz actually reopens properly, the path of least resistance is still for a move higher in USD/JPY. This article was written by Justin Low at investinglive.com.

There are just a couple of expiries to take note of on the board, as highlighted in bold below.That being for EUR/USD at the 1.1540 and 1.1600 levels. The expiries don't tie to any technical significance but could limit price movements for the currency pair in the session ahead at least.The ones at 1.1600 especially could help to keep a lid on price action until we get to US trading, with the dollar having swung back to a firmer position in overnight trading.The prevailing risk mood is also more tepid and tentative today, following the gains in Wall Street yesterday. So, that's not leaving all too much to work with as we look to European trading later.Besides that, just be wary on USD/JPY as yen-tervention risks will now be heightened as the yen can't get off the floor even after the BOJ decision.For more information on how to use this data, you may refer to this post here. This article was written by Justin Low at investinglive.com.

Prior 4.35%Decision today was unanimousHeadline and underlying inflation are still too highHeightened uncertainty remains on economic and inflation outlookResolution of the conflict in the Middle East is at an early stageThere are plausible scenarios where inflation is higher, activity lower than envisaged under the May forecastsGlobal oil supply issues will take some time to resolveThat will maintain upward pressure on global energy prices and inflationInflation is likely to remain high for some timeRBA focused on ensuring that inflation does not become embedded as impact from higher oil prices pass throughAppropriate to leave the cash rate target unchanged while assessing the response to previous interest rate rises and the impact of the oil supply disruptionFull statementThe decision is very much expected as the RBA signals that they are likely to stay on hold for some time now.The more important detail is the language on inflation I would say, and that suggests the central bank will be in no hurry to act next again. That especially as Middle East developments are also looking up, at least for now, with the US-Iran framework agreement in focus.Whether or not the Strait of Hormuz reopening will really help and by how much, is a question for another day for markets and the world. That especially as we still don't know what the real traffic flow will be and not the one that the US and Iran will look to advertise and upsell in this deal.Circling back to the RBA, they used a couple of these terms in May:"Likely to have second-round effects on prices for goods and services more broadly""Inflation is likely to remain above target for some time and that the risks remain tilted to the upside"Both descriptions of the inflation outlook were removed from the June statement and reworded as such:"Higher fuel prices.. passing through to the prices of other goods and services, so inflation is likely to remain high for some time""Inflation is still too high" while emphasising on having raised the cash rate three times already this yearAUD/USD sits at 0.7050 on the day, little changed from before the decision. A non-event as you would expect. So, let's wait to hear from Bullock later next. This article was written by Justin Low at investinglive.com.

In May, the RBA raised the cash rate by 25 bps to 4.35% then signaled that they would be pausing here.As a reminder, the central bank has been one of the early movers in having raised interest rates since February. So far this year, they have delivered 75 bps of rate hikes.The decision there was not solely tied to Middle East developments, as inflation pressures had been relatively stubborn in Australia.So, the surge in oil and gas prices after just adds to the mix and reaffirms their decision to tighten policy further in recent months.But after three consecutive decisions in raising the cash rate, they are due for a pause this month. The signal from the May decision was this statement passage:"Having raised the cash rate three times, monetary policy is well placed to respond to developments and the Board is focused on its mandate to deliver price stability and full employment."Markets are also not pricing for any short-term changes by the RBA currently. And that view is reinforced by the US-Iran framework agreement this week. That sits well with the RBA baseline forecast that "the conflict is resolved soon and fuel prices are to decline".The odds of a rate hike are closer to a coin flip only by the time we get to November/December. So, expect the decision today to be more or less a non-event. This article was written by Justin Low at investinglive.com.

BOJ hikes to 1%, pauses bond taper from April 2027 and flags inflation overshoot riskBank of Japan 25bp rate hike to 1%, as widely expectedGoldman cuts Brent forecast to $80 for 2026, $75 for 2027 on Hormuz dealChina May data: industrial output beats but retail sales post first fall since 2022BOJ set to hit 1% but vote split, bond taper pause and July signals are the real storyChina data May 2026: Industrial output +4.5% y/y (expected +4.2%)China house prices May 2026 -3.5% y/y (prior -3.5%)Oil price path to the $60s pre-war levels could take years despite Hormuz deal, analystsPBOC sets USD/ CNY mid-point today at 6.8108 (vs. estimate at 6.7605)JGBs steady, Nikkei eases from record high as BOJ rate decision loomsGM in talks with Lockheed to make weapons parts as Pentagon seeks to restockAnalysts back Iran deal as oil price catalyst but warn peace dividend won't be instantBOJ hike certain, RBA and Fed on hold as Iran deal reshapes central bank outlookNew Zealand data: May 2026 Food Price Inflation +1.0% m/m (prior flat at 0%)Hedge funds dust off pre-war playbooks as Iran deal reshapes market outlook - noodle pivotBarclays sees gold hitting $4,900 as Iran-driven correction fadesBank of Japan today - preview - set to lift rates to 31-year high as Iran deal clouds pathExplosions heard in the Strait of HormuzHormuz reopening road map: mines, insurance and stranded ships slow the path for oil flowHormuz reopening framework a fragile first step, says S&P Global-BOJ hikes to 31-year high as Iran deal lifts regional sentimentBank of Japan raised its policy rate to 1%, a 31-year high, and announced a pause in JGB tapering from April 2027; the yen barely moved with USD/JPY holding above 160.00The Nikkei and Topix dipped earlier in the session before bouncing on the BOJ decision headline; South Korean shares extended gains tracking Wall Street's Iran deal rallyGoldman Sachs cut its Q4 2026 Brent forecast to $80 from $90 and its 2027 average to $75 from $80, bringing forward Gulf export normalisation to end-JulyChina's May data showed industrial output beating at 4.5% but retail sales posting their first annual decline since the pandemic, down 0.6%, while fixed asset investment deteriorated sharplyChina's new home prices fell at a slightly faster monthly pace in May, with the property sector continuing to grapple with fragile demand despite tentative stabilisation in larger citiesThe Bank of Japan delivered its widely anticipated rate hike on Tuesday, lifting its policy rate to 1% from 0.75% and taking borrowing costs to their highest level since 1995. The decision was accompanied by a confirmation that the BOJ will pause its programme of monthly JGB purchase reductions from April 2027, fixing the buying pace at around 2 trillion yen per month. The inflation outlook was characterised in notably direct terms, with the BOJ flagging upside risk to its 2% CPI target and projecting a year-on-year increase clearly above that level in the period ahead.The yen's reaction was muted. USD/JPY held above 160.00 in the wake of the decision, a reminder that the market has long argued the currency needs real economy momentum and a credible path of sustained tightening rather than incremental moves to stage a durable recovery. The Nikkei and Topix had drifted lower ahead of the announcement before bouncing on the decision headline, with both indices ending the session off Monday's record highs.Broader regional sentiment remained constructive, underpinned by the US-Iran peace framework. South Korean shares extended the prior session's gains, tracking Wall Street's overnight rally as the deal continued to lift risk appetite across Asian markets.Goldman Sachs added further weight to the oil market's repricing, cutting its Q4 2026 Brent forecast to $80 per barrel from $90 and its 2027 average to $75 from $80. The bank brought forward its assumption for Persian Gulf export normalisation to end-July from end-August, reflecting growing confidence in the pace of Hormuz reopening. It was Goldman's second downward revision to its oil price forecasts in a week.China's data gave markets more to digest. Industrial output rose a stronger-than-expected 4.5% in May, buoyed by AI-driven export demand, but retail sales fell 0.6% year on year, their first decline since the pandemic. Fixed asset investment contracted 4.1% in the year to date, well below forecasts, and property investment extended its deterioration with new home prices falling at a slightly faster monthly pace. Larger cities showed tentative signs of stabilisation but the broader sector remains under pressure from weak household borrowing appetite and subdued consumer confidence. This article was written by Eamonn Sheridan at investinglive.com.