News

S&P 500: Tech-led swings as AI exuberance cools – Deutsche Bank

Deutsche Bank’s Jim Reid describes a volatile session for US equities, with a sharp intraday tech sell-off largely reversing by the close. The S&P 500 and NASDAQ finished modestly lower, while semiconductors underperformed.

Source  Fxstreet1781075958

Austria Industrial Production (YoY) fell from previous 1.7% to 0.6% in April

Source  Fxstreet1781074811
Euro strengthens against Japanese Yen due to ECB rate hike odds

EUR/JPY extends its gains for the third successive day, trading around 185.30 during the early European hours on Wednesday.

Source  Fxstreet1781074430
Indonesian Rupiah: BI tightening to defend IDR – Commerzbank

Commerzbank’s Charlie Lay reports that Bank Indonesia delivered a surprise off-cycle 25 bp hike to 5.50%, reinforcing its focus on Rupiah stability through higher rates and FX intervention.

Source  Fxstreet1781073686
Equities: Tech-led pullback weighs on indices – Danske Bank

Danske Research Team notes that major equity indices fell, led by weakness in the tech sector, which has dropped about 7% since Friday despite a modest rebound on Monday.

Source  Fxstreet1781073143

Sweden New Orders Manufacturing (YoY) up to 6.3% in April from previous -7.3%

Source  Fxstreet1781071209

Sweden Industrial Production Value (YoY): 7.1% (April) vs 3%

Source  Fxstreet1781071205

Sweden Industrial Production Value (MoM) rose from previous -2% to 4.2% in April

Source  Fxstreet1781071204
USD/CNH Price Forecast: More downside likely below 6.7500

The USD/CNH pair trades slightly lower to near 6.7750 during the early European trading session on Wednesday. The pair faces selling pressure due to continued outperformance by the Chinese Yuan (CNY), being a trade surplus economy.

Source  Fxstreet1781070799
BoJ expected to raise interest rates to 1.0% in June meeting - Reuters poll

A Reuters poll showed on Wednesday that roughly two-thirds of economists expect the Bank of Japan (BoJ) to hike the policy rate to 1.50% by the second quarter (Q2) next year. That brings forward the expectations of such a target, which was projected for Q3 next year in May.

Source  Fxstreet1781068406
India Gold price today: Gold falls, according to FXStreet data

Gold prices fell in India on Wednesday, according to data compiled by FXStreet.

Source  Fxstreet1781066213

Netherlands, The Manufacturing Output (MoM) declined to 1.4% in April from previous 2.8%

Source  Fxstreet1781065802

Indonesia Consumer Confidence dipped from previous 123 to 120.9 in May

Source  Fxstreet1781062499

China Consumer Price Index (MoM) came in at -0.1%, above expectations (-0.2%) in May

Source  Fxstreet1781055018

China Producer Price Index (YoY) came in at 3.9%, above expectations (3.8%) in May

Source  Fxstreet1781055016

China Consumer Price Index (YoY) below forecasts (1.3%) in May: Actual (1.2%)

Source  Fxstreet1781055016
Australian Dollar declines ahead of China CPI data

AUD/USD extends its losses for the second successive day, trading around 0.7020 during the Asian hours on Wednesday. Traders will likely await the release of Consumer Price Index (CPI) and Producer Price Index (PPI) data for May from China, Australia’s close trading partner, due later in the day.

Source  Fxstreet1781052634

Japan Producer Price Index (MoM) above forecasts (0.5%) in May: Actual (0.9%)

Source  Fxstreet1781049002

Japan Producer Price Index (YoY) above forecasts (5.5%) in May: Actual (6.3%)

Source  Fxstreet1781049002
US military launches strikes on Iran to retaliate for downed helicopter

The United States (US) officials said that the second round of strikes in Iran is taking place now, targeting air defense and radar systems, Axios reported early Wednesday.

Source  Fxstreet1781048690

Argentina Industrial Output n.s.a (YoY) declined to -2.8% in April from previous 5%

Source  Fxstreet1781031624

United States 3-Year Note Auction climbed from previous 3.965% to 4.192%

Source  Fxstreet1781024741
US President Trump: US must react to Iranian assault

United States (US) President Donald Trump claimed that last night, Iranians shot down a US military Apache helicopter while patrolling the Strait of Hormuz.

Source  Fxstreet1781023873

United States 52-Week Bill Auction climbed from previous 3.65% to 3.75%

Source  Fxstreet1781019146
Indonesian Rupiah: Stability relies on tighter BI policy – UOB

UOB’s Enrico Tanuwidjaja and Vincentius Ming Shen note that Indonesia’s FX reserves fell further in May as Bank Indonesia (BI) stepped up interventions to support the Rupiah, which has weakened sharply year-to-date.

Source  Fxstreet1781017218
Canada: Fragile economy under trade and energy strain – Rabobank

Rabobank describes Canada’s economy as fragile, with back-to-back quarterly contractions marking a technical recession and weak investment and trade dragging growth.

Source  Fxstreet1781015689
Chinese Yuan: Uptrend against US Dollar intact amid trade surplus – BBH

Brown Brothers Harriman’s (BBH) Elias Haddad reports that USD/CNH is falling toward support at its June multi-year low as broad Dollar weakness combines with China’s stronger-than-expected trade surplus, driven by AI-related exports and semiconductor imports.

Source  Fxstreet1781014950
South Korean Won: Policy support aims to stabilise Won – Commerzbank

Commerzbank’s Charlie Lay explains that Korean authorities announced new measures to support the Korean Won, including tighter oversight of offshore FX derivatives, scrutiny of suspected misconduct, and expanded FX hedging by the National Pension Service via USD forward selling.

Source  Fxstreet1781013860

United States Wholesale Inventories above forecasts (0.5%) in April: Actual (0.6%)

Source  Fxstreet1781013604

United States Existing Home Sales (MoM) came in at 4.17M, above expectations (4.07M) in May

Source  Fxstreet1781013603
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