Market Minutes

Read snapshots of the latest market news

Yen plunges to lowest level in 38 years

The U.S. dollar climbed to a peak of 160.82 yen, the highest since December 1986 while gold prices fell below $2,300.

Japan consider intervention with USDJPY near 160

The BoJ is considering market intervention as USD/JPY nears 160. Rising inflation risks and yen depreciation were key discussion points in the latest policy meeting, with potential rate hikes and adjustments to bond purchases on the table.

S&P 500 at ATH, UK growth remains flat

Asian markets face selling pressure; Chinese indices weaken post CPI inflation data release

Gold drops as China’s PBOC halts buying

China's PBOC reported unchanged gold holdings in May, ending an 18-month buying streak.

Stronger-than-expected job growth pressures gold

Market expects less dovish stance from the Federal Reserve

ECB cuts rates to 3.75%, future moves unclear

The ECB cuts its deposit rate to 3.75% but leaves future policy moves uncertain amid an improved inflation outlook.

Bank of Canada cuts rates for first time in four years

The Bank of Canada reduced its key interest rate by 25 basis points to 4.75% in June 2024, marking an end to 11 months of peak rates. The decision follows lower-than-expected GDP growth and signs of easing inflation.

PCE matches expectations as gold holds steady around $2,360

PCE at 2.7% YoY, matching both expectations and the previous month

US Q1 GDP growth revised to 1.3%

Futures trimmed losses after US first-quarter GDP was revised down to 1.3%, as expected. Initial jobless claims rose to 219,000.

Gold faces pressure in Asian session

Market participants are eagerly awaiting new US economic data and upcoming speeches from Federal Reserve policymakers for further insights on future policy directions