Market News

•  Asian Stock Markets : Nikkei down 0.2%, Shanghai Composite down 0.45% Hang Seng down 1.68% ASX down 1.20%
• Commodities : Gold at $4,138.87 (-1.13%) Silver at $63.80 (-3.09%), Brent Oil at $79.52 (-0.30%), WTI Oil at $76.51 (-0.41%)
• Rates : US 10-year yield at 4.463, UK 10-year yield at 4.7610, Germany 10-year yield at 2.9310

• (GBP) Official Bank rate 3.75%  to 3.75%  expected

Asia-Pacific markets traded mixed on Friday, with South Korea leading regional gains as technology stocks surged. The benchmark Kospi extended its record-setting rally, supported by strong advances in Samsung Electronics and SK Hynix, both of which reached all-time highs. Investors also monitored…

IC Markets Global – Europe Fundamental Forecast | 19 June 2026

What happened in the Asia session?

A combination of persistent U.S. dollar strength, renewed pressure on the Japanese yen, and ongoing geopolitical concerns in the Middle East. The yen’s slide toward multi-decade lows kept intervention fears at the forefront of market discussions, making USD/JPY and yen crosses the primary focus for traders. At the same time, elevated oil prices continued to influence inflation expectations and risk sentiment across the region.

What does it mean for the Europe & US sessions?

This week’s Federal Reserve meeting, the strength of the U.S. dollar, falling oil prices, and the implications for global inflation and interest-rate expectations. The Fed…

US Markets Rally as Strait Opens Again – Nasdaq up 1.9%

US equity markets pushed higher overnight, with technology stocks leading the advance as investor sentiment continued to improve following the reopening of the Strait of Hormuz. The Nasdaq was the standout performer, rallying 1.91% to close at 26,517, while the S&P 500 gained 1.08% to finish at 7,500. The Dow Jones added a more modest 0.14%, ending the session at 51,564.

In bond markets, Treasury yields pulled back after Wednesday’s post-Federal Reserve rally, with the 2-year yield falling 0.8 basis points to 4.177% and the benchmark 10-year yield declining 3.4 basis points to 4.453%. Despite the retreat in yields, the US dollar continued to strengthen against the major…

IC Markets Global – Asia Fundamental Forecast | 19 June 2026

What happened in the U.S. session?

The overnight U.S. session was dominated by a hawkish Federal Reserve hold. While the Fed kept rates unchanged, stronger retail sales, resilient labor market conditions, and updated Fed projections reinforced expectations that U.S. monetary policy could remain restrictive for longer. As a result, the U.S. dollar and Treasury yields moved higher, equities weakened, gold came under pressure, and oil traders balanced geopolitical support against the headwind of a stronger dollar.

What does it mean for the Asia Session?

The aftershocks of the FOMC decision, BoJ normalization spillovers, and the evolving US–Iran geopolitical unwind through the…

• Prior -1.3%
• Retail sales +xx% vs +1.9% y/y expected
• Prior +0.0%
• Retail sales ex autos, fuel xx% vs +0.4% m/m expected
• Prior -0.4%
• Retail sales ex autos, fuel +xx% vs +3.3% y/y expected
• Prior +1.1%

• Japan CPI stays muted in May as subsidies mask building inflation pressure
• Oil and US dollar rising on news that Vance cancelled his trip to negotiate with Iran
• BoJ deputy governor says delaying on price risks could cause long-term economic damage
• Vance cancels his trip to Switzerland
• Japan finmin says prepared to take decisive action on speculative FX moves
• BoJ's Deputy governor warns yen moves now carry bigger inflation punch than in the past
• China says Australian beef imports hit 100% of quota on June 18th
• BoJ April minutes: Three members wanted to move in April; the rest caught up by June
• Japan May inflation data: Headline 1.5% y/y (expected 1.5%) Core 1.4% (expected 1.4%)
• UK consumer confidence masks growing cracks beneath steady headline
• New…

US Vice President JD Vance has canceled his planned trip to Switzerland for talks with Iran, citing unresolved logistics and uncertainty surrounding the next round of negotiations.

First reported by CNN then confirmed by the Whiote House.

This stumble so early in the peace process has sent a shudder through markets, continued at this stage, with the USD and oil on the rise.

One of those headlines that''' trigger a wobble down, will soon pass.

I'll have more to come on this separately.

For now, just the data:

National CPI:

ex Food, Energy (YoY) (May) 1.8% y/y ... aka Core-core and the closest to the US measure of core inflation:

• expected 1.9%

ex Fresh Food (YoY) (May) 1.4% ... aka Core:

• expected 1.4%, prior 1.4%

Headline 1.5%

• expected 1.4%, prior 1.4%

Sterling faces a modest negative undercurrent from the data, not from the headline number, which came in marginally better than forecast, but from the sub-index deterioration that points to softening domestic demand ahead. Major purchase intentions sitting at joint-lowest levels since January 2025 is a quiet signal for retailers and discretionary spending. For the Bank of England, the youth pessimism data adds a nuanced wrinkle: a headline that holds steady gives little cover for either hawks or doves, but the underlying trend is clearly not improving.

--- UK GfK consumer confidence held at -23 in June, matching May and beating the Reuters poll forecast of -24, but sub-indices revealed deteriorating sentiment among younger consumers and on…

I'll have more to come on this separately.

Just the data, for now:

New Zealand Balance of Trade (May) 800mn surplus

• expected +875mn, prior +1.92bn

Exports 8.88bn

• prior 8.62bn

Imports 8.08bn

• prior 6.7bn