This article has been translated from English to Gen Z Slang.

Ayo, the market was acting all shady on Wednesday, while folks were trippin’ over Fed vibes and some Middle East drama. 💣📉

Stocks played it chill, gold took an L, oil slipped, and the U.S. dollar made a late-stage comeback after Fed O.G. Powell dropped some mad inflation warnings. 🚀

Here are the tea drops you probs snoozed on in the last trading sessions! 👀

Headlines:

  • Australia's Westpac vibe for May: Womp womp, -0.1% m/m (0.2% m/m foresight; 0.0% m/m last round)
  • UK retail stats for May: 4.3% y/y (they were hoping for 4.7% y/y; 4.5% y/y was last time); 0.2% m/m (planned for 0.6% m/m; before 1.7% m/m)
  • UK CPI for May: 0.2% m/m (0.3% m/m dream; 1.2% m/m last month); 3.4% y/y (aimed for 3.5% y/y; 3.5% y/y from the past); Core CPI steady at 3.5% y/y
  • Iran’s Ayatollah Ali Khamenei sent a warning to the U.S.: "You gonna take a major L if you try us, bruh!"
  • Euro fam's cash flow for April: 19.3B (was eyeing 59.5B; last time was 60.1B)
  • Euro Area CPI for May called a truce at 1.9% y/y (dead on their forecast); Core CPI stayed low-key at 2.3% y/y
  • U.S. housing starts crashed for May: -9.8% m/m (playing way under forecast); standing at 1.26M
  • U.S. building permits dated for May: 1.39M (fell short of dreams); -2.0% m/m in the loser column
  • U.S. initial jobless deets for June 14: Stuck at 245.0k (ppl had it pegged for 255.0k)
  • U.S. EIA crude oil vibes for June 13 said nope with -11.47M (had a leaner past at -3.64M)
  • FOMC Kept Rates On Chill As Expected, USD Pumping After Powell's Presser
  • POTUS Trump’s thoughts: "Fed rates gotta drop 2.5 points, like yesterday!"
  • Trump Spitzed some outreach ideas for Iran amongst hype, Tehran said "nah fam."
  • Trump to Israel’s Netanyahu: “Don't stop, won’t stop” with airstrikes; handed Iran the "ultimate ultimatum." 🤨

Broad Market Price Action:

Dollar Index, Gold, S&P 500, Oil, U.S. 10-yr Yield, Bitcoin Overlay

Dollar Index, Gold, S&P 500, Oil, U.S. 10-yr Yield, Bitcoin Overlay Chart by TradingView

Markets were treading light, stuck in the Fed's no-chill zone and Middle East telenovela. EU stocks came in feeling themselves but later went “meh.” Meanwhile, S&P 500 futures started lit, only to fizzle like soda. Bruh, it was lowkey a no risk-taking kinda day. 😌

Gold took a major L, slid down to $3,365 as its status hit 'meh' after FOMC took the stage. Powell warned peeps about hawkish inflation, and gold was like, "I'm outta here." 😅

Oil played limbo, dropping to $74.85. Even though tension's still brewing in that Hormuz neighborhood, traders are over The Drama™ costs. Treasury yields were like, "Nah, I'm good," chilling at 4.39% despite Powell's firm vibes. 🤷‍♂️

Bitcoin was chilling just under $105k, trying to mind its own biz. But crypto peeps found a ray of hope after the GENIUS Act got passed. The glow-up for this $256B stablecoin market hit right when things were feeling uncertain. 🚀💸

Bitcoin also had a dip, dropping to $104,500 from last week's altitude near $109,350. Crypto's hella shaky when markets get the jitters. 🙃

FX Market Behavior: U.S. Dollar vs. Majors:

Overlay of USD vs. Majors

Overlay of USD vs. Majors Chart by TradingView

The U.S. dollar was vibing kinda chaotic midweek, balancing Middle East drama with Fed's hawkish tea. It started the whole shebang on loans in Asia 'cause Trump was like, "Iran's gotta quit." Lotta folks were like "ew" and that dragged USD against topdogs. 😏

Europe was like "meh" even though Brexit-flexed inflations weren't hurting too much. UK CPI paled in comparison to historically pop levels, chilling at 3.4% yearly, while Eurozone CPI called a truce at 1.9%. Geopolitical feels in the States popped after Iran beefed up—you already knew better than to slack when Trump’s tone was real. 😤

The 180 happened in the U.S. sesh post-FOMC decision. No rate hikes 'cause Powell's speech hit like a hawk smacking real talk about inflation, overthrew the light U.S. housing stats and brought USD into the black. 💪🤑

By bell time, Greenback was flexin' its earlier red out, ending legit mixed amid inflation flares alive in the market trends. 🚦🔀

Upcoming Potential Catalysts on the Economic Calendar

  • Swiss balance of trade for May at 6:00 AM GMT
  • Swiss SNB rate debate for June 19 at 7:30 AM GMT
  • Eurozone ECB chief Lagarde spills jokes at 7:30 AM GMT
  • Eurozone's build vibes for April at 9:00 AM GMT
  • Eurozone ECB’s Guindos at 9:45 AM GMT
  • Eurozone ECB Prez Lagarde at 10:30 AM GMT
  • Canada's biz feels for June at 11:00 AM GMT
  • UK Bank Rates decision for June 19 at 11:00 AM GMT
  • UK MPC meeting tea at 11:00 AM GMT
  • UK consumer vibes for June at 11:01 PM GMT
  • U.S. Juneteenth B-day bash
  • Japan CPI deets for May at 11:30 PM GMT
  • Japan BoJ strategy sesh at 11:50 PM GMT

Traders gotta buckle up for Europe feels with SNB and BOE dropping rate deets, followed by ECB tea sessions that may send EUR and GBP wild. 🌍⚡

U.S. drama ain't easing up either, with Canada's biz feels in the lineup, plus late-night yen electric bolts from Japan's CPI and BoJ. 👀

And brace for energy jolts from the U.S. potentially stirring in the Israel-Irannyyyyy beef, major drama plays up ahead. Don’t snooze or swerve these pulse pounders! 🚀💥

Pro tip: stay sharp and peep our Forex Correlation Calculator before you dip into those trades! 📈📉