This article has been translated from English to Gen Z Slang.
So, the week kicked off with everyone all sus and on edge after Trump decided to get all extra with Iran over the weekend. 💥
Crude oil spiked like it had too much Red Bull, but then moved chill again 'cause Iran played it cool and didn't mess with the oil tankers in the Strait of Hormuz. 🌊⛽
Yo, here’s the tea you might’ve missed from the last trading seshes! 🗞️
Headlines:
- The U.S. rolled up on Iran’s top nuke spots over the weekend, ditching the plan to chill for another two weeks. 😬
- Australia S&P Global Services PMI Flash for June 2025: 51.3 (50.1 guessed; 50.6 before)
- Australia S&P Global Manufacturing PMI Flash for June 2025: 51.0 (50.5 guessed; 51.0 before)
- Japan Jibun Bank Manufacturing PMI Flash for June 2025: 50.4 (49.7 guessed; 49.4 before)
- Japan Jibun Bank Services PMI Flash for June 2025: 51.5 (51.5 guessed; 51.0 before)
- Germany HCOB Manufacturing PMI Flash for June 2025: 49.0 (49.1 guessed; 48.3 before)
- Germany HCOB Services PMI Flash for June 2025: 49.4 (48.0 guessed; 47.1 before)
- Euro area HCOB Manufacturing PMI Flash for June 2025: 49.4 (49.9 guessed; 49.4 before)
- Euro area HCOB Services PMI Flash for June 2025: 50.0 (50.1 guessed; 49.7 before)
- U.K. S&P Global Manufacturing PMI Flash for June 2025: 47.7 (46.6 guessed; 46.4 before)
- U.K. S&P Global Services PMI Flash for June 2025: 51.3 (51.0 guessed; 50.9 before)
- Iran clapped back at a U.S. base, but nobody got hurt, fam. 😌
- U.S. S&P Global Services PMI Flash for June 2025: 53.1 (53.0 guessed; 53.7 before)
- U.S. S&P Global Manufacturing PMI Flash for June 2025: 52.0 (52.0 guessed; 52.0 before)
- U.S. Existing Home Sales for May 2025: 0.8% m/m to 4.03M (-2.5% m/m guessed; -0.5% m/m before)
- Iran stayed chill on the oil traffic in Strait of Hormuz, as Trump let 'em think it's all good vibes, maybe. 🌍❤️
Broad Market Price Action:
Dollar Index, Gold, S&P 500, Oil, U.S. 10-yr Yield, Bitcoin Overlay Chart by TradingView
Everyone was vibing hard on the Middle East drama, focusing on the whole Israel-Iran-US scene after the weekend's fireworks from Trump's call. 😎
WTI crude oil was def boosted, peeps worried over the tea spilling in oil production and traffic at the Strait of Hormuz, but when the coast was clear, it sank faster than your mood on a Monday. 😅
Safe haven gold was like, steady, but trendy, staying lit when everyone's eyes were on the Middle East drama. Meanwhile, Bitcoin bro had no chill, dipped near $100K and then had a glow-up to $104K as everyone started feeling better. 📈🤑
The dollar and Treasury yields were feeling those (literal and fig) safe vibes at first but then skrr skirt to chill mode after the shout-outs for potential peacemaking went viral. 💸
FX Market Behavior: U.S. Dollar vs. Majors:
Overlay of USD vs. Majors Chart by TradingView
Peeps made it PMI day in the currency town; basically, everyone was dropping initial vibes on what their manufacturing and services were doing for June. But yeah, dollar pals were mostly in sync while the hype was more about that IRL drama. ✈️🕶️
The U.S. greenback came in hella strong, as everyone was asking "WWIII?" after the U.S. decided to bring the spicy sauce to Iran. USD was the ultimate flex up against all the other currencies while having a dance-off against JPY during the Asian hours and chillaxing with CHF and other European bros, same as the oily CAD. 💪💵
Flash PMI vibes from the euro gang were all over; France didn’t bring the heat as expected but Germany had lil green lights yet not enough to bring the factory parties back. UK too showed a glow-up but not enough to kick GBP into dance against the dollar. And the market gang stayed woke, just in case Iran decided to clap back during the London wake-up call. ⏰
Uncle Sam's PMI vibes came through with some sparkly surprises, but couldn’t extend the dollar's high because all those “maybe chill” Middle East whispers were going round. It ended USD's winning streak of safe-haven flows from earlier, painting the town red. 🚦🛬
Upcoming Potential Catalysts on the Economic Calendar
- BOJ core CPI at 5:00 am GMT
- German Ifo biz vibes forecast at 8:00 am GMT
- BOE Big Boss Bailey's chatting at 8:00 am GMT
- BOE MPC member Greene drops words at 9:30 am GMT
- U.K. CBI industrial order guessing at 10:00 am GMT
- Canada's CPI deets at 12:30 pm GMT
- ECB rockstar Lagarde's speech at 1:00 pm GMT
- U.S. S&P/CS Composite-20 HPI at 1:00 pm GMT
- FOMC fam Hammack's speech at 1:15 pm GMT
- BOE MPC mate Ramsden's speech at 1:35 pm GMT
- BOE boss Bailey's encore at 2:00 pm GMT
- FOMC king Powell's speech at 2:00 pm GMT
- U.S. CB consumer confidence index at 2:00 pm GMT
- U.S. Richmond manufacturing index at 2:00 pm GMT
- BOE MPC buddy Pill serves the tea at 3:40 pm GMT
- BOE MPC member Breeden's mic time at 3:50 pm GMT
- FOMC squad Williams talks at 4:30 pm GMT
Today's got econ data on the menu with Canada spilling its CPI tea while a bunch of central bank headliners are ready to spill the beans. 🎤🤯
Keep your airpods on for any juicy details highlighting the extra stress from geopolitical vibes, as this could switch up their game plan. And don't sleep on the U.S. CB consumer confidence index; it might send the USD on a wild spree since it gives the lowdown on spending feels for now. 🛍️💸
As always, keep it lit and check out our Forex Correlation Calculator when you're planning those sick moves! 🚀🔥
