This article has been translated from English to Gen Z Slang.
Yo fam, all eyes are glued on the Israel-Iran beef 🤯 and the low key drama 'bout a ceasefire acting sus already.
Still, the vibes boosted U.S. stock markets, while oil was like "nah fam" and started rolling back the recent gains. 💸
Check these tea headlines you probs missed during the latest trading seshes! 😜
Headlines:
- New Zealand Credit Card Spending YoY for May 2025: 2.2% (0.3% forecast; 0.5% previous) 🔥
- Germany Ifo Business Climate for June 2025: 88.4 (88.4 forecast; 87.5 previous)
- ECB official de Guindos says the chill disinflation vibes are still on track, no cap
- ECB official Kazimir said they're cruising at target when it comes to dragging those neutral interest rates 🔥
- U.K. CBI Industrial Trends Orders for June 2025: -33.0 (-32.0 forecast; -30.0 previous)
- Israel came at Iran, saying they popped off with two missiles right after the ceasefire kicked in and threw a "come at me bro" to Tehran 🤬
- Iran hits back saying "nah fam, that wasn't us, we were just finishing up before the timeout started"
- Canada Manufacturing Sales for May 2025: -1.3% m/m (-0.4% m/m forecast; -2.8% m/m previous) 🔧
-
Canada Consumer Price Index drip for May 2025: 0.6% m/m (0.4% m/m forecast; -0.1% m/m previous); 1.7% y/y (1.5% y/y forecast; 1.7% y/y previous)
- Canada Core Consumer Price Index Growth Rate for May 2025: 2.5% y/y (2.6% y/y forecast; 2.5% y/y previous); 0.6% m/m (0.6% m/m forecast; 0.5% m/m previous)
- Canada CPI Median for May 2025: 3.0% y/y (3.0% y/y forecast; 3.2% y/y previous) 💸
- Fed official Bostic says, "We ain't cutting rates just yet, folks"
- U.S. Pres. Trump keeps it 100, says he doesn't think Iran broke the ceasefire, and Israel won't go wildin' on them ⚖️
- U.S. Current Account for March 31, 2025: -450.2B (-450.0B forecast; -380.0B previous)
- U.S. S&P/Case-Shiller Home Price for April 2025: 0.8% m/m (0.8% m/m forecast; 1.1% m/m previous); 3.4% y/y (4.0% y/y forecast; 4.1% y/y previous)
- U.S. House Price Index for April 2025: -0.4% m/m (-0.1% m/m forecast; -0.1% m/m previous) 🏠
- U.S. Richmond Fed Manufacturing Index for June 2025: -7.0 (-7.0 forecast; -9.0 previous)
- Fed official Hammack throws it down about keeping interest rates chill for a hot minute 🔥
- ECB official Lane drops the word that they're feeling the inflation target vibes are almost done
- Iran’s President with the hard flex, "we chill if Israel chill" in terms of the ceasefire 🙌
- CB U.S. Consumer Confidence for June 2025: 93.0 (99.0 forecast; 98.0 previous)
- Fed head Powell says the feels on inflation from tariffs will be thicc by June to August, plus the economy's lowkey got options
- Fed official Williams warns about tariffs and slow-mo economy vibes in the coming months 🌾
- U.S. API Crude Oil Stock Change for June 20, 2025: -4.28M (-10.13M previous)
- New Zealand Balance of Trade for May 2025: 1.24B (1.2B forecast; 1.43B previous)
- New Zealand Exports for May 2025: 7.68B (7.84B previous)
- New Zealand Imports for May 2025: 6.44B (6.42B previous)
Broad Market Price Action:
Dollar Index, Gold, S&P 500, Oil, U.S. 10-yr Yield, Bitcoin Overlay Chart by TradingView
The risk mood was wild, as markets were trippin' over Middle East drama and ceasefire flops, yet keeping some faith that it’ll simmer down soon 🕊️.
WTI crude was the drama queen, whipping around in reaction to rumors of more spicy missile action ⚠️. Meanwhile, Trump's "I dunno" about Iran’s ceasefire breach had folks shook.
Gold dipped 'cause investors thought "no news, good news" ✌️, which means less drama and more chill in the market's vibe.
At the same time, Treasury yields and USD took a nap after Powell’s lowkey bearish statement on the economy vibing different directions and Williams’ slow growth warning 🚨.
Bitcoin is minding its own business, holding onto a cool $105K while the U.S. stocks were living for the Fed maybe keeping rates on pause for ages. 💰
FX Market Behavior: U.S. Dollar vs. Majors:
Overlay of USD vs. Majors Chart by TradingView
The Greenback started off like "meh," slipping against high-vibe currencies and the yen, as peeps held on to a mix of being cautious yet hopeful in Middle East tension town 😬. But the dollar wasn’t fully ghosted by the oil-fueled Loonie while oil kept rollercoastering.
Canada inflation sitch was kinda 🔥 and gave the CAD a lil' lift, peeps thinking less BOC drama incoming in July.
Later, Fed vibes saying "watch out, tariffs gonna hit harder" pushed the USD lower, 'cause Powell and Williams be talkin' about slower growth feels coming in hot.
Upcoming Potential Catalysts on the Economic Calendar
- Japan Leading Indicators Index at 5:00 am GMT 🌸
- France Consumer Confidence at 6:45 am GMT 🇫🇷
- Swiss Economic Sentiment Index at 8:00 am GMT
- Swiss SNB Quarterly Bulletin at 1:00 pm GMT
- U.S. New Home Sales at 2:00 pm GMT 🏠
- U.S. Fed Chair Powell Testimony at 2:00 pm GMT
- U.S. EIA Crude Oil Stocks Change at 2:30 pm GMT 🛢️
It's kinda chill on the economic scene today, but dollar stans might want to keep an eye on Fed Chairperson Powell’s mic drop for any sauce about market uncertainty and rate forecast 🔍.
Also, stay woke for any spicy headlines in the geo-political landscape or global trade tea that could shake the mood all around. As always, stay on your toes and remember to check out our Forex Correlation Calculator when putting down any trades! 🤓💼
