0324 GMT – Bitcoin rises 0.3% to $63,507.18 in early trade. Prices have stabilized after a brief slip below the $60,000 level earlier this year, Forex.com market analyst David Scutt says in a commentary. Bitcoin’s selloff since early June has shown an unusually strong correlation with gold’s decline. Scutt attributes the rout to investors selling assets to raise liquidity for SpaceX’s IPO. “If liquidity was raised by selling Bitcoin, some of that capital could quickly find its way back once the dust settles,” he suggests. While the near-term price direction is uncertain, Scutt says he is watching the $64,000 level as a move above it may encourage bullish momentum. However, a drop below $61,000 could cause bearish sentiment to intensify, he adds. ([email protected])
0320 GMT – The dollar is expected to trade around 4.05 ringgit-4.07 ringgit next week, with risks tilted toward near-term weakness for the Malaysian currency, Kenanga economists say in a note. They expect the Fed to maintain a patient stance while geopolitical risks in the Middle East remain elevated but manageable. Stable U.S. employment and persistent inflation concerns are likely to keep Treasury yields elevated and support the dollar, they reckon. Investors are expected to remain cautious on emerging-market currencies until there is clearer evidence of a Fed policy pivot or meaningful progress in regional diplomacy, they add. Kenanga expects the dollar to face resistance at 4.068 ringgit and find support at 4.050 ringgit. The dollar falls 0.2% to 4.0591 ringgit. ([email protected])
0316 GMT – India’s coming consumer inflation print will likely show that price pressures increased in May, potentially fueling expectations that a rate increase is around the corner. A WSJ poll of economists tips CPI growth at 4.0% on the year versus 3.48% in April, reflecting the impact of the Iran crisis on fuel and other items. If the next few sets of inflation numbers confirm the Reserve Bank of India’s forecast for inflation to average 5.7% in 2H, Citi economists expect to see two 25bp rate hikes–one in August and one in October. Economists at DBS take a less hawkish view, saying that while price pressures warrant attention, inflation is tracking at the midrange of RBI’s target. Therefore, it’s likely less of an immediate policy concern for the central bank, they say. ([email protected])
0244 GMT – The Singapore dollar weakens slightly against its U.S. counterpart in the Asian session on possible position adjustments, but may be buoyed by risk-on sentiment. U.S. President Trump cancelled further strikes against Iran and signaled a deal with the Middle Eastern country is close, OCBC Group Research’s Sim Moh Siong says in a research report. “Hopes of reopening the Strait of Hormuz pushed oil lower, easing inflation concerns and driving cross-asset moves,” the strategist says, adding lower crude prices are risk-positive. The U.S. dollar is 0.1% higher at 1.2848 Singapore dollars, LSEG data show. ([email protected])
0026 GMT – Japanese stocks are higher in early trade due to renewed optimism over a U.S.-Iran peace deal. Chip-related stocks are leading the gains. Tokyo Electron Ltd. is up 11% and Advantest is 8.2% higher. The dollar is at 160.17 yen, compared with Y160.57 as of Thursday’s Tokyo stock market close. Investors are closely watching developments regarding the Iran conflict after President Trump said the U.S. was nearing a peace deal with Iran. The Nikkei Stock Average is up 4.0% at 66784.49. ([email protected]; @kosakunarioka)
0021 GMT – Asian currencies consolidate against the dollar in early trade, but may be buoyed by risk-on sentiment. President Trump said that he has an agreement with Iran to end the conflict, but that final details still need to be completed in coming days. Middle East peace hopes have sparked a broad risk-on rally across financial markets, StoneX’s Matt Simpson says in commentary. However, “risk sentiment could quickly reverse if this proves to be another deal that disappears as quickly as it supposedly arrived,” the senior market analyst adds. The dollar rises 0.3% to 1,520.50 won, but is flat at 32.77 baht, and is 0.3% lower at 4.0500 ringgit, LSEG data show. ([email protected])
0014 GMT – JGBs rise in early Tokyo trade, tracking overnight price gains in U.S. Treasurys. Both JGBs and Treasurys tend to move in tandem. These price gains come after President Trump canceled military strikes against Iran and said a peace deal with the Middle Eastern country could be signed in ‘coming days.’ The markets have shifted into bond-price-positive mode, following Trump’s remarks, says Ray Attrill, NAB’s head of FX Strategy, in commentary. A U.S.-Iran deal could ease oil-supply disruptions in the Middle East, leading to lower crude prices and softer inflation pressures. Benchmark 10-year JGB futures are 0.32 yen higher at Y129.02. ([email protected])
2342 GMT – Japanese stocks are likely to rise thanks to renewed hopes for a U.S.-Iran peace deal. Nikkei futures are up 3.3% at 66610 on the SGX. The dollar is at 160.08 yen, compared with Y160.57 as of Thursday’s Tokyo stock market close. Investors are focusing any developments regarding the Iran conflict. President Trump says he has an agreement with Iran to end the war, but that the final details still need to be completed in the coming days. The Nikkei Stock Average rose 0.1% to 64217.27 on Thursday. ([email protected])
2306 GMT – 19 ET – RH says its new concept RH Estates is key to reaching the pinnacle of the luxury home furnishings market. “RH Estates is, from our view, the first step up to the top of the luxury mountain,” Chief Executive Gary Friedman says during a call with analysts. “It is the highest level of quality and design that exists in the world unless you’re really buying rare antiques,” he says. Friedman says the new concept aims to break down those barriers, allowing the best designs to scale up globally without sacrificing quality. ([email protected])
2304 GMt – Forsyth Barr thinks the market is too bearish about the outlook for Summerset. The retirement-village operator’s share price has fallen more than 30% to NZ$8.23 so far this year. Analyst Will Twiss says this reflects growing investor concerns around issues including the cash-generation potential of Summerset’s existing villages and the strength of its balance sheet. “These concerns are not unfounded,” says Forsyth Barr. “However, we believe the market has become excessively pessimistic.” It thinks investors are assuming a higher probability of balance-sheet stress than is justified. They’re also assuming a steady-state cash return on net tangible assets of only 3% from Summerset’s existing villages and little to no value creation from its development engine, Forsyth Barr says. It retains an outperform call and NZ$12.60/share price target. ([email protected]; @dwinningWSJ)
2249 GMT – Skellerup’s bull at Forsyth Barr continues to think the company might positively surprise with its FY26 earnings. Analyst Rohan Koreman-Smit says data points and key customer updates suggest solid momentum has continued into 2H. Exchange rates have also moved favorably, with the Australian dollar strengthening. “As such, we see upside risk to the top end of FY26 guidance, which implies a slowdown in net profit growth from 20% in 1H26 to 9% in 2H26, and remain comfortable with our modestly (+2%) above-guidance estimate,” Forsyth Barr says. Its price target rises 8.3% to NZ$7.15/share. Skellerup is up 0.2% to NZ$6.33 today. ([email protected]; @dwinningWSJ)
2244 GMT – There were two surprises for Jefferies at Super Retail’s investor day yesterday. Super Retail unexpectedly signaled higher unallocated costs from spending on projects and outlined plans to accelerate the roll out of new stores. Jefferies, which rates Super Retail at hold, highlights that sportswear business Rebel’s profit margins have declined in the past five years despite its store footprint remaining largely unchanged. That makes analyst Michael Simotas cautious about plans to increase the chain’s floor space at a compound annual rate of 5%. “Valuation undemanding but weak consumer backdrop and cost inflation leave us cautious on the near-term outlook,” he says of Super Retail’s stock. Super Retail ended Thursday at A$12.35, above Jefferies’s A$12.00/share price target. ([email protected]; @dwinningWSJ)