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Qualcomm Stock Price Hits 4-week Low
Qualcomm shares decreased to 191.01 USD, the lowest since May 2026. Over the past 4 weeks, Qualcomm lost 19.48%, and in the last 12 months, it increased 19.92%.
Russia Inflation Rate at Near 3-Year Low
Russia's headline annual inflation rate fell for the second month to 5.3% in May 2026, down from 5.6% in April and below market estimates of 5.4%. This was the lowest reading since August 2023, but it remains well above the CBRβs target of 4%. Food price growth slowed to 2.9%, compared to 4% in April, as fruit and vegetable prices continued to decline (-10.4% vs -6.6%). Meanwhile, prices advanced faster for services (10.1% vs 9.9%) and non-food products (4.2% vs 3.9%). The core rate edged down to 4.9% in May from 5% in the previous month. On a monthly basis, the CPI rose by 0.2%, after a 0.1% increase in the prior month, in line with forecasts.
UK Stocks Outperform
Londonβs FTSE 100 reversed early losses to close around 0.3% higher at 10,255 on Wednesday, recovering from the previous sessionβs decline and outperforming major European peers. The main support came from Tritax Big Box REIT, which jumped 4.9% after confirming it had secured a successful appeal for its Β£360m Heathrow data centre project, boosting sentiment across property-linked stocks. Broader gains were supported by Entain, insurer Admiral Group and grocer Tesco. Among heavyweights, Shell and BP provided key uplift, alongside defensives British American Tobacco, Unilever, GSK and Compass Group, all rising between 1%-2%. On the downside, miners such as Endeavour Mining (-4.1%), Fresnillo (-1.7%) and Glencore (-0.9%) weakened. UK lenders faced pressure too, with HSBC down 1.3% and Standard Chartered falling 1.1%, following a JP Morgan note on the impact of new Chinese regulations.
European Stocks Slip Ahead of ECB
European stocks ended lower on Wednesday, with the STOXX 50 declining 0.4% and the STOXX 600 remaining flat, as investors adopted a cautious stance amid renewed Middle East tensions following US-Iran strikes and ahead of the ECBβs monetary policy decision on Thursday. The ECB is widely expected to raise interest rates by 25 basis points, with investors closely monitoring policymakersβ signals on the future path of monetary policy. In the US, the May CPI report confirmed inflation reached a three-year high of 4.2%, matching expectations and reinforcing bets on a Federal Reserve rate hike in December. Meanwhile, UK lenders extended losses from the previous session after a JP Morgan note warned of a potentially greater impact from new Chinese regulations. STMicroelectronics also closed slightly lower, despite an upgrade to "buy" from "neutral" by BofA Global Research.
US Natural Gas Prices Edge Up
US natural gas prices edged up to $3.19 per MMBtu, supported by forecasts for above-normal temperatures in the second half of June, which are expected to boost cooling demand. However, prices remain below the recent highs seen earlier in the month. According to LSEG, average gas production in the US Lower 48 has eased to 108.8 billion cubic feet per day in June, down from 109.7 bcfd in May. While the decline in output has helped narrow the storage surplus, inventories remain about 5% above the five-year seasonal average, pointing to broadly comfortable supply conditions heading into the summer. Meanwhile, net flows to major LNG export terminals have fallen to 16.3 bcfd so far in June from 17.1 bcfd in May, as seasonal maintenance at facilities including Golden Pass and Freeport LNG in Texas continues to weigh on export volumes.
Bonds Update: Brazil 10Y Bond Yield Gains by 14 bps
Government bonds yields are higher on Wednesday. Top gainers are Brazil 10Y (13.50bps), Germany 10Y (1.15bps), Japan 10Y (1.08bps) and US 10Y (0.60bps).
Canada 10-Year Yield Steady After BoC Rate Hold
Canadaβs 10-year government bond yield held steady near 3.5% after the Bank of Canada left its benchmark interest rate unchanged at 2.25%, in line with expectations. The central bank noted that uncertainty remains elevated amid escalating tensions in the Middle East and new US tariff proposals, while reiterating that it stands ready to act if necessary and will not allow higher energy prices to feed persistent inflation. Markets continue to price in a 25bps rate hike by December. However, the 10-year yield remains below its May highs, tracking a decline in US Treasury yields as investors speculate that a potential USβIran agreement could help ease geopolitical tensions.
Canadian Dollar Strengthens After BoC Holds Rates
The Canadian dollar strengthened slightly to around 1.39 per US dollar after the Bank of Canada left its key interest rate unchanged at 2.25%, as widely expected. The central bank noted that uncertainty remains elevated amid escalating tensions in the Middle East and new US tariff proposals, but reiterated that it stands ready to act if needed and will not allow higher energy prices to feed sustained inflation. Investors largely expect the central bank to raise borrowing costs by 25bps in December. Still, the loonie remained near December lows, as the conflict with Iran continued to support demand for the US dollar as a safe haven.
FX Updates: Norwegian Krone Rises by 0.45%
Top currency gainers are Norwegian Krone (0.45%), Mexican Peso (0.41%), Indian Rupee (0.29%), British Pound (0.16%) and Euro (0.08%). Biggest loser is Japanese Yen (-0.08%). Meanwhile Dollar Index was little changed.
Equinix Stock Price Hits 8-week Low
Equinix shares decreased to 1043.00 USD, the lowest since April 2026. Over the past 4 weeks, Equinix lost 3.78%, and in the last 12 months, it increased 16.95%.
South African Rand Subdued
The South African rand hovered around 16.5 per USD, near the lowest since mid-May, pressured by falling prices of key precious metals, particularly gold and PGMs. Markets turned cautious as Middle East tensions flared again with USβIran strikes, while President Trumpβs remarks unsettled a fragile ceasefire and clouded hopes for a broader peace deal. Meanwhile, the South African Reserve Bank (SARB) noted in its Financial Stability Review that the oil price shock could prolong inflationary pressures, increasing the likelihood of further tightening. It added that its quarterly projection model now suggests another rate hike in 2026 following the 25-basis-point increase on May 28. The central bank raised the key repo rate by 25 bps to 7.0%, the first hike in three years, in a defensive response to mounting inflationary pressures stemming from the Middle East conflict.
McDonalds Stock Price Hits 4-week High
McDonalds shares increased to 285.33 USD, the highest since May 2026. Over the past 4 weeks, McDonalds gained 3.89%, and in the last 12 months, it decreased 5.04%.
US Crude Inventories Drop for 7th Week
US crude inventories fell by 7.228 million barrels in the week ended June 5, 2026, marking the seventh consecutive weekly decline and surpassing expectations for a 4 million barrel draw. Stocks at the Cushing, Oklahoma hub also decreased by 801,000 barrels, extending their decline for a seventh week. Refinery activity increased, with crude runs rising by 81,000 barrels per day. In contrast, gasoline inventories rose by 186,000 barrels, defying forecasts for a 0.5 million barrel decline, while distillate stocks, including diesel and heating oil, increased by 200,000 barrels, compared with expectations for a 0.5 million barrel draw. Net US crude imports rose by 525,000 barrels per day over the week.
Ibovespa Slips as US-Iran Tensions Escalate
The Ibovespa edged down to trade below 169,500 on Wednesday amid escalating tensions in the Middle East. Oil prices rebounded following renewed retaliatory attacks between the US and Iran, while hopes for a deal that could restore oil flows through the Strait of Hormuz faded. Higher crude prices pushed bond yields up on concerns about energy-driven inflation and reinforced expectations of a more hawkish BCB. Market pricing now suggests a pause in the central bank's easing cycle at next week's meeting, with investors increasingly betting that the next move in interest rates will be upward. Banks traded lower, with ItaΓΊ and Bradesco down about 1%, while utilities also weakened, with Axia shedding more than 1%. Vale fell nearly 1% despite higher iron ore prices. WEG extended losses, down more than 1% after reporting weaker-than-expected earnings on Tuesday. Meanwhile, election polls showed President Lula widening his lead over Senator FlΓ‘vio Bolsonaro.
Baltic Dry Index Losing Run Continues
The Baltic Exchange's dry bulk freight index, which monitors rates for ships carrying dry bulk commodities, extended its decline into a ninth consecutive session on Wednesday, falling about 1.7% to a fresh low since May 1st at 2,771 points. The capesize index, which typically transports 150,000-ton cargoes including iron ore and coal, dropped about 3.2% to 4,301 points. Conversely, the panamax index, which tracks vessels carrying around 60,000 to 70,000 tons of coal or grain, went up by 0.3% to 2,211 points; and the supramax index rose by 0.3% to 1,618 points.
BoC Leaves Rates Steady, Stands Ready to Raise if Needed
The Bank of Canada left the target for its benchmark overnight rate steady at 2.25% for a fifth consecutive meeting in June 2026, in line with expectations. Policymakers said that so far, there has been limited evidence of broad-based pass-through of higher energy prices to other consumer prices. However, the central bank is continuing to look through the warβs near-term impact on inflation and will not let higher energy prices become persistent inflation, standing ready to respond as needed. Inflation in Canada rose to 2.8% in April mostly due to energy prices, but the core rate moved down to 2.1%. The central bank expects inflation to hover around 3% before gradually easing towards the 2% target. Policymakers also noted that economic activity in Canada has been weak and uncertainty about US trade policy persists. The Bank Rate and the deposit rate were also kept at 2.5% and 2.20% respectively.
Brazilian Real Holds Near Two-Month Low
The Brazilian real traded near 5.19 per USD in June, remaining close to its weakest level in two months as broad dollar strength prevailed amid heightened tensions in the Middle East. Concerns intensified after a US helicopter was shot down near the Strait of Hormuz, prompting retaliatory US strikes and boosting demand for safe-haven assets. Meanwhile, elevated US inflation and a tight labor market reinforced expectations of a hawkish Federal Reserve. In Brazil, investors also monitored a poll showing President Lula widening his lead over Senator FlΓ‘vio Bolsonaro. Economic data remained resilient, with GDP expanding 1.1% in the first quarter, above expectations, while annual inflation accelerated to 4.39% in April. Market pricing now suggests a pause in the central bank's easing cycle at next week's meeting, with investors increasingly betting that the next move in interest rates will be upward.
US Stocks Lower as Tech Sector Drags
US stocks were lower on Wednesday, with the S&P 500 down 0.6%, the Nasdaq falling 0.8%, and the Dow Jones losing 280 points, as a renewed tech selloff weighed on sentiment amid lingering concerns over elevated AI-related valuations. Nvidia (-1.4%), Broadcom (-3.9%), and Micron Technology (-3.5%) were lower and Oracle slipped 2.4% ahead of its earnings release. The industrial sector also weakened, although energy stocks outperformed as oil prices rose amid continued strikes between Iran and the US. US President Trump signaled that negotiations with Iran were taking βtoo longβ and threatened more action. Meanwhile, the latest CPI report showed US annual inflation accelerating to 4.2% in May while core inflation rose less than anticipated on a monthly basis, increasing 0.2%. The data offered some relief that the energy-driven shock has not yet meaningfully spilled over into broader price pressures. Still, markets continue to fully price in a 25bps rate hike by the Fed in December.
Adobe Systems Stock Price Hits 8-week Low
Adobe Systems shares decreased to 231.74 USD, the lowest since April 2026. Over the past 4 weeks, Adobe Systems lost 5.39%, and in the last 12 months, it decreased 44.03%.
TJX Companies Stock Price Hits 8-week High
TJX Companies shares increased to 165.04 USD, the highest since April 2026. Over the past 4 weeks, TJX Companies gained 10.15%, and in the last 12 months, it increased 30.13%.
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