-
Weak demand for U.S. Treasury bonds translated yesterday into sharp declines on Wall Street (S&P 500: -1.6%, DJIA: -1.9%, Nasdaq: -1.4%, Russell 2000: -2.8%). Yields on 30-year U.S. bonds rose by over 10 basis points due to concerns about a deepening deficit and lack of consensus on Trump’s tax bill in the U.S. House of Representatives.
-
The U.S. Senate has unblocked the proposed stablecoin bill, allowing for debate and potential voting next week. Progress in the legislative process sparked euphoria in the cryptocurrency market. Bitcoin is up 2.9% to $111,370, Ethereum 4.9% to $2,632, and gains were also seen in contracts for Dogecoin (+4.7%), Solana (+3.9%), and Polygon (+3.9%).
-
In the Asia-Pacific region, pessimism from Wall Street is continuing. Declines are seen in the Chinese HSCEI (-0.14%), Japanese Nikkei 225 (-0.94%), South Korean Kospi (-1.17%), and Australian S&P/ASX 200 (-0.44%). Companies linked to Bitcoin are resisting the downward trend.
-
Baidu (BIDU.US) is down over 3% following its Q1 2025 earnings release, despite revenue exceeding forecasts, mainly driven by AI cloud services. Adjusted operating profit dropped 20% year-over-year, and the gross margin missed expectations. Revenue from its key search engine advertising segment also underperformed.
-
Australia's services PMI fell in May to 50.5 (previous: 51), while manufacturing PMI remained steady at 51.7. Expansion in Australian business is primarily due to continued growth in new orders and increased employment. However, the pace of growth has started to slow, along with business optimism.
-
Manufacturing PMI in Japan recorded a marginal increase to 49, in line with expectations (previously: 48.7).
-
In the forex market, volatility remains limited. The U.S. dollar index is flat, Japanese yen is recording the largest gains among G10 currencies (USDJPY: -0.3%), while the New Zealand dollar is the weakest (NZDUSD: -0.25%), depreciating in response to downgraded GDP forecasts by the New Zealand Treasury. The Australian dollar is rebounding (AUDUSD: +0.2%), and the EURUSD is up a modest 0.05% to 1.335.
-
Gold continues to rise by 0.6% to $3,333 per ounce, silver by 0.66% to $33.60 per ounce, while yesterday’s session standouts, platinum (-0.1%) and palladium (-0.3%), are seeing slight corrections.
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
