๐ฐ Hourly Briefing | 2026-06-29 22:13 CST
USD/JPY hits near 40-year high then pulls back; S&P 500 up 1% at open; Rubio briefs Congress on Iran; Gold extends losses to -1.74%.
๐ฐ Hourly Briefing | 2026-06-29 22:13 CST
๐ Market Snapshot
| Asset | Price | Change |
|---|---|---|
| ๐ฅ Gold XAUUSD | 4010.37 | -70.92 (-1.74%) โ |
| ๐ข๏ธ WTI Crude | 69.993 | -0.084 (-0.12%) โ |
Gold accelerated its decline, dropping 1.74% intraday below 4020, with volume at 134k contracts โ selling pressure remains dominant. Crude held above 69 but faces overhead resistance.
US equities mixed at open: S&P 500 +1%, Nasdaq Golden Dragon China Index +2%; Philadelphia Semiconductor Index turned negative at -0.6%. USD/JPY surged to 161.95 (highest since Dec 1986) before retreating 14 points to 161.8.
๐ฅ Key Headlines This Hour
Yen hits near 40-year low โ USD/JPY broke above previous highs to 161.95, the strongest level since December 1986, before pulling back to 161.8. Persistent yen weakness reflects wide US-Japan rate differentials; markets are watching closely for possible Bank of Japan intervention.
Rubio and Witkoff brief Congress on Iran โ Secretary of State Rubio and Special Envoy Witkoff are briefing both the House and Senate on the Iran situation today, signaling the US-Iran standoff has reached the congressional level.
Navigation warning issued in northern Yellow Sea โ Dalian Maritime Safety Administration announced military operations in parts of the northern Yellow Sea on June 30 (7:00-12:00), prohibiting entry. Asia-Pacific geopolitical sensitivity rising.
Multiple US Supreme Court rulings โ Rejected Republican challenge to Mississippi’s five-day grace period for mail-in ballots; declined to review the constitutionality of SEC’s now-repealed “gag rule.” Both rulings address regulatory boundaries.
India approves 300 billion rupees for NIIF โ Indian cabinet approved investment into the National Investment and Infrastructure Fund, doubling down on infrastructure spending.
Germany pledges โฌ250M for Hormuz-affected regions โ Aid targeted at the most severely impacted African and Asian countries affected by the strait blockade.
UBSๅคงๅน ไธ่ฐ่ฏ็่ก็ฎๆ ไปท โ Raised Astera Labs price target from $250 to $400, Texas Instruments from $295 to $350, reflecting continued strong AI chip demand expectations.
Waller to release Fed reform roadmap details โ Five working group outlines to be published in coming weeks, completing research by year-end, with FOMC members evaluating implementation paths. The Fed’s reform direction is becoming clearer.
LME aluminum hits lowest since February โ Three-month aluminum fell to $3,104/tonne, down 2.0% intraday, as base metals face selling pressure.
๐งญ Market Assessment
Gold dropped nearly 2% intraday from an opening of 4079, with technical support at 4020 now broken.
The 4000 USD level has become the critical bull-bear dividing line; a breach would trigger a fresh wave of panic selling.
Yen at near 40-year lows raises intervention expectations from the Bank of Japan; any action would send ripple effects through USD and commodities.
US-Iran tensions escalating to Congress, but market reaction remains relatively measured.
Year-end rebalancing sell pressure combined with semiconductor sector weakness means short-term pullback risk should not be underestimated.
โฐ Upcoming Key Data
- June 30 (Tue): US June ISM Manufacturing PMI (est. 50.2, prev. 50.1)
- June 30 (Tue): US June Chicago PMI
- July 1 (Wed): US June ADP Employment Change
- July 3 (Fri): US June Non-Farm Payrolls (major release)