Forex Analysis

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.

The Elon Musk-founded SpaceX (SPCX) has spent its first few sessions on Nasdaq doing exactly what an engineered float is built to do: holding firm because almost nobody is allowed to sell.

The Reserve Bank of Australia delivered more than what markets expected: a hawkish hold that should have supported the Aussie. But markets widely ignored it, focusing instead on slowing economic growth and proving that central bank messaging alone isn’t always enough to drive currencies.

Ripple (XRP) extends its bearish roll near $1.12 support on Friday, reflecting intense headwinds in the broader crypto market largely attributable to macroeconomic pressure.

Macroeconomic headwinds continue to weigh heavily on the cryptocurrency market on Friday, prompting major assets like Bitcoin (BTC) to pare earlier gains and extend losses after June’s brief relief rally.

Bitcoin is set to end the week in the red, trading near the 200-Week Simple Moving Average at around $62,300 on Friday. Institutional selling persists, capping BTC’s recovery as spot Exchange Traded Funds point to a sixth consecutive week of outflows.