Track market-moving stories before they get noisy

7.7.2026 10:27

Ropa +1,21 % na 69,38 USD za barel.
Zemní plyn +1,36 % na 3,289 USD za mbtu.

Zlato -0,45 % na 4148,6 USD za unci.
Stříbro -1,06 % na 61,67 USD za unci.
Měď +0,02 % na 6,2335 USD za libru.

Kukuřice +0,16 % na 4,585 USD za bušl.
Pšenice -0,2 % na 6,1275 USD za bušl.

Michal Šnobl
Fio banka, a.s.
Prohlášení

Vertex Pharmaceuticals Incorporated (VRTX) M&A Call July 6, 2026 4:30 PM EDT

Company Participants

Susie Lisa - Senior Vice President of Investor Relations
Reshma Kewalramani - CEO, President & Director
Duncan J. McKechnie - Chief Commercial Officer, Head of North America Commercial & Executive VP
Charles Wagner - Executive VP, COO & CFO

Conference Call Participants

Jessica Fye - JPMorgan Chase & Co, Research Division
Salveen Richter - Goldman Sachs Group, Inc., Research Division
Mario Joshua Chazaro Cortes - Evercore ISI Institutional Equities, Research Division
Andy Chen - Wolfe Research, LLC
Jarwei Fang - Citigroup Inc., Research Division
Evan Seigerman - BMO Capital Markets Equity Research
Michael Yee - UBS Investment Bank, Research Division
Nevin Varghese - RBC Capital Markets, Research Division
Philip Nadeau - TD Cowen, Research Division
Tazeen Ahmad - BofA Securities, Research Division
Brian Skorney - Robert W. Baird & Co. Incorporated, Research Division
Jasmine Fels - Barclays Bank PLC, Research Division
Carter Gould - Cantor Fitzgerald & Co., Research Division

Presentation

Operator

Good day, and welcome to the Vertex Pharmaceuticals conference call to announce the acquisition of Crinetics Pharmaceuticals.

[Operator Instructions]

Please note this event is being recorded. I would now like to turn the conference over to Ms. Susie Lisa. Please go ahead.

Susie Lisa
Senior Vice President of Investor Relations

Thanks, Chuck. Good afternoon, everyone, and thank you for joining us on short notice for this exciting announcement. I'm Susie Lisa, and as Senior Vice President of Investor Relations, it's my pleasure to welcome you to this conference call to discuss Vertex's acquisition of Crinetics Pharmaceuticals.

Making prepared remarks on today's call, we have Dr. Reshma Kewalramani, Vertex's CEO and President; Duncan McKechnie, Chief Commercial Officer; and Charlie Wagner, Chief Operating and Financial Officer. We recommend that you access the webcast slides as you listen to this call. The call is being recorded, and a replay will be available on our website. We will make forward-looking statements on

7.7.2026 10:05, ENR

Index DAX -0,18 % na 25770,17 b.

Německý index DAX v úvodu obchodování mírně oslabuje. Nejvíce ztrácí akcie Siemens Energy (-5,9 %), a to poté, co společnost Barclays snížila cílovou cenu ze 130 EUR na 110 EUR a investiční doporučení z „Equal Weight“ na „Underweight“.

Index DAX -0,18 % na 25770,17 b. Nejsilnější akcie Změna Nejslabší akcie Změna Munich Re (MUV2) +2,3 % Siemens Energy (ENR) -5,9 % Beiersdorf AG (BEI) +2,3 % Infineon Technologies (IFX) -4,6 % SAP (SAP) +2,2 % HOCHTIEF AG (HOT) -2,5 % Fresenius Medical Care (FME) +2,2 % Siemens (SIE) -1,4 % Hannover Rueck SE (HNR1) +2,1 % Commerzbank AG (CBK) -0,2 % Zdroj: Bloomberg

Jakub Němec
Fio banka, a.s.
Prohlášení

Související odkazy Frankfurt uzavřel první polovinu roku v zelených číslech Frankfurtská burza otevírá v kladném teritoriu Německé akcie ve čtvrtek vzrostly Index DAX na začátku obchodování klesá o 1 %, výsledky zveřejnily Siemens Energy, Munich Re, Bayer Frankfurtská burza uzavřela týden v červených číslech

Oil Rises as Hormuz Risks Offset Saudi Price Cuts and Higher OPEC+ Supply but Bearish Picture Remains Oil prices are rising on Tuesday, recovering from a four-month low near $67 a barrel as renewed concerns over shipping security in the Strait of Hormuz temporarily outweigh expectations of stronger global crude supplies.

Crude rebounded after reports that a tanker transiting the Strait of Hormuz was struck off the coast of Oman, highlighting that security risks remain elevated despite the reopening of the strategic shipping route.

While the Strait has resumed operations, shipping volumes remain below pre-conflict levels and investors remain alert to any disruption that could threaten global energy supplies. As a result, a modest geopolitical risk premium has returned to the market.

However, the broader outlook for oil remains bearish as attention shifts back to rising supply.

Saudi Aramco cut the August official selling price of its flagship Arab Light crude for Asian buyers, signalling intensifying competition for market share at a time when regional supply is recovering.

The move follows OPEC+'s decision to increase August production targets, reinforcing expectations that additional barrels will return to the market during the second half of the year. Combined with improving export flows from the Gulf, the supply outlook continues to point towards a better-supplied oil market, limiting the scope for any sustained recovery in prices.

Oil Forecast – Technical Analysis

Oil broke below its symmetrical triangle pattern and the 200-day SMA, falling to a four-month low near $67 before finding support. The RSI has moved into oversold territory, suggesting the recent sell-off may pause before the next directional move.

While prices have rebounded towards $70, the broader trend remains bearish.

Sellers will look for a break below $67 to expose the February low around $62.50, followed by the psychological $60 level.

Any recovery would first need to reclaim the 200-day SMA near $74. A move above there would bring $80 into focus.

GBP/USD rises for an eigth day, testing a key resistance GBP/USD has climbed to a three-week high near 1.34 as the U.S. dollar weakens following softer U.S. economic data and a moderation in Federal Reserve rate hike expectations.

The dollar has remained under pressure since last week's weaker-than-expected payrolls report, which showed slower job creation across April, May and June than markets had anticipated.

Yesterday's ISM Services PMI reinforced that narrative. While activity remained firmly in expansion territory at 54.0, broadly in line with expectations, the Prices Paid component fell sharply from 71.3 to 67.7, suggesting inflationary pressures continue to ease. At the same time, the employment index improved to 51.2, pointing to a labour market that is cooling gradually rather than deteriorating sharply.

Taken together, the data support the view that inflation may continue to moderate without a significant slowdown in economic activity, reducing the urgency for further Federal Reserve tightening.

Markets now see a 41% probability that the Fed will leave interest rates unchanged in September, up from 32% a week ago, weighing on the U.S. dollar.

However, sterling's upside may also prove limited as investors have similarly scaled back expectations for further Bank of England tightening. Markets are now pricing around a 70% probability of a single 25-basis-point rate hike this year, compared with expectations for two increases just a few weeks ago.

Bank of England Governor Andrew Bailey recently reiterated that inflation is expected to return to the Bank's 2% target, although the process may take longer than previously anticipated.

Looking ahead, the UK economic calendar is relatively quiet. The focus will be on the Bank of England's Financial Stability Report. Any indication that policymakers are becoming more concerned about financial conditions or economic risks could reinforce expectations for a cautious policy approach and weigh on sterling.

GBP/USD Forecast – Technical Analysis

GBP/USD has rebounded from the 1.3200 support zone, rising to test resistance around 1.3400, where the 50-day and 200-day SMAs converge.

The RSI has moved above 50, indicating improving bullish momentum.

A sustained break above the moving averages would expose 1.3500, where falling trendline resistance and the May swing high converge. A move above that level would create a higher high and open the door towards 1.3650.

Failure to break above the moving averages could see the pair drift back towards support at 1.3330. A break below there would expose the 1.3200 support zone once again.

While crypto firms have been elbowing their way into major sporting events for years, one of the biggest sponsorship deals at the 2026 FIFA World Cup is refreshingly analog. Michelob Ultra, Anheuser-Busch’s low-carb beer brand, is the Official Beer Sponsor of the tournament, and its marquee activation, the “Superior Player of the Match” trophy, involves zero blockchain, zero NFTs, and zero fan tokens.

The latest recipient of that trophy is Belgian forward Charles De Ketelaere, who earned the honor after scoring twice in Belgium’s 4-1 dismantling of the United States in the Round of 16 on July 6-7, 2026. It’s a straightforward fan-voted award.

What happened on the pitch De Ketelaere, the 25-year-old Atalanta attacker, was the decisive figure as Belgium knocked the host nation out of the World Cup. His two goals anchored a comprehensive Belgian performance that ended 4-1, sending the US home and advancing Belgium to the quarterfinals.

Advertisement

The “Superior Player of the Match” trophy he received was designed in collaboration with artist Victor Solomon. Lionel Messi, who holds the all-time record with 11 Player of the Match awards in World Cup history, unveiled the trophy back in December 2025 as part of Michelob Ultra’s global campaign launch.

The award is determined by fan votes after each match, giving supporters a direct say in recognizing standout individual performances.

The crypto-shaped hole in sports sponsorships Rewind to the 2022 FIFA World Cup in Qatar. Crypto.com was everywhere. Algorand was an official FIFA blockchain partner. Budweiser (also Anheuser-Busch, notably) launched NFT campaigns tied to the tournament. Fan token platforms like Socios saw surges in activity around national team tokens.

Fast forward four years, and the same parent company behind Budweiser is running its World Cup sponsorship through Michelob Ultra with a completely traditional marketing playbook. No token-gated voting. No digital collectible trophies minted on-chain. No QR codes leading to a wallet download. Just a beer brand, a trophy, and a fan vote.

The 2026 World Cup, co-hosted across the US, Canada, and Mexico, is the biggest stage in global sports. The fact that beer money, not token money, is funding the individual player awards says something about which sponsors FIFA is prioritizing this cycle.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

With weaker-than-expected jobs data, the prospects for higher interest rates diminished.

*Stock prices used were the afternoon prices of July 4, 2026. The video was published on July 6, 2026.

Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.

7.7.2026 09:50

Obchodní bilance v národním pojetí (květen):
aktuální hodnota: 9,9 mld. Kč
očekávání trhu: 3,2 mld. Kč
předchozí hodnota: 6,8 mld. Kč

„Také v květnu rostl dovoz meziročně rychleji než vývoz, rozdíl v tempu růstu se však oproti předchozímu měsíci zmírnil. Na růstu obou směrů zahraničního obchodu se nejvíce podílel obchod s počítači, elektronickými a optickými přístroji. Významně vzrostl také vývoz strojů a zařízení,“ uvedl Zdeněk Skalák, vedoucí oddělení obchodní bilance ČSÚ.

Zdroj: Bloomberg, ČSÚ

Jakub Němec
Fio banka, a.s.
Prohlášení

United Overseas Bank’s (UOB) Quek Ser Leang highlights a sharp GBP/USD advance to 1.3397 and a firm close at 1.3391. Intraday, Leang sees scope for further gains toward 1.3410, though 1.3445 may stay out of reach. On a 1–3 week horizon, a break above 1.3410 could open 1.3445, while only a fall below 1.3300 would negate the positive Pound bias.

Pound rally faces layered resistance"24-HOUR VIEW: GBP rose to 1.3380 last Friday and then pulled back. When it was at 1.3345 yesterday, we highlighted the following: “While there is scope for GBP to pull back further, any decline is likely to be contained within a 1.3320/1.3375 range. In other words, GBP is unlikely to break clearly below 1.3320.” The subsequent price movements did not unfold as expected. GBP dipped to 1.3329 before staging a sharp advance to 1.3397. GBP closed on a firm note at 1.3391 (+0.29%). Strong momentum suggests further GBP strength toward 1.3410. A break above this major resistance is not ruled out, but based on the prevailing momentum, the next resistance at 1.3445 is likely out of reach. To sustain the momentum, GBP must hold above 1.3350, with minor support at 1.3370"

"1-3 WEEKS VIEW: We turned positive on GBP last Tuesday (30 Jun, spot at 1.3255), indicating that “while GBP could rebound further, it is currently unclear whether any advance can reach 1.3355.” After GBP broke above 1.3355, we highlighted on Friday (03 Jul, spot at 1.3345) that “the advance is overbought, but it could rise further and test 1.3410.” Yesterday, GBP rose to a high of 1.3397. A break above 1.3410 will not be surprising, and it could lead to a move to 1.3445. Overall, only a breach of 1.3300 (‘strong support’ previously at 1.3280) would indicate that GBP is not rising further."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)

7.7.2026 09:39

Průmyslová výroba (m-m) (sezónně očištěno) (květen):
aktuální hodnota: 0,9 %
očekávání trhu: 0,1 %
předchozí hodnota: 0,4 %

Průmyslová výroba (y-y) (očištěno o počet pracovních dní) (květen):
aktuální hodnota: 0,0 %
očekávání trhu: -0,6 % %
předchozí hodnota: -0,5 %

Zdroj: Bloomberg

Jakub Němec
Fio banka, a.s.
Prohlášení

Layer-1 blockchains will come under increasing pressure to sacrifice decentralization for speed and efficiency as adoption of the technology grows, according to Injective CEO Eric Chen.

This pressure will come from the need to satisfy users’ desire for faster speeds or more block space for higher throughput, Chen told Cointelegraph’s Chain Reaction podcast on Monday. 

“In our mind, it’s essentially about finding scaling opportunities without compromising the fundamental pillars that define what a blockchain is,” he said. 

With blockchain adoption accelerating due to institutional adoption and agentic AI finance, this tension is about to be tested on a much larger scale. Part of crypto’s original pitch was to create a “trustless” financial system in which individuals could transact without relying on traditional intermediaries. 

Centralization comes with risksChen said centralizing is the easy way out — “it might be a very, very easy choice to move everyone in the same data warehouse, or literally have a leader validator that calls all the shots for everyone” — but warned this creates a single point of failure: “If that one server has a certain fault, the entire chain goes down.”

Eric Chen chats with Ciaran Lyons on the Chain Reaction. Source: Cointelegraph 

Chen added that for Injective — an interoperable layer-1 blockchain designed for DeFi applications — it’s about “figuring out ways to optimize the entire chain,” and there are other opportunities to do this without reducing block time. 

One option he suggested was “scaling venues,” where there are “dedicated zones” and layer-2 scaling to ensure that all the high-demand transactions can make it through.

“It’s always a constant tug-of-war, and it’s about keeping the fundamental pillars and then kind of seeing where the space moves.”The blockchain trilemma remains a challengeIt is said the perfect blockchain boasts three elements: security, decentralization and scalability. The principle of the blockchain trilemma is that it is only possible to fully optimize two of the three properties at once. 

Decentralization means no single point of control, with many independent participants validating the network. Security means resistance to attacks, fraud and manipulation. Scalability means the ability to handle high transaction volumes at speed.

Pushing too hard on any one, such as scalability, will result in sacrificing another, such as decentralization, Chen said. 

The blockchain trilemma. Source: OKX

Magazine: AI is banking the unbanked in Africa... faster than crypto

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

The British Pound (GBP) ticks lower to near 1.3380 against the US Dollar (USD) during the European trading session on Tuesday. The GBP/USD pair edges down as the US Dollar gains slightly; however, the Cable is broadly upbeat.

At press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.1% higher to near 100.90.

The US Dollar is expected to trade cautiously as investors await the Federal Open Market Committee (FOMC) minutes of the June policy meeting, which will be released on Wednesday. Investors will closely read FOMC minutes to get fresh cues regarding the Federal Reserve’s (Fed) monetary policy outlook.

In the United Kingdom (UK), firm hopes that ongoing fiscal principles will continue despite the leadership transition are supporting the British Pound. Andy Burnham, the newly elected Member of Parliament and Mayor of Greater Manchester, is the front-runner for UK leadership after Prime Minister (PM) Keir Starmer’s resignation.

GBP/USD technical analysis

GBP/USD trades at around 1.3380 at press time. The Cable has shown a stalwart rally after attracting significant buying interest near 1.3140 two weeks back. The pair holds a constructive near-term tone as it remains above the 20-day Exponential Moving Average (EMA) at 1.3320.

Momentum is mildly positive, with the Relative Strength Index (14) at 55.7, hinting that buyers retain control without the market appearing overstretched.

On the topside, the next key hurdle is the downward-sloping resistance trend line, which comes in around 1.3526 and caps the broader recovery. On the downside, initial support is seen at the 20-day EMA at 1.3320 ahead of the June low near 1.3140.

(The technical analysis of this story was written with the help of an AI tool. Know more.)

Pound Sterling FAQs The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data. Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE).

The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates. When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money. When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects.

Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP. A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall.

Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

7.7.2026 09:24, BAACEZ

Analytik Oleg Galbur z Oddo BHF přistoupil k navýšení cílové ceny akcií ČEZ, a to z 920 Kč na 1540 Kč. Investiční doporučení změnil z „Underperform“ na „Outperform“.

Akcie ČEZ Akcie společnosti ČEZ (BAACEZ) otevírají na pražské burze poklesem o 0,32 % na 1245,0 Kč. Na RM-SYSTÉMu se akcie rovněž obchodují za 1245,0 Kč.

Zdroj: Bloomberg

Jakub Němec
Fio banka, a.s.
Prohlášení

Související odkazy ČEZ: Radim Fiala zvolen novým předsedou dozorčí rady ČEZ: J&T Banka zvyšuje cílovou cenu na 1332 Kč a mění investiční doporučení na „buy“ Do čela nově vzniklé ČEZ Energy se postavil Pavel Cyrani ČEZ založil dceřinou společnost ČEZ Energy ČEZ uzavřel dodatečné financování ve výši 8,9 mld. Kč

Silver price (XAG/USD) is down 1.35% to near $61.00 during the Asian trading session on Tuesday. The white metal extends its correction as oil prices see some buying interest, following headlines that Iran fired at least two missiles at commercial ships transiting through the Strait of Hormuz, a critical chokepoint to almost one-fifth of global energy supply.

Iran’s attack on commercial ships has renewed fears of energy supply disruption, whose impact on global inflation has already been witnessed by market participants in the past few months amid the war between the United States (US)-Israel and Iran.

The Silver price underperformed during the Middle East war, as the increase in inflationary pressures due to rising energy prices prompted fears of interest rate hikes by global central banks.

Higher interest rates bode poorly for non-yielding assets, such as Silver.

Going forward, the major trigger for the Silver price will be the release of the Federal Open Market Committee (FOMC) minutes of the June policy meeting on Wednesday. Investors will pay close attention to FOMC minutes to get fresh cues regarding the Federal Reserve’s (Fed) monetary policy outlook.

In the June policy meeting, the Fed decided to leave interest rates unchanged in the range of 3.50%-3.75% and signaled that the central bank will refrain from delivering forward-looking remarks on policy rates at the current policy juncture.

Silver technical analysis

XAG/USD trades lower at around $61.50, maintaining a bearish near-term bias as spot holds beneath the 20-day exponential moving average (EMA) at $63.35. The downside tone is reinforced by the Relative Strength Index (RSI) hovering near 41, which suggests persistent but not extreme selling pressure as rebounds continue to be capped by the nearby EMA barrier.

On the topside, immediate resistance is located at the 20-day EMA at $63.35, and a sustained break above this level would be needed to ease the current bearish pressure and open the way for a more constructive recovery phase. Looking down, the psychological level of $60.00 will be the key support zone; below that, the Silver price could revisit the seven-month low of $55.63.

(The technical analysis of this story was written with the help of an AI tool. Know more.)

Silver FAQs Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.

Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.

Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.

Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.

Gold prices fell in Malaysia on Tuesday, according to data compiled by FXStreet.

The price for Gold stood at 541.60 Malaysian Ringgits (MYR) per gram, down compared with the MYR 545.61 it cost on Monday.

The price for Gold decreased to MYR 6,316.76 per tola from MYR 6,363.91 per tola a day earlier.

Unit measure

Gold Price in MYR

1 Gram

541.60

10 Grams

5,415.73

Tola

6,316.76

Troy Ounce

16,845.76

FXStreet calculates Gold prices in Malaysia by adapting international prices (USD/MYR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.

Gold FAQs Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.

Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.

Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.

The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.

(An automation tool was used in creating this post.)

The AUD/USD retreats slightly from the 0.6960 area, or a two-week high, touched during the Asian session on Tuesday, and, for now, seems to have snapped a three-day winning streak. The intraday downtick, however, lacks bearish conviction, warranting caution before confirming that a one-week-old recovery move from a three-month low has run out of steam.

From a technical perspective, the AUD/USD pair, so far, has been struggling to make it through the 38.2% Fibonacci retracement level of the November 2025-May 2026 rally. Furthermore, mixed momentum oscillators make it prudent to wait for a sustained move beyond the said barrier before positioning for an extension of the recent bounce from the very important 200-day Simple Moving Average (SMA) support near 0.6870.

In fact, the Moving Average Convergence Divergence (MACD) has turned slightly positive, hinting at a slight improvement in the upside momentum. However, the Relative Strength Index (RSI) near 42 suggests only modest directional pressure, consistent with a consolidative bias around current levels, warranting some caution for aggressive bullish traders as renewed tensions in the Strait of Hormuz support the US Dollar.

Meanwhile, initial support emerges at the 50% retracement at 0.6853, ahead of a deeper structural floor at the 61.8% Fibo. near 0.6752, with 0.6608 and 0.6425 marking subsequent retracement and cycle-low supports if selling extends. On the topside, a break above the 38.2% Fibo. at 0.6954 would open the way toward the 23.6% retracement barrier at 0.7079, while the cycle high around 0.7282 stands as a more distant objective should bullish momentum gain traction.

(The technical analysis of this story was written with the help of an AI tool. Know more.)

AUD/USD daily chart

Australian Dollar Price Last 7 Days The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies last 7 days. Australian Dollar was the strongest against the Canadian Dollar.

USDEURGBPJPYCADAUDNZDCHFUSD-0.13%-0.99%-0.10%0.04%-0.83%-0.85%-0.25%EUR0.13%-0.88%0.04%0.15%-0.71%-0.66%-0.12%GBP0.99%0.88%0.93%1.01%0.15%0.21%0.75%JPY0.10%-0.04%-0.93%0.17%-0.69%-0.64%-0.18%CAD-0.04%-0.15%-1.01%-0.17%-0.87%-0.80%-0.28%AUD0.83%0.71%-0.15%0.69%0.87%-0.01%0.59%NZD0.85%0.66%-0.21%0.64%0.80%0.01%0.51%CHF0.25%0.12%-0.75%0.18%0.28%-0.59%-0.51% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote).

Gold (XAU/USD) maintains its offered tone heading into the European session on Tuesday, albeit it holds above the $4,100 mark. Crude oil prices edge higher amid renewed tensions in the Strait of Hormuz, reviving inflationary concerns. This, in turn, triggers a fresh leg up in US Treasury bond yields, offering some support to the US Dollar (USD) and weighing on the non-yielding yellow metal for the second straight day. However, receding US Federal Reserve (Fed) rate-hike bets could act as a headwind for the Greenback and limit the downside for the bullion.

Tensions in the Strait of Hormuz remain high as Tehran attempts to cement strategic control and aims to collect fees from ships transiting through the critical waterway. Despite strong opposition from the US, Iran insists that the fees are for security, vessel supervision, and environmental protection, rather than tolls. Adding to this, a maritime agency reported that an oil tanker was struck by an unidentified projectile while transiting through the strait, complicating a fragile US-Iran peace deal and offering some support to crude oil prices.

Meanwhile, the soft US Nonfarm Payrolls (NFP) report for June tempered market bets that the US central bank will raise borrowing costs. In fact, traders shifted expectations from one to two Fed rate increases in 2026 to between zero and one hike. This keeps the USD bulls on the defensive and might hold back traders from placing aggressive bearish bets around the Gold. On the economic data front, the US ISM Services PMI eased to 54.0 in June from 54.5 in the previous month, matching consensus estimates and doing little to impress the USD bulls.

Investors, however, seem hesitant to place aggressive bets and opt to wait for more cues about the Fed's policy path. Hence, the focus now shifts to the release of the FOMC Minutes on Wednesday. Apart from this, geopolitical developments would drive the USD demand and provide some impetus to the Gold. In the meantime, the aforementioned fundamental backdrop makes it prudent to wait for strong follow-through selling before confirming that the recent recovery move from the year-to-date low, touched last week, has run out of steam.

XAU/USD daily chart

Gold could accelerate the intraday fall once the $4,100 mark is brokenThe XAU/USD pair keeps a bearish near-term bias below the 200-day Simple Moving Average (SMA) at $4,489.97 and within a descending channel. However, the Moving Average Convergence Divergence (MACD) indicator has turned positive, with the MACD line above the signal line and an expanding positive histogram. This suggests recovering bullish momentum, though not yet strong enough to challenge the dominant overhead structure. Moreover, the Relative Strength Index (RSI) at 44.16 remains below the 50 line, hinting at a still neutral to mildly bearish tone despite the recent bounce.

Meanwhile, $4,100 could act as a tentative floor ahead of more meaningful support at the channel bottom near $3,844.34, where a deeper slide would meet firmer demand. On the topside, immediate resistance appears at the top boundary of the descending channel near $4,296.64, where any recovery is likely to stall initially. This is followed by the 200-day SMA at $4,489.97 and a higher structural barrier near $4,572.41.

(The technical analysis of this story was written with the help of an AI tool. Know more.)

Interest rates FAQs Interest rates are charged by financial institutions on loans to borrowers and are paid as interest to savers and depositors. They are influenced by base lending rates, which are set by central banks in response to changes in the economy. Central banks normally have a mandate to ensure price stability, which in most cases means targeting a core inflation rate of around 2%. If inflation falls below target the central bank may cut base lending rates, with a view to stimulating lending and boosting the economy. If inflation rises substantially above 2% it normally results in the central bank raising base lending rates in an attempt to lower inflation.

Higher interest rates generally help strengthen a country’s currency as they make it a more attractive place for global investors to park their money.

Higher interest rates overall weigh on the price of Gold because they increase the opportunity cost of holding Gold instead of investing in an interest-bearing asset or placing cash in the bank. If interest rates are high that usually pushes up the price of the US Dollar (USD), and since Gold is priced in Dollars, this has the effect of lowering the price of Gold.

The Fed funds rate is the overnight rate at which US banks lend to each other. It is the oft-quoted headline rate set by the Federal Reserve at its FOMC meetings. It is set as a range, for example 4.75%-5.00%, though the upper limit (in that case 5.00%) is the quoted figure. Market expectations for future Fed funds rate are tracked by the CME FedWatch tool, which shapes how many financial markets behave in anticipation of future Federal Reserve monetary policy decisions.

Gold prices fell in Philippines on Tuesday, according to data compiled by FXStreet.

The price for Gold stood at 8,145.54 Philippine Pesos (PHP) per gram, down compared with the PHP 8,221.67 it cost on Monday.

The price for Gold decreased to PHP 95,009.77 per tola from PHP 95,895.99 per tola a day earlier.

Unit measure

Gold Price in PHP

1 Gram

8,145.54

10 Grams

81,456.93

Tola

95,009.77

Troy Ounce

253,365.10

FXStreet calculates Gold prices in Philippines by adapting international prices (USD/PHP) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.

Gold FAQs Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.

Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.

Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.

The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.

(An automation tool was used in creating this post.)

British Pound gains as easing Fed hike bets weigh on US DollarGBP/USD continues its winning streak for the ninth consecutive day, trading around 1.3390 during the Asian hours on Tuesday. The currency pair rises as the US Dollar (USD) faces headwinds as market participants scale back expectations for Federal Reserve (Fed) rate hikes this month and in September. This shift in sentiment followed a cooling employment report that revealed fewer jobs added across April, May, and June than Wall Street had anticipated.

Furthermore, a recent drop in crude oil prices, driven by an OPEC+ production boost and a US-Iran peace deal, has alleviated broader inflationary pressures, softening the urgency for an aggressive Fed policy outlook. Read more...

Pound Sterling rallies into its own coronationGBP/USD has quietly put together eight consecutive higher daily closes, a grind from near 1.3150 that has delivered the pair directly onto its 200-day Exponential Moving Average (EMA), with the 50-day EMA just beneath it and the 1.3400 handle immediately overhead. Monday added another modest gain: Cable based near 1.3350 through the London morning, then climbed all afternoon to stall just shy of 1.3400.

The interesting part is what did not stop it. A hawkish Federal Reserve (Fed) governor was on the wires mid-afternoon, US services data came in warm enough to keep the hike debate alive, and the pair rallied through all of it, which suggests Monday was less about fresh good news for the Pound and more about a Dollar that has run out of new arguments. Read more...

Primary gold mine supply growth has remained subdued over the past several years owing to rising costs of mine development and aging ore deposits. Silver mine production growth has also been limited although a good portion of silver production is a by-product of the output of other base metals such as copper, lead, and zinc.

The amount of recycled gold and silver supplied by the market is sensitive to precious metal prices, although there are other factors that determine recycling volumes (for example, the demand for gold bars, coins and exchange-traded funds, and for industrial users to consume silver.)

Silver has its own fundamental profile as it is used in many industrial fabrication processes (solar cell applications and other electrical uses being the most important examples.) This silver demand component has expanded rapidly in parallel with the transition to renewable energies and the electrification of industrial processes.

So in short the longer term price picture for gold and silver rests on central bank demand, slow new mine supply growth, and industrial demand (particularly for silver.) Other fundamental factors, for instance the level of debt, inflation, and fiscal trends, can impact the prices over time.

Gold Spot Holds $4,127 – Downward Trendline Breakout on 4h

Key Points:Sticky core inflation and fiscal deficits have reinforced the US Dollar’s strength amid monetary policy divergence.DXY held at $100.93 with green continuation candles retesting Fibonacci 0.618 level.EUR/USD defended $1.1430 blue trendline support with green rejection candles absorbing selling pressure.GBP/USD held $1.3380 resistance zone, testing key levels with mixed candles and neutral momentum.

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Currencies Reflect Divergent Monetary Policies and Economic Fundamentals Dollar, euro and pound rates are still subject to conflicting central bank policies and economic forces as of July 7. On the one hand, the U.S. Federal Reserve’s wait-and-see policy in the face of ongoing core inflation is sustaining dollar rates on the basis of expectations for a relatively tight rate setting in the foreseeable future; on the other hand, there is domestic demand and the status quo for dollars as reserve currency.

A mix of divergent fiscal settings and disparate inflation pressures in various parts of the euro zone and the European Central Bank’s push toward price stability characterize the euro. Policy pass-through in the area remains contingent on a range of national policies, keeping rates sensitive to growth and wage data.

As with other currencies, the Bank of England is considering both services inflation and softness in economic growth, and its policy path is a function of these variables, alongside UK fiscal policy and labor market trends, and relative policy settings for other central banks, which is what largely drives the cross rates with the dollar and euro.

Divergent inflation paths, fiscal settings and growth resilience in the three economies create two-sided risks, with trade and capital flows further driving currency differentiation, as markets seek to discern which central bank will best provide stability and growth.

DXY Holds $100.93 – Fibonacci 0.618 Retest on 1D Dollar Index Price Chart – Source: Tradingview DXY is sitting at $100.93 on the daily time frame. Following a breakout from the $97.67 low, buyers retested the 0.618 Fibonacci retracement zone around $100.31, creating green and red mixed candles. The asset continues to make higher highs, suggesting the upside remains intact above the $100.31 price level and its ascending white trendline.

With RSI hovering around 58, the DXY maintains a neutral-to-bullish bias. The $100.31 zone now serves as a breakout pivot point, per the volume profile, while the next 103 Fibonacci extension sits near $103.09 within the next couple of weeks. The market continues trading in an ascending channel and the higher highs/lows structure keeps the trend bullish.

Trade Idea: Buy at $100.93 with a target of $103.09 and a stop loss under $100.31.

GBP/USD Holds $1.3380 – White Descending Trendline Test on 4h GBP/USD Price Chart – Source: Tradingview GBP/USD is trading at $1.3380 within the 4h timeframe. After getting rejected off the red moving average around $1.337, buyers tested the descending white trendline around $1.3380 and formed green and red mixed candles. The price creates bullish rejection wicks and continues to keep higher highs within the chart. Currently, RSI sits around 67 and is still neutral on the 4h timeframe.

The $1.331 to $1.338 zones are a pivot area, per the volume profile, with the next zone of support around $1.325 to $1.331. GBP/USD still trades in a bullish trend and is still neutral and above its trendline. Higher highs and lows are still in place, and the trendline continues to hold the price higher within the trading range.

Trade Idea: Buy at $1.3380 with a target of $1.345 and a stop loss under $1.325.

EUR/USD Holds $1.1430 – EMA 50 Defense on 4h EUR/USD Price Chart – Source: Tradingview EUR/USD is trading at $1.1430 within the 4h timeframe. After getting rejected off the red moving average around $1.162, buyers retested the 50 EMA around $1.1419 and formed green and red mixed candles. The price creates bullish wicks and continues to keep higher lows within the chart.

Currently, RSI sits around 52 and is still neutral on the 4h timeframe. The $1.140 to $1.150 zones are a pivot area, per the volume profile, with the next zone of resistance around $1.155 to $1.162. EUR/USD still trades in a bullish trend and remains neutral and above its 50 EMA. Higher highs and lows are still in place, and the 50 EMA continues to hold the price higher in the near-term.

Trade Idea: Buy at $1.1430 with a target of $1.155 and a stop loss under $1.140.

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Commerzbank’s Volkmar Baur notes EUR/USD has been stuck between 1.1350 and 1.1450 since mid-June, with few catalysts expected over the summer. He highlights that the European Central Bank (ECB) is likely to delay its next rate hike to September and that the Federal Reserve (Fed) is also unlikely to deliver clear signals, which should limit US Dollar (USD) strength and gradually support the Euro (EUR) into next year.

Rangebound pair awaits autumn drivers"Since mid-June, EUR/USD has been fluctuating between 1.1350 and 1.1450, and one is slowly getting the feeling that this could continue for a while longer."

"It therefore seems probable that the ECB will leave the key interest rate unchanged, while at the same time making it clear that another rate hike is possible but not yet certain."

"As for the Fed, the market is currently still pricing in slightly more than one rate hike by year-end. In September, Kevin Warsh will have to say a bit more than just “task force” when asked about the economic situation. We continue to expect that he will not raise interest rates - a development that is likely to weigh on the dollar."

"And the closer we get to next year, the stronger the support for the euro is likely to become. Yesterday’s German industrial orders data showed that a cyclical recovery is slowly taking shape. Structural reforms and expansionary fiscal policy should also help Germany and Europe grow faster next year."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)

Gold is attempting to break its medium-term trend, with the latest US labour market data acting as the main catalyst. The US employment report released on 2 July came in noticeably weaker than expected, with the pace of hiring slowing to its lowest level in several months. This may have dampened expectations of a near-term Federal Reserve rate hike, while the minutes of the Fed’s June meeting, due to be released on 8 July, could provide further insight into how long this pause in the central bank’s rhetoric is likely to last. For now, markets are pricing in a more dovish scenario, supporting safe-haven assets such as gold.

Technical Analysis

On the four-hour chart, XAU/USD declined from the $4,221 area in late June to around $3,942, where a recovery began. The decline formed a descending wedge, with its lower boundary attracting strong buying interest. This resulted in a sharp rebound, accompanied by a decisive breakout above both the pattern and the current market profile.

On 2 July, price closed above the upper boundary of the market profile at $4,091 and, if the rally continues, could target the base of the wedge. Should the market reverse, price is likely to retest the profile’s high-volume area, while the Point of Control (POC) at $4,030 and the lower profile boundary at $3,971 could provide support for buyers.

The RSI + MAs indicator currently stands at 62, 65 and 55. All three lines remain above the neutral level and continue to point higher, while the moving averages are still signalling bullish momentum. However, it is worth noting that the RSI has already entered overbought territory, suggesting that expectations for a substantial continuation of the rally should remain cautious.

Key Takeaways The breakout from the descending wedge may have been interpreted by market participants as the beginning of a local trend reversal. However, a move towards the red resistance zone and a test of that area remain highly uncertain, particularly ahead of the release of the Federal Reserve’s June meeting minutes, which could significantly reshape market expectations.

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Evropské i americké futures naznačují opatrný začátek obchodování. Začíná summit NATO, od něhož si trhy slibují další impulsy pro obranný sektor, zatímco útoky na obchodní lodě v Hormuzském průlivu znovu podpořily ceny ropy.

Článek se odemkne 07.07.2026 9:57

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7.7.2026 09:00

Přední asijsko-pacifické indexy uzavírají úterní seanci v červených číslech. Indexy táhnou směrem dolů především technologické tituly. Společnost Samsung (-6,9 %) reportovala kvartální čísla. Přestože společnost ohlásila devatenáctinásobný meziroční růst zisku, tak výsledky zaostaly za očekáváním trhu, což přimělo investory alokovat kapitál do více defenzivnějších titulů. 

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Zdroj: Bloomberg

Jakub Němec
Fio banka, a.s.
Prohlášení

Space Exploration Technologies' (SPCX 0.97%) (SpaceX) initial public offering (IPO) was undoubtedly the most hyped IPO in recent stock market memory. It didn't disappoint, either, setting the record for the largest IPO in stock market history, with an initial valuation of around $1.77 trillion. Now, it's valued at over $2.1 trillion as of market close on July 2.

In the short time since its June 12 IPO, SpaceX's stock is relatively flat (from the price the average investor could have paid), experiencing roller coaster ups and downs. Still, there's a lot of hype surrounding both the company and the stock -- but is it overhyped? It depends on how you define it.

Image source: The Motley Fool.

SpaceX is going just beyond rockets SpaceX is transforming from a rocket launch company into a respectable conglomerate with thriving subsidiaries under its wing. It has its core launch business, which is the largest in the world; Starlink is growing impressively and providing internet to some of the most remote places globally; and X's (formerly Twitter) parent company, xAI, has artificial intelligence infrastructure that many tech companies would give their right arm for.

Much of the appeal of SpaceX's business, however, is its ambitious plan for the future. Moonshot plans (no pun intended) like data centers in space and everyday human space travel spark the interest of investors and Elon Musk fans who see SpaceX's trajectory mirroring that of Musk's other company, Tesla. Tesla's returns have been just above the S&P 500's over the past five years, but it's up over 30,600% since its July 2010 IPO.

We can't predict how SpaceX's stock will perform, but it has businesses worth being excited about.

Today's Change

(

-0.97

%) $

-1.58

Current Price

$

160.42

If by overhyped, you mean that SpaceX is all promise and nothing to show, then I would say no, it's not. If by overhyped you mean extremely expensive for a business that is currently operating at a loss and built on (very) long-term promises, then I would say yes.

Taking SpaceX's $18.7 billion in revenue in 2025 and its $2.1 trillion valuation, it's currently trading at 112 times its sales (P/S ratio). For comparison, here are the P/S ratios for some notable companies and their year-over-year revenue growth last quarter:

CompanyP/S RatioLatest Revenue GrowthBroadcom23.348%Nvidia18.885%Alphabet10.422%Apple10.117%Amazon3.517% Source: YCharts. P/S ratios as of market close on July 2.

These aren't apples-to-apples comparisons, but the larger point is how much of a premium you'd be paying for SpaceX's stock right now, even before seeing one quarterly earnings report as a public company.

This isn't a knock on SpaceX as a company by any means, but a great company doesn't always make a great investment. If you already own shares, I would hold onto them (you should be focused on the long term either way), but if you're thinking about making your first investment, I would wait it out a bit.

Stefon Walters has positions in Apple. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Broadcom, Nvidia, and Tesla. The Motley Fool has a disclosure policy.