Limit Up! 17th June 2025

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Overnight

 

Economic Indicators Released Overnight

 

Markets ignored the minor economic releases and focused on the G7 communique, ongoing conflict and the next step by Iran, as US aircraft carriers and refuelling planes were dispatched to the area.

 

The G7 meeting discussions were entirely geopolitical

Middle East & Iran–Israel Conflict

• The G7 issued a joint statement firmly supporting Israel’s right to self‑defence, identified Iran as a source of regional instability, and insisted Iran must never obtain nuclear weapons .

• Leaders called for urgent de-escalation, including pushing for a ceasefire in Gaza, and pledged to collaborate on stability in global energy markets.

• U.S. President Trump departed the summit early to address the crisis directly, underlining the G7’s regional focus and his administration’s strong pro‑Israel stance

Trump says everyone should immediately evacuate Tehran [Reuters]

Twenty-Year Bond Auction Attracts Above Average Demand [RTT News]

A solid day for US stock markets

US Equities

Breaking

Bitcoin

BTC continues to grind higher, with some big buyers publicly in the headlights.

BITCOIN/USD Daily

Commodities

The weekly chart on Brent offers a good view. Close this week above $79.00 to confirm the trend higher, or below $68.00 to establish 2 candles of bull trap, or more chop. 

SPOT BRENT Daily

Foreign Exchange

Continued strength of the Loonie vs the USD possibly reflecting reallocation of capital, as EUR/CAD is a horizontal line when the chop is taken away.

USD/CAD Daily

Bonds

And maybe rising Canadian yields are attracting that capital.

Canada 10 Year Government Bond Yield Daily

Equities

The NASDAQ still can't break out of the bull flag.

NASDAQ COMPOSITE Daily

Economic Indicators Today