Articles

• High-yield 4.942%
• WI level at the time of the auction 4.942%
• Tail 0.0 basis points versus six month average of 0.1 basis points
• Bid to cover 2.68X vs six month average of 2.59X
• DIrects (domestic demand) 19.9% versus six month average of 18.1%
• Indirects(proxy for international demand 66.7% versus six month average of 67.2%
• Dealers (they take the residual) 13.4% versus six month average of 14.8%.

AUCTION GRADE: C+

Close to a C, but feeling generous.

This article was written by Greg Michalowski at www.forexlive.com.

French, German and British foreign ministers to hold a phone call with Iranian Foreign Minister on Monday evening in an attempt to slow the progress of the aggressions.

This article was written by Greg Michalowski at www.forexlive.com.

More missiles are being launched from Iran toward Israel with Israel’s Channel 12 and Channel 14 asking their staffs to prepare for immediate evacuation.

Meanwhile Israeli PM Netanyahu says he is not interested in peace talks with Iran. From experience with Hamas, once a mission is started Netanyahu tends not to back down.

UPDATE from Iran state media: Iranian air defense activated at Isfahan nuclear facilities against ‘hostile target’

US stocks remain higher with the Dow industrial average up 0.82%. The S&P index 0.94%, and the NASDAQ index up to 1.39%.

This article was written by Greg Michalowski at www.forexlive.com.

It sure doesn’t look like de-escalation today. Israel bombed Iran TV and now Iran’s state media says the country is preparing for the the ‘largest and most intense missile attack in history on Israeli soil’.

This article was written by Adam Button at www.forexlive.com.

• We’re going to see if we can get to the bottom of [a deal] today
• I’m a tariff guys
• We have different ideas, we’re going to Carney’s ideas too
• It’s achievable, sure

This article was written by Adam Button at www.forexlive.com.

Trump and Carney are meeting behind closed doors and reportedly will appear together afterwards. It’s fallen a bit behind schedule, which is frequent with Trump but could mean some lack of cohesion.

Keep an eye on it.

USD/CAD is down 27 pips to 1.3559.

This article was written by Adam Button at www.forexlive.com.

Various reports and live streams show a bombing of the Iranian Broadcasting Corporation. This no longer looks like a campaign to disable nuclear and ballistic missile capabilities.

Reportedly, the network is back on the air and the host dared Israel to attack again.

This article was written by Adam Button at www.forexlive.com.

Historic Strike: A Symbolic Blow to the Iranian Regime

In what may mark a turning point in the Iran-Israel confrontation, Israeli forces reportedly struck the headquarters of the Islamic Republic of Iran Broadcasting (IRIB), Iran’s state-run television and radio organization. This unprecedented attack not only silenced a key propaganda arm of the regime, but also delivered a symbolic and psychological blow with potentially wide-reaching implications inside Iran.

The Symbolism of Targeting IRIB

While Iran operates many media channels, the IRIB carries unparalleled symbolic value. Throughout Iranian history, control over state television has represented control over the regime itself. During the 1979 Islamic Revolution, one of the first indicators that the Shah’s rule was collapsing came when revolutionaries took control of the national broadcaster.

In Iranian collective memory, when the regime loses control over state media, it signals a collapse of authority. The interruption of IRIB’s broadcasts is more than a technical event—it resonates deeply in the national psyche as a sign that the foundations of power are being challenged.

Footage broadcast by outlets such as Iran International captured the moment broadcasts were cut mid-air, and early reports indicated that residents in central Tehran, near government complexes, were instructed to evacuate following the strike. Eyewitnesses described hearing explosions in the vicinity of the broadcast towers.

Dual Messaging from Iran: Dialogue and Threats

Simultaneously, Tehran is sending conflicting signals. On one hand, Iranian officials have hinted at an interest in halting the escalation and returning to diplomatic negotiations. Some even floated openness to conditions previously considered non-negotiable, such as suspending uranium enrichment.

Yet on the other hand, Iran continues to issue ominous threats, including the potential deployment of “a new type of weapon” that could inflict lasting damage on Israel. Iranian regime figures, such as Mohsen Razaei—former commander of the Revolutionary Guard—have vowed to fight “until victory over Israel,” keeping tensions at a boiling point.

This strategic ambiguity may reflect internal disarray or a calculated effort to stall for time while assessing the extent of the damage and next moves.

Mounting Civil Pressure Inside Iran

Domestically, Iran is under severe internal pressure.

• Gasoline rations have been slashed to 15 liters per citizen in a country rich with oil reserves.

• Long fuel queues are forming across major cities.

• There is widespread public distrust in government evacuation guidance, with some social media voices warning citizens not to enter metro stations or mosques out of fear the regime might use them as targets to blame Israel.

• Tehran is reportedly beginning to empty out as citizens seek refuge in northern regions like the Caspian coast.

All this reinforces the perception that the Iranian regime is losing its gri, not only militarily but socially and psychologically.

Military Action with Political Objectives

While Israeli defense officials stress that the operation is not over and many targets remain, analysts suggest the campaign is not only military—it is designed to reshape the political endgame.

Indeed, some Israeli commentators see this strike as a prelude to a longer-term diplomatic reset, in which Iran is forced into a more durable agreement under maximum pressure. “You can’t destroy the nuclear program completely,” noted analyst Nir Dvori. “But you can set them back significantly and change the strategic equation.”

What Comes Next for Iran?

The targeted strike on IRIB may go down as one of the most symbolically powerful moves in modern regional conflict. Whether it signals the beginning of a wider campaign against the Iranian regime itself, or serves as a psychological lever toward renewed negotiations, remains to be seen.

But for now, the images from Tehran tell a story of disruption, panic, and vulnerability – a regime shaken not just by military might, but by a collapse in its narrative control.

This article was written by Itai Levitan at www.forexlive.com.

• European Commission says reports suggest the EU accepts a US tariff of 10% are speculative and do not reflect current state of discussions
• The EU has from the start objected to unjustified and illegal US tariffs

The euro is up 36 pips to 1.1586 today but down modestly in the last hour.

This article was written by Adam Button at www.forexlive.com.

The post Ex-Dividend 17/6/2025 first appeared on IC Markets | Official Blog.

Strong bids continue to lift US equity markets today and the S&P 500 is now up 1.2%, erasing Friday’s losses and threatening last week’s highs. The Nasdaq is also up 1.6%.

Leaders include Meta, Intel, Nike, Goldman Sachs and travel names that were hurt on Friday.

The market doesn’t seem to mind Israel and Iran fighting so long as the US doesn’t get involved, which hasn’t been the case so far.

This article was written by Adam Button at www.forexlive.com.

Two Iranian and three regional sources cited by Reuters.

In exchange Iran is said to offer more flexibility in nuclear negotiations.

Separately, a joint G7 draft statement calls on Israel and Iran to de-escalate but Trump hasn’t signed off on it.

This article was written by Adam Button at www.forexlive.com.