EUR/USD: 2-way trades are likely – OCBC

SpaceX joins the Nasdaq-100 on July 7, triggering $4.3B in forced buying from QQQ into a stock with only 3–5% public float. SPCX at $160.96 with 10M Starlink subscribers and $27.8B in AI compute contracts.

Japanese and South Korean stock markets surged at the open. The KOSPI Index jumped 2.71%, with Samsung Electronics surging over 4%, while Kioxia and SK Hynix followed the upward trend. SoftBank fell 2%.

In the second half of the year, if the Federal Reserve initiates actual rate cuts before year-end, and Microsoft improves its internal metrics—such as maintaining Azure's revenue growth rate above 38% and achieving a higher-than-expected corporate conversion rate for Copilot—it will help its stock price break through the upper resistance of its trading range and potentially challenge its historical high of $550. However, if Microsoft’s AI monetization stalls significantly, particularly in the event of a Federal Reserve rate hike, the company may fail to hold its key line of defense and head toward the next critical support level at $200.

TradingKey - PepsiCo (PEP) rebounds near $143 ahead of Q2 earnings. Analysts remain divided as stronger snack volumes and a 4% dividend hike support recovery.

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