China’s AI Manufacturing Boom Masks Weak Consumer Economy, Citi Says 
Yen Near 40-Year Lows Despite BOJ Rate Hike, Markets Brace for Possible Intervention 
Europe EV Demand Surges as Fuel Prices Rise Amid Iran Conflict 
Russian Stocks End Flat as MOEX Index Hits New 52-Week Low 
Trump Questions USMCA Renewal as Trade Talks Continue 
Trump Says No Hormuz Strait Tolls During 60-Day Iran Ceasefire 
German Industry Employment Falls to Lowest Level in a Decade 
France Faces Long Road to Economic Rebalancing as Weak Demand and High Rates Weigh, Says Citi 
Oil Prices Slide as U.S.-Iran Deal and Hormuz Reopening Ease Supply Concerns 
Gold Price Rises as Investors Weigh U.S.-Iran Talks and Fed Policy Outlook 
China Keeps Loan Prime Rates Unchanged for 13th Straight Month as Policymakers Prioritize Credit Demand Recovery 
US Stock Futures Slip After Wall Street Rally Fueled by US-Iran Deal and Chipmaker Surge 
Japan Signals Readiness to Intervene as USD/JPY Nears 161 Amid Yen Weakness 
Gold Prices Slide as Hawkish Fed and Strong Dollar Weigh on Bullion 
Asian Stocks Rally as Japan and South Korea Reach Record Highs on US-Iran Peace Deal 
Dollar Hits One-Month High as Hawkish Fed Outlook Boosts Greenback 
Asian Stocks Surge as Oil Prices Fall and Strong US Dollar Weighs on Markets 
Asian shares climbed Monday, fueled by strong demand for tech giants like Nvidia, Alphabet, and Amazon, pushing S&P 500 futures to a fresh all-time high. Nasdaq futures rose 0.3%, while S&P 500 e-minis added 0.2%. Japan’s Nikkei jumped 1%, South Korea’s KOSPI gained 0.5%, and MSCI’s Asia-Pacific index outside Japan edged up 0.1%.
The bullish sentiment came despite caution over U.S. fiscal policy. Investors are watching progress on President Trump’s massive tax-and-spending bill, which the Congressional Budget Office estimates could add $3.3 trillion to U.S. debt. Meanwhile, Friday’s holiday brings U.S. non-farm payrolls data forward, with economists forecasting a modest 110,000 job gain and a rise in the unemployment rate to 4.3%.
Weaker labor data could boost odds of a July rate cut from the Federal Reserve. JPMorgan’s Michael Feroli noted that rising continuing claims and falling consumer confidence point to softening job conditions. A higher unemployment print could shift futures to price in deeper cuts beyond the currently expected 63 basis points for 2025.
U.S. Treasury yields held steady at 3.27% as easing expectations supported bonds despite concerns over ballooning deficits. However, the dollar weakened on expectations of slower growth and rate cuts. The euro hovered at $1.1731, sterling at $1.3719, and the yen strengthened to 144.48 per dollar. The U.S. dollar index slipped to 97.163, with Capital Economics warning further declines may trigger a broader selloff.
Gold prices fell to $3,266/oz as risk appetite returned, while oil extended its losses. Brent crude dropped to $67.22 and WTI to $64.84 amid concerns over rising OPEC+ supply and last week’s steep 12% drop.
