Gold Prices Stabilize in Asian Trade After Sharp Weekly Losses Amid Fed Uncertainty 
China and Uruguay Strengthen Strategic Partnership Amid Shifting Global Order 
South Korea Inflation Hits Five-Month Low as CPI Reaches Central Bank Target 
South Korea Factory Activity Hits 18-Month High as Export Demand Surges 
Dollar Holds Firm as Strong U.S. Data, Fed Expectations and Global Central Bank Moves Shape Markets 
Philippines Manufacturing PMI Hits Nine-Month High Despite Weak Confidence Outlook 
Taiwan Urges Stronger Trade Ties With Fellow Democracies, Rejects Economic Dependence on China 
Asian Markets Slide as Silver Volatility, Earnings Season, and Central Bank Meetings Rattle Investors 
Starmer’s China Visit Highlights Western Balancing Act Amid U.S.-China Rivalry 
Asian Currencies Strengthen as Indian Rupee and Australian Dollar Rally 
Gold, Silver, and Platinum Rally as Precious Metals Recover from Sharp Selloff 
Indian Rupee Strengthens Sharply After U.S.-India Trade Deal Announcement 
IMF Forecasts Global Inflation Decline as Growth Remains Resilient 
U.S. Stock Futures Slip as Markets Brace for Big Tech Earnings and Key Data 
India Budget 2025 Highlights Manufacturing Push but Falls Short of Market Expectations 
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.
