China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Asian currencies rose on Thursday, driven by a weaker U.S. dollar after President Donald Trump adopted a softer tone on trade and affirmed progress with China. The South Korean won and Japanese yen led gains as investor sentiment improved slightly amid easing tensions.
The U.S. Dollar Index slipped 0.3% in Asian trading, hitting its lowest in over six weeks, while futures also fell 0.3%. The decline followed lower-than-expected U.S. consumer inflation data, fueling expectations of potential Federal Reserve interest rate cuts later this year.
Trump stated on Wednesday that a trade framework with China was “done,” pending approval from both him and Chinese President Xi Jinping. The deal allows China to export rare earth minerals and keeps U.S. access open for Chinese students. However, key tariffs will remain — with the U.S. maintaining a 55% average tariff on Chinese imports and China keeping a 10% tariff on U.S. goods. Trump noted he will send “take it or leave it” trade offers to other partners ahead of a July 9 deadline but left the door open for a possible extension.
Currency markets reacted modestly, reflecting caution due to Trump’s previous reversals on tariff decisions. The Korean won surged, with USD/KRW dropping 0.8% on optimism over President Lee Jae-myung’s promise to tackle unfair trade practices. The yen strengthened, with USD/JPY falling 0.4%. The Chinese yuan edged 0.2% higher in both onshore and offshore trading.
Meanwhile, the Singapore dollar and Indian rupee saw little change, while the Australian dollar slipped 0.2% amid muted risk appetite. Analysts warned against assuming trade tensions are fully resolved despite positive developments.
Markets now await further clarity ahead of the Federal Reserve’s policy meeting next week.
