Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
Dollar Rises as Middle East Conflict Fuels Inflation and Rate Hike Fears 
South Korea’s KOSPI Triggers Trading Curb as AI Chip Stock Selloff Deepens 
South Korea Central Bank Set to Raise Interest Rates as Inflation Stays Elevated 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
European Stocks Slip as Middle East Tensions and Hormuz Threat Rattle Markets 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Asian Currencies Weaken as Stronger Dollar Weighs, Yen Supported by GPIF Repatriation Hopes 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Iraq PM Visits Washington as U.S. Oil, Gas Deals Take Center Stage 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Gold Prices Fall as US-Iran Conflict, Rising Oil Prices Fuel Fed Rate Concerns 
Most Asian currencies gained ground on Thursday as the U.S. dollar extended its losing streak for a ninth consecutive session, driven by renewed optimism surrounding potential U.S.-Iran peace talks ahead of next week's ceasefire deadline. The dollar index slipped approximately 0.1%, hovering near its weakest point in six weeks, as improving global risk appetite reduced demand for safe-haven assets.
Across the region, the Japanese yen strengthened 0.2% against the dollar, while the South Korean won advanced 0.3%. The Singapore dollar, Indian rupee, and Taiwan dollar each posted modest gains of around 0.1% to 0.2%, reflecting a broadly positive sentiment across emerging Asian markets.
The Chinese yuan stood out as the exception, trading flat near 6.8 per dollar — its strongest level in three years — despite China reporting better-than-expected first-quarter GDP growth of 5%, surpassing the forecasted 4.8% and accelerating from the previous quarter's 4.5% expansion. While exports fueled much of this growth alongside improving domestic spending, China's heavy reliance on trade could face challenges tied to ongoing war-related shipping disruptions and rising energy costs.
Adding to dollar weakness, U.S. producer inflation came in softer than anticipated, reinforcing market speculation that the Federal Reserve could still implement interest rate cuts before year-end.
Meanwhile, the Australian dollar climbed nearly 0.4%, reaching its highest level since June 2022. Although Australian employment growth in March came in slightly below forecasts and slowed considerably from February, the labor market remained tight enough to keep further Reserve Bank of Australia rate hikes on the table. The RBA, which raised rates by 25 basis points in March, continues to monitor inflationary risks linked to the ongoing Iran conflict.
Overall, easing geopolitical tensions and softer U.S. economic data combined to lift regional currencies while weighing on the greenback.
