Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Asian Stocks Slide as Nikkei Leads Losses on Tech Selloff and Rising U.S.-Iran Tensions 
AI Chip Stocks Face Valuation Pressure as Investors Shift Toward Big Tech and Software 
Nikkei Plunges 5% as AI Stock Selloff Spreads Across Asia 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
US Stock Futures Fall as Netflix Outlook, Chip Selloff and Iran Tensions Weigh on Markets 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Brazil Weighs IP Curbs, Patent Suspensions After New U.S. Tariffs 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
Asian currencies traded mostly flat to lower on Friday as stronger-than-expected U.S. nonfarm payrolls data dampened hopes for near-term interest rate cuts, offering support to the U.S. dollar. The greenback trimmed its weekly losses after a strong labor report boosted confidence in the resilience of the U.S. economy, prompting markets to reassess the timing of Federal Reserve rate cuts.
The dollar index slipped 0.1% in Asia but remained firm after overnight gains. CME FedWatch data showed the probability of no rate cut in September rising sharply to 32%, although markets still priced in a 63.8% chance of a 25 basis point cut.
The Japanese yen weakened, with USDJPY up 0.3% despite strong May household spending data suggesting persistent inflationary pressure. The Australian dollar edged lower after weak trade figures, while traders braced for a possible rate cut by the Reserve Bank of Australia next week. The Singapore dollar held steady, while South Korea’s won slipped 0.1%.
China’s yuan remained muted, despite Beijing unveiling new stimulus measures and noting progress in U.S.-China trade relations after Washington eased chip export controls. Meanwhile, Taiwan’s dollar strengthened to its highest in over three years, supported by optimism around semiconductor exports amid improving U.S.-China ties.
The Indian rupee was largely unchanged. Regional sentiment remained fragile ahead of a July 9 deadline when U.S. President Donald Trump is expected to impose steep tariffs on major economies. Trump signaled he may start notifying countries of tariff rates as early as Friday.
Markets remain cautious over the potential global impact of Trump’s sweeping tax and spending bill, which could add $3.3 trillion to U.S. debt over the next decade, raising fiscal sustainability concerns amid growing trade tensions.
