Wall Street Hits New Highs as U.S.-Iran Ceasefire Talks Boost Market Sentiment 
South Korea Central Bank Holds Interest Rates Steady Amid Inflation Concerns 
New World Screwworm Found Near U.S. Border Raises Threat to Cattle Industry and Beef Prices 
Oil Prices Fall as Markets Await U.S.-Iran Peace Deal Decision 
Dow Hits Record High as Healthcare and Consumer Stocks Lead Wall Street Rally 
ECB’s Philip Lane Warns Middle East Conflict Could Keep Inflation Elevated 
European EV Sales Surge in April 2026 as Tesla and Chinese Automakers Gain Ground 
U.S. Sanctions Iran’s Strait of Hormuz Authority as Global Oil Markets Face Turmoil 
Asian Currencies Steady as U.S.-Iran Ceasefire Extension Hopes Weigh on Dollar 
Asian Stocks Rally as AI Boom and Iran Ceasefire Progress Lift Market Sentiment 
Gold Prices Hold Near Record Levels as Inflation Concerns Offset Middle East Ceasefire Hopes 
UK Grocery Inflation Slows to 3.1% as Supermarket Price Pressures Ease in May 2026 
U.S. Launches New Strikes on Iran as Trump Signals Peace Deal Uncertainty 
US Dollar Slips as Markets Weigh Potential US-Iran Peace Deal and Oil Price Outlook 
Nikkei Hits Record High as AI Chip Stocks Power Japan Market Rally 
US Launches New Trade Investigation Into Vietnam Over Intellectual Property Concerns 
Asian currencies weakened on Friday yet remained on track for weekly gains as optimism over potential U.S. trade agreements supported market sentiment. Investors are closely watching Tokyo’s latest inflation data for signals on the Bank of Japan’s (BOJ) next policy move, while attention shifts to upcoming interest rate decisions from both the BOJ and U.S. Federal Reserve.
The U.S. Dollar Index, which tracks the greenback against major currencies, rose 0.3% during Asian trading hours, with Dollar Index Futures up 0.2%. Despite Friday’s uptick, the dollar has seen sharp losses this week, allowing most regional currencies to advance.
Reports indicate a key U.S.-EU trade deal is nearing completion, potentially replacing a planned 30% tariff with a 15% levy on EU exports by August 1. Indian Commerce Minister Piyush Goyal expressed optimism about securing a U.S. trade agreement to avert proposed 26% tariffs. Earlier this week, President Donald Trump confirmed a U.S.-Japan trade deal lowering tariffs on Japanese imports to 15% from the previously planned 25%, boosting expectations for similar agreements with other nations.
Among major Asian currencies, the South Korean won slipped 0.3% after five days of gains but was still set for a 1% weekly rise. The Chinese yuan traded 0.2% higher in both onshore (USD/CNY) and offshore (USD/CNH) markets, while the Singapore dollar and Indian rupee also edged lower. The Australian dollar eased 0.1% but headed for a significant weekly jump.
Tokyo’s July CPI data showed inflation easing more than expected, though core figures stayed above BOJ’s target, maintaining speculation over a potential rate hike later this year. The Japanese yen weakened 0.3% Friday amid ongoing political uncertainty and speculation about Prime Minister Shigeru Ishiba’s possible resignation.
