Wall Street Reaches New Record Highs as AI Boom and Iran Ceasefire Hopes Boost Markets 
Canada and Germany Advance Major LNG Supply Partnership 
UK Grocery Inflation Slows to 3.1% as Supermarket Price Pressures Ease in May 2026 
S&P 500, Nasdaq Hit Record Highs as Iran Ceasefire Talks and AI Rally Boost Markets 
European EV Sales Surge in April 2026 as Tesla and Chinese Automakers Gain Ground 
US Launches New Trade Investigation Into Vietnam Over Intellectual Property Concerns 
US Imposes Fresh Iran Oil Sanctions Despite Progress on Ceasefire Talks 
Gold Prices Slip as Stronger Dollar and Iran Peace Talk Uncertainty Weigh on Market 
US Dollar Slips as Markets Weigh Potential US-Iran Peace Deal and Oil Price Outlook 
ECB’s Philip Lane Warns Middle East Conflict Could Keep Inflation Elevated 
Nikkei Hits Record High as AI Chip Stocks Power Japan Market Rally 
Asian Currencies Steady as U.S.-Iran Ceasefire Extension Hopes Weigh on Dollar 
European Stocks Rise as AI Optimism Offsets U.S.-Iran Tensions 
Asian Stocks Rally as AI Boom and Iran Ceasefire Progress Lift Market Sentiment 
Iran-U.S. Nuclear Talks Remain Unresolved as Strait of Hormuz Risks Keep Markets on Edge 
S&P 500 Hits Record High as Tech Rally Slows Amid Iran Peace Uncertainty 
Asian Currencies Steady Amid Market Fluctuations
Most Asian currencies steadied on Thursday, following recent declines, as the Japanese yen lingered near three-month lows. The U.S. dollar remains supported by expectations of a slower pace of interest rate cuts, reflecting ongoing market uncertainty.
Increased risk aversion impacted regional currencies, with traders cautious ahead of a tight U.S. presidential race and rising tensions in the Middle East. The dollar and gold benefited from this risk aversion, while the yen struggled to attract safe-haven demand amid doubts about the Bank of Japan's (BOJ) capacity to raise interest rates further.
Japanese Yen Stabilizes with Intervention Concerns
The Japanese yen's USDJPY pair saw slight declines on Thursday after reaching a near three-month high in the previous session. Support for the yen emerged as Japanese officials warned against “one-sided” moves in the currency market, heightening fears of potential intervention. However, weak purchasing managers index (PMI) data indicated a contraction in business activity for October, keeping the yen fragile.
Anticipation of general elections in Japan this Sunday raises further doubts about future BOJ rate hikes. The ruling Liberal Democratic Party may need to form a coalition to maintain power, complicating the BOJ's monetary policy decisions.
Dollar Remains Strong Amid Rising Yields
The dollar index slightly dipped but remained close to three-month highs, bolstered by rising Treasury yields. Market expectations suggest the Federal Reserve may only cut rates by 25 basis points in November, supported by signs of resilience in the U.S. economy.
As broader Asian currencies made modest gains, the Australian dollar (AUDUSD) rose by 0.2%, while the South Korean won (USDKRW) remained stable after disappointing GDP data. The Chinese yuan (USDCNY) declined by 0.2%, while the Singapore dollar (USDSGD) and Indian rupee (USDINR) experienced slight drops.
