SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
Asian Stocks Slip as US-Iran Ceasefire Hopes Lift Oil, Dollar Strength Persists 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
China Sets 1.25% Overnight Reverse Repo Rate Below Market Expectations 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Japan Targets 1%+ Real Economic Growth With ¥370 Trillion Investment Plan 
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
China Factory PMI Seen Returning to Growth in June as AI Export Demand Supports Economy 
China Expands Export Controls, Adds 20 Japanese Companies to Restricted List 
Asian Currencies Stabilize as Markets Await China Stimulus
Most Asian currencies remained stable on Thursday, as investors awaited clearer signals on potential financial stimulus from China. Meanwhile, the U.S. dollar maintained its strength, reaching 2.5-month highs driven by rising speculation over Donald Trump's possible second term as president.
Dollar Steadies on Trump Trade Prospects
The U.S. dollar index saw a slight dip in Asian markets but stayed near its peak since early August. Predictions of a Trump re-election, which crypto betting platforms like Polymarket currently favor, have boosted the dollar. While some media polls show Vice President Kamala Harris with a narrow lead, Trump’s policies—such as tariff increases and closer Fed coordination—are expected to drive inflation, bolstering both the dollar and U.S. Treasury yields.
Adding to the dollar's strength was the euro's decline ahead of an anticipated European Central Bank interest rate cut.
Chinese Yuan Slips Amid Housing Stimulus Concerns
The Chinese yuan weakened slightly, with the USDCNY pair rising by 0.1%. Investors were disappointed by the latest housing sector stimulus measures, which fell short of expectations during a government briefing. With third-quarter GDP data expected on Friday, markets are watching for further indicators of China's economic health.
Regional Currencies Mixed as Dollar Strengthens
Across the region, currency performance varied. The Japanese yen was flat amid a larger-than-expected trade deficit, while the Australian dollar gained 0.2% due to robust labor market data. South Korea’s win rose 0.4%, but the Indian rupee hovered near record lows.
