South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Most Asian currencies traded within tight ranges on Friday, while the U.S. dollar remained firm near a six-week high, supported by strong U.S. economic data and fading expectations for imminent Federal Reserve rate cuts. The U.S. Dollar Index was largely flat during Asian trading hours after climbing to its highest level since early December overnight, reflecting continued demand for the greenback. U.S. Dollar Index futures were also little changed around 03:35 GMT, signaling cautious positioning ahead of further economic cues.
Recent U.S. macroeconomic releases reinforced the dollar’s strength. Initial jobless claims unexpectedly fell to 198,000 last week, well below market forecasts of 215,000, underscoring resilience in the U.S. labor market. This data has pushed traders to reassess their outlook for Federal Reserve policy, with expectations for the first interest rate cut now shifting toward mid-year rather than the early months of 2026. Comments from several Federal Reserve officials added to this sentiment, as policymakers emphasized a willingness to keep rates steady, citing stabilizing employment conditions and persistent inflation pressures.
In Asia, the Japanese yen showed mild stability after hovering near 18-month lows. The USD/JPY pair slipped around 0.3%, supported by verbal intervention from Japanese government officials seeking to curb excessive yen weakness. Analysts noted that the Bank of Japan is increasingly mindful of the yen’s impact on inflation. However, speculation over a potential snap election under Prime Minister Sanae Takaichi has kept the currency under pressure, as markets fear looser fiscal policy could weigh further on the yen.
Elsewhere, the South Korean won weakened slightly, with the USD/KRW pair rising about 0.2% and heading for a weekly gain of over 1%, despite brief support from comments by U.S. Treasury Secretary Scott Bessent earlier in the week. The Chinese yuan remained largely steady, with both the onshore USD/CNY and offshore USD/CNH pairs showing minimal movement. The Indian rupee and Singapore dollar also traded flat, reflecting broader regional caution.
Meanwhile, the Australian dollar edged modestly higher, with AUD/USD up around 0.1%, as investors balanced global risk sentiment against domestic factors. Overall, Asian currency markets remained subdued, tracking U.S. dollar strength and evolving expectations around Federal Reserve interest rate policy.
