China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Asian markets traded mixed as investors digested falling oil prices, rising commodity stocks, and heightened geopolitical tensions tied to Venezuela, China, and broader global uncertainty. Crude oil futures extended losses after U.S. President Donald Trump said Venezuela would hand over as much as 50 million barrels of oil to be sold at market prices following the capture of the country’s leader. The news weighed heavily on energy markets, pushing U.S. crude down 1.1% to $56.48 per barrel and Brent crude 0.8% lower at $60.22 per barrel.
Despite weaker oil prices, resource and commodity-related shares found support across the region, helped by a sharp overnight rally in industrial metals. Copper surged to a record high in the previous session, while nickel jumped more than 10% on supply concerns, boosting mining stocks, particularly in Australia. The S&P/ASX 200 index rose 0.3%, benefiting from its heavy exposure to commodity producers.
Broader equity markets were more cautious. MSCI’s Asia-Pacific index outside Japan slipped 0.2%, while Japan’s Nikkei fell 0.25%. Japanese stocks were pressured after China announced a ban on exports of dual-use items to Japan, escalating tensions following comments by Prime Minister Sanae Takaichi regarding Taiwan.
Currency markets reflected a cautious tone. The U.S. dollar held near recent highs, with the dollar index steady at 98.60, supported by global geopolitical risks and anticipation of key U.S. economic data. The euro traded at $1.169, while the yen weakened slightly to 156.73 per dollar. Investors are closely watching upcoming U.S. data, including the monthly jobs report, JOLTS survey, and ADP payrolls, for clues on the timing of potential Federal Reserve interest rate cuts, with markets currently pricing in two cuts this year.
Elsewhere, spot gold slipped 0.6% to $4,469.04 an ounce, while cryptocurrencies also declined, with bitcoin down 0.8% and ether easing 0.5%. European equity futures pointed to a mixed open, and U.S. stock futures were flat after Wall Street closed at record highs, brushing aside global tensions for now.
