Trump Says No Hormuz Strait Tolls During 60-Day Iran Ceasefire 
Australia Eases Capital Gains Tax Reforms to Support Small Businesses and Startups 
Dollar Hits One-Month High as Hawkish Fed Outlook Boosts Greenback 
Asian Currencies Stabilize as Dollar Holds Near Two-Month High After Fed Hawkish Signal 
Asian Stocks Rally as Japan and South Korea Reach Record Highs on US-Iran Peace Deal 
Oil Prices Slide as U.S.-Iran Deal and Hormuz Reopening Ease Supply Concerns 
Italy’s Economy Outpaces Eurozone Peers as Investment Spending Fuels Growth 
Russian Stocks End Flat as MOEX Index Hits New 52-Week Low 
Dollar Surges After Fed Holds Rates Steady, Signals Potential Tightening Ahead 
Japan Inflation Stays Below BOJ Target Despite Rate Hike and Rising Energy Cost Risks 
Oil Prices Drop as U.S.-Iran Peace Deal Eases Supply Concerns 
Trump Questions USMCA Renewal as Trade Talks Continue 
Canada Imposes 10% Tariff on Canned Vegetable Imports to Protect Domestic Industry 
Gold Prices Slide as Hawkish Fed and Strong Dollar Weigh on Bullion 
BOJ Signals More Rate Hikes as Inflation Risks Rise Amid Energy Price Pressures 
Asian Stocks Surge as Oil Prices Fall and Strong US Dollar Weighs on Markets 
Gold Prices Rebound on U.S.-Iran Peace Deal Optimism Despite Fed Rate Hike Signals 
Asian markets surged Thursday as positive earnings and easing trade tensions boosted risk sentiment. Japan’s Topix index reached a record high, tracking Wall Street’s gains after Alphabet (NASDAQ: GOOGL) beat earnings estimates, sparking optimism for the “Magnificent Seven” tech results driving U.S. markets.
The rally followed a U.S.-Japan trade pact that fueled speculation of more agreements to mitigate tariffs. The United States recently secured trade deals with the Philippines and Indonesia, while a U.S.-EU agreement imposing 15% tariffs on select European imports and exempting others is reportedly nearing completion. Additionally, U.S. and Chinese officials are set to meet in Stockholm next week to discuss trade.
Second-quarter earnings season in the U.S. is underway, with 23% of S&P 500 companies reporting so far; 85% have exceeded Wall Street forecasts, according to LSEG data. Alphabet highlighted soaring demand for its cloud services and announced increased capital spending, while Tesla (NASDAQ: TSLA) reported its steepest sales decline in over a decade, missing profit expectations.
MSCI’s Asia-Pacific index outside Japan rose 0.3%, while Japan’s Topix advanced 1.4%. The Australian dollar, viewed as a risk proxy, climbed to $0.66, its highest level since November 2024. The U.S. dollar slipped 0.1% to 146.38 yen.
Commodities also gained: U.S. crude rose 0.4% to $65.5 per barrel, and spot gold edged up 0.1% to $3,390.84 an ounce. European futures mirrored the bullish sentiment, with Euro Stoxx 50 and German DAX futures up 1.3%, while U.S. S&P 500 and Nasdaq futures added 0.13% and 0.4%, respectively, signaling continued global market momentum.
