Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Australia Inflation Cools in May, But Core CPI Keeps RBA Rate Hike Risks Alive 
Asian Stocks Slip as Oil Rebounds Amid Fed Rate Hike Fears 
U.S. Dollar Reaches One-Year High as Tech Sell-Off and Fed Rate Hike Expectations Support Demand 
Oil Prices Slip as Iran Sanctions Relief and Hormuz Shipping Recovery Ease Supply Concerns 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
South Korea Remains MSCI Emerging Market Despite Reform Progress 
Wall Street Slides as AI Stocks Tumble Following South Korea Tech Sell-Off 
Yen Near 40-Year Low as USD/JPY Approaches Key 162 Level, Raising Intervention Concerns 
Wall Street Ends Mixed as Tech Stocks Struggle Ahead of Micron Earnings 
Malaysia Central Bank Moves to Support Ringgit Amid Foreign Fund Outflows 
Singapore Inflation Stays Muted in May as Core CPI Misses Forecasts Ahead of MAS Review 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
South Korea’s KOSPI Rebounds as Samsung and SK Hynix Lead Tech Stock Recovery 
The U.S. dollar strengthened on Thursday as investors increased expectations that the Federal Reserve could raise interest rates again later this year following stronger-than-expected economic data. Fresh inflation figures and resilient retail sales reinforced confidence in the U.S. economy, helping the greenback climb against major global currencies.
The U.S. Dollar Index, which measures the currency against six major peers, advanced 0.3% to 98.82. Market sentiment shifted after recent consumer price index (CPI) and producer price index (PPI) reports showed inflation pressures remain elevated. April retail sales also increased 0.5%, matching analyst expectations, although growth slowed compared to March’s stronger gain. Economists noted that consumers continue spending despite higher fuel costs and inflation concerns, signaling ongoing economic resilience.
Rising oil prices linked to Middle East tensions have also influenced inflation expectations, reducing hopes for potential Federal Reserve rate cuts. Higher interest rates typically support the U.S. dollar by attracting global investors seeking stronger returns.
Attention also turned to President Donald Trump’s visit to China, where trade talks, artificial intelligence cooperation, and discussions surrounding Iran dominated headlines. Chinese President Xi Jinping reportedly expressed willingness to assist diplomatic efforts regarding the Middle East crisis, while investors monitored potential progress in U.S.-China trade relations. Reports suggesting the U.S. approved several Chinese firms to purchase Nvidia’s H200 AI chips further boosted market optimism. Boeing shares also benefited after Trump announced China agreed to purchase 200 aircraft from the American manufacturer.
In currency markets, the British pound weakened despite stronger UK GDP growth data, while the euro and Japanese yen also lost ground against the dollar. The Chinese yuan, however, remained near multi-year highs following positive sentiment surrounding the summit discussions.
