Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Dollar Rises as Middle East Conflict Fuels Inflation and Rate Hike Fears 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
US-Iran Strikes Escalate as Strait of Hormuz Crisis Pushes Oil Prices Higher 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Gold Prices Fall as US-Iran Conflict, Rising Oil Prices Fuel Fed Rate Concerns 
Iraq PM Visits Washington as U.S. Oil, Gas Deals Take Center Stage 
European Stocks Slip as Middle East Tensions and Hormuz Threat Rattle Markets 
BOJ May Raise Japan Growth Forecast While Keeping Focus on Inflation Risks 
South Korea’s KOSPI Triggers Trading Curb as AI Chip Stock Selloff Deepens 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
EU Weighs New Trade Restrictions on Israeli West Bank Settlements 
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.
