Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
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Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
US Stock Futures Fall as Netflix Outlook, Chip Selloff and Iran Tensions Weigh on Markets 
Nikkei Plunges 5% as AI Stock Selloff Spreads Across Asia 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Gold Prices Head for Biggest Weekly Loss Since June as Fed Rate Outlook Weighs 
The U.S. dollar edged higher on Monday as geopolitical tensions between Israel and Iran drove safe-haven demand, with investors bracing for key central bank decisions this week. Fears of a broader regional conflict intensified after Israel’s surprise attack on Friday led to the suspension of U.S.-Iran nuclear talks. Analysts warn that Iran may attempt to block the Strait of Hormuz, a vital oil trade route, posing broader economic risks.
The dollar rose 0.14% to 144.3 yen, while the euro slipped 0.14% to $1.1534. The greenback was steady against the Swiss franc at 0.81, and the dollar index held firm at 98.25. Risk-sensitive currencies like the Australian and New Zealand dollars saw marginal gains. Despite recent gains, analysts remain cautious on the dollar’s longer-term trajectory, especially if the Federal Reserve signals a dovish stance.
Brown Brothers Harriman’s Win Thin noted that the dollar’s safe-haven status may be tested, particularly amid weakening U.S. fundamentals. Markets expect the Fed to keep rates unchanged on Wednesday, with investors closely watching for comments on slowing economic growth and persistent inflation risks. Chris Weston of Pepperstone said the Fed's growth forecast will likely shift downward, keeping its policy tone neutral.
The Bank of Japan is also expected to maintain rates on Tuesday, though it may begin scaling back bond purchases next fiscal year. Central banks in the UK, Sweden, and Norway are also set to announce policy updates this week.
In commodities, gold climbed 0.22% to $3,435.5 an ounce, nearing April’s record high. Longer-dated U.S. Treasuries dipped slightly after Friday’s gains, reflecting market caution over potential inflationary effects from ongoing geopolitical turmoil.
