IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
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 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
The U.S. dollar held steady on Tuesday, supported by signs of easing trade tensions between Washington and Beijing after President Donald Trump softened his stance on tariffs and hinted at a potential meeting with Chinese President Xi Jinping later this month. The shift in tone comes after a volatile Friday session when Trump abruptly announced 100% tariffs on Chinese exports, only to strike a more conciliatory tone over the weekend.
Treasury Secretary Scott Bessent confirmed that Trump remains committed to meeting Xi in South Korea in late October, boosting investor optimism that both nations are seeking a path to defuse tensions. The development breathed new life into the greenback, keeping the euro below $1.16 at $1.1566, while sterling slipped 0.06% to $1.3328. The New Zealand dollar fell to a six-month low at $0.57145.
Homin Lee, senior macro strategist at Lombard Odier, noted that both the U.S. and China appear to be searching for “an off-ramp” to prevent relations from deteriorating further, emphasizing that a prolonged escalation would be costly for both sides. “We suspect there will be an attempt to achieve an off-ramp,” he said.
Against a basket of major currencies, the dollar edged 0.04% higher to 99.34. The Australian dollar was steady at $0.6516, while the yen weakened 0.2% to 152.57 per dollar. Japan’s markets reopened after a long weekend amid political uncertainty following the collapse of a coalition supporting Sanae Takaichi’s bid to become the nation’s first female prime minister. Despite the turbulence, analysts expect the yen to strengthen, with Nigel Foo of First Sentier Investors saying the exchange rate “should not be at 152.”
Meanwhile, bitcoin dipped 0.36% to $115,380.19, extending last week’s 6% slide as risk sentiment waned. Ether also declined 0.77% to $4,256.42, following a broader crypto market selloff that wiped out over $19 billion in leveraged positions.
