Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
Gold Prices Head for Biggest Weekly Loss Since June as Fed Rate Outlook Weighs 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Nikkei Plunges 5% as AI Stock Selloff Spreads Across Asia 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
Japan Core Inflation Seen Rising in June, Strengthening BOJ Rate Hike Outlook 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Malaysia Q2 Economy Grows 5.8%, Beating Forecasts on Strong Tech Exports and Domestic Demand 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
The U.S. dollar steadied near recent highs on Friday after President Donald Trump’s sweeping tax and spending bill passed its final hurdle, fueling concerns about fiscal sustainability but boosting short-term market sentiment. The Republican-led House approved the $3.4 trillion package—nicknamed “One, Big, Beautiful Bill”—which will be signed into law Friday, raising the U.S. national debt to $36.2 trillion.
The greenback rebounded from earlier losses driven by stronger-than-expected U.S. jobs data. Nonfarm payrolls rose by 147,000 in June, exceeding forecasts and reducing expectations for a near-term Federal Reserve rate cut. Markets now price a 94.8% chance the Fed will hold rates steady in July, up from 76.2% earlier this week, according to CME FedWatch.
Analysts say that while the fiscal outlook is worrying, investors are currently focused on resilient labor data and optimism around potential trade deals. Trump is pressuring nations like Japan to secure bilateral agreements ahead of the July 9 tariff deadline, with the U.S. set to send official rate letters to trade partners. The European Union aims to reach a trade agreement “in principle” before that date.
Despite the dollar’s Thursday rally, it has posted its worst first half since 1973, weighed down by tariff fears and uncertainty surrounding U.S. economic policy. The dollar index hovered at 97.056. The euro edged up to $1.1765, and the yen strengthened slightly to 144.69 per dollar, trimming gains from the previous session. Sterling remained flat at $1.36495.
Currency strategist Hirofumi Suzuki noted that although the U.S. labor market is slowing, its gradual pace is reassuring. He predicted continued dollar softness and yen strength if trade talks disappoint.
