Oil Prices Fall as U.S. Crude Inventories Surge and Hormuz Tensions Persist 
Canada-US Trade Talks Gain Momentum Ahead of Aug. 19 Tariff Deadline 
Gold Prices Rise as Weak US Retail Sales Cut Fed Rate Hike Bets 
S&P 500 Retreats From Record High as AI Stocks Slide, Retail Sales Disappoint 
Trump Imposes New US Tariffs on Drone Imports Over National Security Concerns 
US Dollar Slips as Soft Economic Data Eases Fed Rate Hike Expectations 
BSP Sees Philippine Inflation Easing, Keeps Policy Options Open 
Morgan Stanley Sees Fed Holding Rates as U.S. Inflation Cools 
Asian Stocks Rally as Cooling US Inflation Boosts Fed Rate Outlook 
US Stock Futures Steady as Cooling Inflation and Strong Earnings Support Markets 
France Inflation Rises 2.4% in July as Consumer Prices Increase 
S&P 500 Hits Record High as Soft Inflation Data Eases Fed Rate Hike Fears 
Oil Prices Steady as Strait of Hormuz Traffic Slows Amid US-Iran Conflict 
US Stock Futures Mixed as Fed Rate Hike Bets Fade, AI Deals in Focus 
Gold Prices Retreat From Two-Month High as Softer Inflation Eases Fed Rate Hike Bets 
Trump Imposes New Tariffs on Drone Imports Over US Security Concerns 
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Dollar Maintains Stability Amid U.S. Jobs Report and Fed Speculation
The U.S. dollar held steady against major currencies on Friday as investors anticipated the latest U.S. nonfarm payrolls report. This report is expected to shed light on the economy's resilience ahead of the Federal Reserve's meeting and the tight U.S. presidential race next week.
Yen Gains as BOJ Hints at Future Rate Hikes
The Japanese yen maintained Thursday's gains after the Bank of Japan (BOJ) hinted at a potential shift away from its ultra-loose monetary stance. While the BOJ kept rates low, economists from Morgan Stanley MUFG suggest a December rate hike is now more likely, with a January increase to 0.5% remaining in their base case. Key factors such as yen-dollar exchange rates and upcoming inflation data may influence BOJ's decision.
U.S. Dollar Sees Monthly Gain
Despite a recent dip, the U.S. dollar logged its largest monthly gain since September 2022 in October, driven by tempered expectations for aggressive Fed rate cuts. The dollar index rose slightly to 103.94, while the yen traded at 152.18 per dollar.
Euro and Pound Under Pressure
The euro, hovering near a two-week high, was marginally lower at $1.0879 after data showed an unexpected rise in eurozone inflation. Meanwhile, the British pound faced selling pressure, trading at $1.2895, following Finance Minister Rachel Reeves's announcement of the largest tax hike since 1993.
China’s Manufacturing Rebounds
China’s manufacturing sector saw growth in October, with new orders boosting production. Additionally, home prices rose, suggesting economic stability despite global headwinds.
