Asian Currencies Stabilize as Dollar Holds Near Two-Month High After Fed Hawkish Signal 
China’s AI Manufacturing Boom Masks Weak Consumer Economy, Citi Says 
US Stock Futures Jump on Reports of Preliminary US-Iran Peace Deal Despite Fed’s Hawkish Outlook 
Trump Says No Hormuz Strait Tolls During 60-Day Iran Ceasefire 
Canada, British Columbia Launch $5 Billion Infrastructure Partnership to Boost Housing, Transit, and Healthcare 
Australia Eases Capital Gains Tax Reforms to Support Small Businesses and Startups 
Gold Prices Slide as Hawkish Fed and Strong Dollar Weigh on Bullion 
Dollar Hits One-Month High as Hawkish Fed Outlook Boosts Greenback 
Russia Stocks End Flat as MOEX Index Hits New 52-Week Low; Gold Falls and Oil Mixed 
Fed Chair Kevin Warsh Signals Policy Overhaul as Hawkish Rate Outlook Rattles Markets 
Japan Inflation Stays Below BOJ Target Despite Rate Hike and Rising Energy Cost Risks 
France Faces Long Road to Economic Rebalancing as Weak Demand and High Rates Weigh, Says Citi 
Italy’s Economy Outpaces Eurozone Peers as Investment Spending Fuels Growth 
US Stock Futures Slip After Wall Street Rally Fueled by US-Iran Deal and Chipmaker Surge 
Oil Prices Drop as U.S.-Iran Peace Deal Eases Supply Concerns 
Asian Stocks Surge as Oil Prices Fall and Strong US Dollar Weighs on Markets 
Asian Stocks Rally as Japan and South Korea Reach Record Highs on US-Iran Peace Deal 
The U.S. dollar edged up on Monday after suffering sharp losses last week following a weaker-than-expected July jobs report and President Donald Trump’s abrupt firing of Bureau of Labor Statistics Commissioner Erika McEntarfer. The dollar had tumbled over 2% against the yen and 1.5% against the euro on Friday, as investors ramped up bets on imminent Federal Reserve interest rate cuts.
U.S. nonfarm payrolls missed forecasts, with prior months’ figures revised down by 258,000 jobs, signaling a steeper-than-anticipated slowdown in the labor market. Trump accused McEntarfer of “faking” the numbers, while the unexpected resignation of Fed Governor Adriana Kugler gave the president an opportunity to shape the central bank’s direction sooner than expected.
The dollar recovered slightly, rising 0.14% to 147.60 yen but remained nearly 3 yen below Friday’s peak. The euro slipped 0.2% to $1.1560, and sterling eased 0.1% to $1.3263. Against a basket of currencies, the greenback gained 0.2% to 98.86, after dropping more than 1% on Friday.
Treasury yields fell as traders priced in a 95% probability of a Fed rate cut in September, with over 63 basis points of cuts expected by year-end. The two-year yield dropped to a three-month low of 3.6590%, while the 10-year yield hovered near 4.2060%. Analysts at Macquarie now expect the Fed to cut rates by 25 basis points in September.
The Australian dollar slipped 0.17% to $0.6465, and the New Zealand dollar eased 0.24% to $0.5905. The Swiss franc held steady at 0.8041 per dollar, despite Switzerland facing steep new U.S. tariffs that local industry groups warn could cost tens of thousands of jobs.
