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 
AI Chip Stocks Face Valuation Pressure as Investors Shift Toward Big Tech and Software 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
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 
Asian Stocks Slide as Nikkei Leads Losses on Tech Selloff and Rising U.S.-Iran Tensions 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
Gold Prices Head for Biggest Weekly Loss Since June as Fed Rate Outlook Weighs 
Malaysia Q2 Economy Grows 5.8%, Beating Forecasts on Strong Tech Exports and Domestic Demand 
Brazil Weighs IP Curbs, Patent Suspensions After New U.S. Tariffs 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
The U.S. dollar pulled back on Wednesday amid weak consumer confidence data and growing concerns that sweeping tariffs could hinder U.S. economic growth. The greenback dipped about 0.5% against the yen overnight, falling below the key 150 level to 149.95 in early Asian trading. The euro, which had been gradually declining from a five-month high, stabilized at $1.0789.
Market sentiment remains cautious ahead of next week, when former President Donald Trump is expected to announce or detail new tariffs targeting autos, semiconductors, and pharmaceuticals. These looming trade tensions have left currencies like the Australian dollar vulnerable, with the Aussie hovering just above $0.63. Monthly inflation data, likely to show persistent price pressures, could support expectations that the Reserve Bank of Australia will delay rate cuts.
Despite Australia's federal budget unveiling tax cuts and increased borrowing for voter relief ahead of the May election, the Aussie saw little reaction. Commonwealth Bank strategist Joe Capurso warned that intensified U.S. trade policies could push AUD/USD toward the $0.60 mark if markets are caught off guard.
The New Zealand dollar remained steady at $0.5732, while the euro and Russia’s rouble showed minimal response to U.S.-brokered agreements with Russia and Ukraine aimed at pausing attacks on energy and sea targets. Wheat prices, however, dropped following U.S. statements supporting the easing of sanctions on Russian agriculture.
Currency markets are navigating a complex mix of inflation fears and growth risks. Despite expectations that tariffs may be inflationary, their potential drag on growth has tempered dollar strength. U.S. consumer confidence data underscored this uncertainty, plunging to a four-year low in March. The dollar index, which surged from September to January, is now on track for a 4% quarterly decline. Sterling held at $1.2948 ahead of key U.K. inflation figures.
