Trump Imposes New US Tariffs on Drone Imports Over National Security Concerns 
Gold Prices Retreat From Two-Month High as Softer Inflation Eases Fed Rate Hike Bets 
Wall Street Hits Record High as Softer Inflation Data Eases Fed Rate Hike Fears 
Oil Prices Slide as OPEC, IEA Cut 2026 Demand Forecasts 
European Stocks Steady as U.S.-Iran War, Euro Zone Data Keep Investors Cautious 
KOSPI Rebounds 20% as Samsung, SK Hynix Lead South Korea Stock Rally 
Asian Stocks Rally as Cooling US Inflation Boosts Fed Rate Outlook 
Australia Sets New Minimum Pay, Insurance Rules for Gig Workers 
Asian Stocks Rise as AI Chip Rally Lifts South Korea, Japan 
UK Economy Posts Surprise June Growth as World Cup and Hot Weather Lift Activity 
Asian Currencies Steady Ahead of US CPI as Oil Prices Rise 
China Automakers Accelerate Global Expansion as Domestic Car Sales Slump 
Asian Currencies Steady as Dollar Holds Firm After U.S. Inflation Data 
Iran War Escalates as US, Houthis Target Ships Near Key Oil Routes 
S&P 500 Hits Record High as Soft Inflation Data Eases Fed Rate Hike Fears 
Japan Government Backs Earlier BOJ Rate Hike as Inflation Pressures Build 
Canada-US Trade Talks Gain Momentum Ahead of Aug. 19 Tariff Deadline 
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US dollar gained momentum after better than expected US ISM manufacturing PMI . It hits a high of 106.73 and is currently trading around 106.52.
Manufacturing Insights: Signs of Improvement Amid Contraction
The US ISM Manufacturing PMI for November 2024 rose to 48.4, up from 46.5 in October, showing slight improvement but still indicating contraction for the eighth month. The New Orders Index increased to 50.4, suggesting weak growth, while the Employment Index improved to 48.1. Price pressures eased, with the Prices Paid Index dropping to 50.3. Overall, the US Dollar strengthened following these mixed but hopeful manufacturing reports.
Political Crisis in France: Euro Faces Headwinds
Euro lost its shine amid France's political crisis. It is facing a serious political crisis with Prime Minister Michel Barnier's minority government at risk of collapsing due to a no-confidence vote.
His proposed €60 billion budget to reduce the deficit is encountering strong opposition from both right and left-wing parties. To bypass this, Barnier used a controversial method to pass a social security budget, prompting more opposition challenges. The political turmoil has raised concerns about France's financial stability, affecting its bond yields and raising questions about future governance.
