Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
Hormuz Shipping Slows as Iran Threats Lift Oil Risks 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
Gold Prices Rebound as Dollar Weakens, Fed Decision Looms 
UK House Prices Fall for First Time Since 2023 
Japanese Yen Nears Seven-Month High as Oil Approaches $100 
UK Food Inflation Forecast to Hit 6.4% by Mid-2027 
South Korea GDP Surges on Chip and AI Boom 
Brent Oil Tops $100 as Middle East Conflict Threatens Supply 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
Oil Prices Rally as Brent Nears $100 on U.S.-Iran Escalation 
US Stock Futures Mixed as Strong Jobs Data Boosts Fed Rate Hike Bets 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
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The U.S. dollar edged lower on Wednesday as traders awaited key employment data and updates on trade negotiations led by President Donald Trump. The Trump administration set a Wednesday deadline for countries to submit trade offers, coinciding with the start of a 50% tariff on imported steel and aluminum.
Markets are also watching for a possible phone call between Trump and Chinese President Xi Jinping, amid tensions over allegations that both nations breached last month’s tariff rollback agreement.
Despite ongoing trade tensions, macroeconomic indicators have begun influencing dollar movements again. After a manufacturing contraction pushed the dollar down 0.8% on Monday, a surprise surge in U.S. job openings helped it recover nearly the same amount on Tuesday. The JOLTS report, which is closely monitored by the Federal Reserve, showed significantly higher-than-expected figures, boosting sentiment.
By early Wednesday, the dollar dipped 0.09% to 143.82 yen, while the euro gained 0.13% to $1.1385. The dollar index, which tracks the greenback against six major currencies, remained flat at 99.159. Traders are now eyeing the ADP employment report due later in the day, ahead of Friday’s critical non-farm payrolls data.
Joseph Capurso, analyst at Commonwealth Bank of Australia, noted that “job openings were much stronger than expected,” adding that with low expectations for the ADP data, even a small upside surprise could lift the dollar and bond yields.
Elsewhere, the Australian dollar held steady at $0.6460 ahead of GDP data, while South Korea’s won rose 0.2% to 1,375.25 per dollar following the presidential election win of liberal candidate Lee Jae-myung.
