Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Asian Stocks Slide as Nikkei Leads Losses on Tech Selloff and Rising U.S.-Iran Tensions 
AI Chip Stocks Face Valuation Pressure as Investors Shift Toward Big Tech and Software 
Malaysia Q2 Economy Grows 5.8%, Beating Forecasts on Strong Tech Exports and Domestic Demand 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Oil Prices Set for Weekly Surge as U.S.-Iran Conflict Fuels Supply Fears 
Gold Prices Head for Biggest Weekly Loss Since June as Fed Rate Outlook Weighs 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
The U.S. dollar started the week on steady footing, trading at 143.57 yen and $1.1360 per euro, as investors braced for a wave of economic data that could reveal the impact of President Donald Trump's ongoing trade war. Despite stabilizing, the dollar remains on track for its largest monthly decline in nearly two and a half years, having dropped over 4% against both the euro and yen in April.
Signs of easing tensions between the U.S. and China last week, including reduced tariffs and more conciliatory rhetoric, helped the greenback recover slightly. However, uncertainty persists, as Beijing denies active trade negotiations despite Trump’s claims of progress. U.S. Treasury Secretary Scott Bessent also refrained from confirming any ongoing tariff talks.
Markets are now focused on upcoming key indicators, including April’s U.S. jobs report, first-quarter GDP data, and the Fed’s preferred inflation gauge, core PCE. A slowdown in hiring is anticipated, potentially influencing the dollar’s trajectory.
Meanwhile, the Australian dollar hovered near recent highs at $0.64, with traders eyeing Wednesday’s inflation data ahead of an expected rate cut. The New Zealand dollar also remained firm near $0.60. In Canada, voters head to the polls Monday, but little currency volatility is expected, with the Canadian dollar steady at C$1.3874.
The Bank of Japan will announce monetary policy on Thursday, with no major changes expected. Attention will be on the outlook, particularly amid speculation about U.S.-Japan trade talks influencing currency dynamics. Japan’s top currency official, Atsushi Mimura, denied reports that the U.S. favors a weaker dollar.
