AI Chip Stocks Face Valuation Pressure as Investors Shift Toward Big Tech and Software 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Brazil Weighs IP Curbs, Patent Suspensions After New U.S. Tariffs 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
US Stock Futures Fall as Netflix Outlook, Chip Selloff and Iran Tensions Weigh on Markets 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
The U.S. dollar held firm on Tuesday following a surprise tariff relief deal between the United States and China that eased fears of a global recession. The agreement, which includes a 90-day rollback of steep tariffs, sparked a global market rally and boosted the dollar against major currencies.
Rodrigo Catril, senior FX strategist at National Australia Bank, noted the deal was “way better than the market was expecting,” highlighting the U.S. administration’s sensitivity to economic risks from trade tensions.
The dollar surged in the previous session, gaining 2.1% against the yen and 1.6% versus the Swiss franc, before slightly pulling back. It last traded at 148.29 yen and 0.8448 Swiss francs. The euro recovered slightly to $1.1095 after falling 1.4% Monday. Catril suggested the euro and yen may see further weakness in the coming weeks.
Sterling was little changed at $1.3178, while the Australian and New Zealand dollars hovered near recent lows at $0.6374 and $0.5862, respectively. The U.S. dollar index held near a one-month high at 101.67.
The easing of trade tensions also led traders to scale back expectations for Federal Reserve interest rate cuts. U.S. Treasury yields rose, with the two-year yield near a one-month high at 3.9977% and the 10-year yield at 4.4551%. Markets now expect around 56 basis points of Fed cuts by year-end.
David Doyle of Macquarie noted that the Fed’s focus on uncertainty may persist, though the tariff deal reduces some downside risk.
In crypto markets, Bitcoin traded at $102,590.75, near a recent high, while Ether dipped 0.4% to $2,476.21.
