Italy’s Economy Outpaces Eurozone Peers as Investment Spending Fuels Growth 
Japan Manufacturing Growth Accelerates in June as Orders Surge Despite Iran War Cost Pressures 
Asian Stocks Slide as AI Rally Pauses, South Korean Chipmakers Lead Regional Decline 
Yen Near 40-Year Low as USD/JPY Approaches Key 162 Level, Raising Intervention Concerns 
Gold Price Rises as Investors Weigh U.S.-Iran Talks and Fed Policy Outlook 
Wall Street Ends Mixed as Alphabet Slumps, Middle East Developments and Fed Outlook Weigh on Markets 
Japan, U.S. Discuss Yen Weakness as Currency Intervention Concerns Grow 
Oil Prices Steady as U.S.-Iran Truce Uncertainty and Middle East Tensions Keep Markets on Edge 
Canada Imposes 10% Tariff on Canned Vegetable Imports to Protect Domestic Industry 
Dollar Holds Firm as U.S.-Iran Talks Ease Tensions, GBP/USD Slips Amid UK Political Uncertainty 
Oil Prices Fall as Iran Peace Talks Progress, Hormuz Reopens, and U.S. SPR Hits 1983 Low 
Trump Says No Hormuz Strait Tolls During 60-Day Iran Ceasefire 
Russia Stocks End Flat as MOEX Index Hits New 52-Week Low; Gold Falls and Oil Mixed 
Asian Stocks Surge as Oil Prices Fall and Strong US Dollar Weighs on Markets 
South Korea Stocks Tumble as AI-Fueled Rally Faces Profit-Taking Pressure 
US Dollar Hits One-Year High as Hawkish Fed Outlook Overshadows Middle East Developments 
Oil Prices Drop as U.S.-Iran Talks Ease Supply Concerns 
The U.S. dollar surged on Monday, sending the Canadian dollar and Mexican peso to multi-year lows, while the Chinese yuan in offshore trading plummeted to a record low after President Donald Trump imposed sweeping tariffs, escalating trade tensions.
The dollar's gains were widespread, with the euro plunging to a two-year low and the Swiss franc, typically a safe haven, weakening to its lowest since May. Canada and Mexico, the top two U.S. trading partners, swiftly vowed retaliation, while China announced plans to challenge the tariffs at the WTO.
Market analyst Tony Sycamore noted the unexpected retaliatory measures by Canada and Mexico, with potential responses from China and the EU adding to concerns of a sharp contraction in global trade. The implementation of U.S. tariffs on February 4, earlier than expected, intensified market uncertainty.
As promised, the U.S. levied 25% duties on Canadian and Mexican imports and a 10% tariff on Chinese goods, citing economic security concerns. The move shook investor confidence, with Bank of Singapore's chief economist Mansoor Mohi-uddin warning of potential long-term economic consequences.
The U.S. dollar climbed 0.7% to 7.2552 yuan offshore, earlier touching a record high of 7.3765. It rose 2.7% to 21.40 pesos, a high not seen since 2022, and 1.4% to C$1.4755, its strongest level since 2003. The euro fell 2.3% to $1.0125 before recovering slightly.
The Federal Reserve’s expected rate cuts were also reevaluated, with traders reducing projections by 6 basis points. Bitcoin fell 4.4% to $97,622, while Ether plunged 15% to $2,812.
With markets bracing for further trade disruptions, analysts warn of stagflation risks, characterized by weak growth and rising inflation.
