Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
Japan PMI Data Signals Manufacturing Stabilization as Services Continue to Drive Growth 
Wall Street Futures Slip as Tech Stocks Struggle Ahead of Key US Economic Data 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
Asian Stocks Slide as AI Valuation Fears and BOJ Uncertainty Weigh on Markets 
Oil Prices Slip in Asia as 2026 Supply Glut Fears and Russia-Ukraine Talks Weigh on Markets 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
New Zealand Budget Outlook Shows Prolonged Deficits Despite Economic Recovery Hopes 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
The U.S. dollar hovered near multi-year lows on Friday, pressured by expectations of deeper Federal Reserve rate cuts and uncertainty surrounding global trade negotiations ahead of a key July 9 deadline for new tariffs.
Traders are increasingly pricing in dovish shifts from the Fed, with markets now expecting 64 basis points of rate cuts in 2025, up from 46 basis points earlier in the week. Recent congressional testimony from Fed Chair Jerome Powell was seen as more dovish, fueling speculation that President Donald Trump may announce a new Fed Chair as early as September or October—months ahead of Powell’s term ending in May.
Reports suggest Trump is considering replacing Powell to install a more rate-cut-friendly leader. Though no decision is final, such a move could undermine Powell’s authority and introduce volatility into markets, especially if the nominee voices contrasting views.
The dollar index (DXY) was at 97.378, its lowest since March 2022, and is on track for a 2% loss in June—marking six consecutive months of decline. The euro traded at $1.1693 after touching a 2021 high of $1.1745, while the British pound held near $1.3733. The Swiss franc stood at 0.8013, its strongest level in a decade, and the yen slipped slightly to 144.73 per dollar.
Meanwhile, global trade remains in focus. German Chancellor Friedrich Merz urged the EU to pursue a “quick and simple” deal with the U.S., while a White House official confirmed progress with China on accelerating rare earth shipments. These developments come as nations rush to finalize trade agreements before the upcoming U.S. tariff deadline.
The weakening dollar reflects both policy uncertainty and mounting investor concerns over U.S. economic momentum.
