Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
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 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
European stock markets traded slightly higher on Friday as investors remained cautious ahead of the release of critical U.S. nonfarm payrolls data, a report expected to influence expectations for Federal Reserve monetary policy in 2026. In early trading, Germany’s DAX rose 0.1%, France’s CAC 40 climbed 0.5%, and the U.K.’s FTSE 100 advanced 0.3%, reflecting guarded optimism across regional equities.
Global attention was firmly on the upcoming U.S. jobs report, which economists believe will show a slowing but resilient labor market. Forecasts suggest the U.S. economy added around 57,000 jobs in December, down from 64,000 in November. The data is closely watched as it could shape the Federal Reserve’s interest rate outlook after the central bank cut rates at its last three meetings in 2025, prioritizing concerns over labor market weakness despite persistent inflation pressures. While the Fed is widely expected to hold rates steady later this month, uncertainty remains over the timing and scale of any future rate cuts.
In Europe, sentiment was supported by stronger-than-expected German industrial production, which rose 0.8% month-on-month in November, defying forecasts for a decline and signaling potential recovery in the eurozone’s largest economy. Investors are also awaiting eurozone retail sales data, expected to confirm ongoing pressure on consumer spending.
Political and legal developments added another layer of uncertainty, including a potential U.S. Supreme Court ruling on the legality of Trump-era global tariffs and renewed focus on Greenland’s strategic importance amid U.S. interest in critical minerals.
Corporate news was dominated by the mining sector after Glencore confirmed early-stage talks over a possible acquisition by Rio Tinto, a deal that could create the world’s largest mining company. Elsewhere, U.K. retailer J Sainsbury upgraded its cash flow outlook following strong Christmas trading.
Oil prices rose for a third consecutive week, supported by geopolitical tensions in Iran and Venezuela, with Brent crude and WTI both gaining around 0.8%, underscoring ongoing concerns over global energy supply.
