Gold Prices Rebound on U.S.-Iran Peace Deal Optimism Despite Fed Rate Hike Signals 
BOJ Signals More Rate Hikes as Inflation Risks Rise Amid Energy Price Pressures 
Australia Eases Capital Gains Tax Reforms to Support Small Businesses and Startups 
Trump Questions USMCA Renewal as Trade Talks Continue 
Asian Stocks Surge as Oil Prices Fall and Strong US Dollar Weighs on Markets 
Asian Currencies Stabilize as Dollar Holds Near Two-Month High After Fed Hawkish Signal 
Trump and Iran Sign Framework Peace Deal in France Amid Ongoing Middle East Tensions 
Japan Inflation Stays Below BOJ Target Despite Rate Hike and Rising Energy Cost Risks 
Dollar Hits One-Month High as Hawkish Fed Outlook Boosts Greenback 
China’s AI Manufacturing Boom Masks Weak Consumer Economy, Citi Says 
Italy’s Economy Outpaces Eurozone Peers as Investment Spending Fuels Growth 
Asian Stocks Rally as Japan and South Korea Reach Record Highs on US-Iran Peace Deal 
Canada, British Columbia Launch $5 Billion Infrastructure Partnership to Boost Housing, Transit, and Healthcare 
Oil Prices Slide as U.S.-Iran Deal and Hormuz Reopening Ease Supply Concerns 
Dollar Surges After Fed Holds Rates Steady, Signals Potential Tightening Ahead 
US Stock Futures Slip After Wall Street Rally Fueled by US-Iran Deal and Chipmaker Surge 
Global markets tumbled Friday after weaker-than-expected U.S. jobs data heightened recession concerns and boosted expectations for a Federal Reserve rate cut in September. MSCI’s global equities index fell 1.32% to 917.39, its sharpest drop since mid-April, while the dollar and Treasury yields slid amid economic uncertainty and political turmoil.
The U.S. Labor Department reported only 73,000 nonfarm payroll additions in July, far below forecasts of 110,000. June’s figures were revised sharply down to 14,000 from 147,000. Following the report, President Donald Trump ordered the dismissal of Bureau of Labor Statistics Commissioner Erika McEntarfer, a Biden appointee, sparking investor concerns over data integrity. Anxiety deepened as Fed Governor Adriana Kugler announced her early resignation, further fueling volatility in currency and bond markets.
CME’s FedWatch tool showed traders pricing an 87.5% chance of a September rate cut, up from 37.7% the previous day. The dollar index fell 1.37% to 98.66, with the euro climbing to $1.1589 and the yen strengthening to 147.32. U.S. 10-year Treasury yields plunged 14 basis points to 4.22%.
Wall Street mirrored the global sell-off: the Dow Jones dropped 542 points, the S&P 500 fell 1.6%, and the Nasdaq lost 2.24%, its steepest decline since April. Amazon shares sank over 8% after disappointing cloud growth figures.
Adding pressure, Trump announced new tariffs up to 41% on imports from Canada, India, Taiwan, Thailand, and South Korea, with Mexico receiving a temporary reprieve.
Oil prices fell nearly 3% on demand fears and possible OPEC output increases, while gold surged 2% to $3,360 per ounce as investors sought safety amid mounting economic and geopolitical uncertainty.
