IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Asian markets rallied Wednesday, led by Japan’s Nikkei, after U.S. President Donald Trump announced a trade deal with Japan, igniting investor optimism despite mixed corporate earnings in the U.S. The Nikkei surged 1.7%, with automakers like Mazda Motor and Toyota jumping 12% and 10%, respectively.
Trump said Japan agreed to invest $550 billion in the U.S. and implement a 15% reciprocal tariff. A separate agreement with the Philippines will see a 19% tariff on its imports. Though details remain limited, analysts noted relief that a 25% baseline tariff was avoided, reducing short-term uncertainty in equity markets.
Adding to the optimism, Trump revealed that EU officials would visit Wednesday for trade talks. Meanwhile, U.S. and Chinese representatives are scheduled to meet in Stockholm next week, potentially extending their August 12 trade deadline.
Despite the trade boost, Wall Street closed mixed on Tuesday. General Motors dropped 8.1% after revealing a $1 billion tariff-related hit. Investors await key earnings from Tesla and Alphabet, whose performance could influence the AI-driven rally in major U.S. tech stocks.
Nasdaq futures inched up 0.1%, while S&P 500 futures gained 0.2%. MSCI’s Asia-Pacific index (excluding Japan) rose 0.2%, with gains in South Korea and Australia.
The yen briefly rose but settled at 146.68 per dollar. The dollar index held flat at 97.45, marking a three-day decline. U.S. 10-year Treasury yields rose slightly to 4.3579% following recent criticism from Trump directed at Fed Chair Jerome Powell. Treasury Secretary Scott Bessent defended Fed independence but warned against “mandate creep.”
Spot gold remained stable at $3,429 per ounce as traders balanced risk appetite with safe-haven demand.
