Gold Cracks Below $4,500 as Safe-Haven Shine Fades; Technical Breakdown Signals Sell-on-Rallies Toward $4,000 
ECB’s Philip Lane Warns Middle East Conflict Could Keep Inflation Elevated 
Macquarie Names Five Taiwan AI Stocks Set to Benefit From Data Center Growth in 2026 
South Korea Central Bank Holds Interest Rates Steady Amid Inflation Concerns 
European EV Sales Surge in April 2026 as Tesla and Chinese Automakers Gain Ground 
S&P 500, Nasdaq Hit Record Highs as Iran Ceasefire Talks and AI Rally Boost Markets 
Asian Markets Slide as New U.S. Strikes on Iran Spark Investor Caution 
Spying, Southampton and economic pressure cooker of the ‘richest match in football’ 
New World Screwworm Found Near U.S. Border Raises Threat to Cattle Industry and Beef Prices 
European Stocks Rise as AI Optimism Offsets U.S.-Iran Tensions 
Asian Currencies Steady as U.S.-Iran Ceasefire Extension Hopes Weigh on Dollar 
The Japanese Yen fell sharply this week as uncertainty around Japan's upcoming snap election worried investors. The Yen dropped over 100 pips against the Dollar just yesterday, showing a strong decline.
Japan's Prime Minister Shigeru Ishiba has called a snap election for Oct. 27 due to recent scandals within the ruling Liberal Democratic Party (LDP). The LDP has been in power for most of the last 70 years but is facing declining support, with only 30% of people viewing it positively. Many Japanese adults feel disconnected from any political party, and satisfaction with democracy is at a low point. Voter turnout is also low, despite automatic voter registration.
The Canadian dollar showed minor gains as the market priced in a 50 bpbs rate cut.
The Bank of Canada cut its overnight interest rate by 0.50% to 3.75% and will keep normalizing its balance sheet. They noted that inflation has dropped and is expected to stay close to their target of 2%. The economy grew by about 2% in the first half of the year, but growth is expected to slow to 1.75% in the second half. The Bank believes GDP growth will gradually improve as interest rates lower.
The Dollar keeps gaining strength across the board, helped by higher interest rates and expectations that the Federal Reserve will slow down its rate cuts.
Major economic data to watch today - US, UK, German, and Eurozone flash manufacturing PMI and services PMI.
