Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
Dollar Eases as Middle East Conflict, Fed Outlook and Japan Pension Policy Drive FX Markets 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Iraq PM Visits Washington as U.S. Oil, Gas Deals Take Center Stage 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
South Korea Central Bank Set to Raise Interest Rates as Inflation Stays Elevated 
Asian Currencies Weaken as Stronger Dollar Weighs, Yen Supported by GPIF Repatriation Hopes 
Global oil markets experienced a dramatic selloff on Wednesday after U.S. President Donald Trump announced a two-week ceasefire agreement with Iran, easing fears of a major disruption to Middle East energy supplies. Brent crude futures plummeted 13.6% to $94.40 per barrel, while U.S. West Texas Intermediate crude dropped 15.8% to $95.20 per barrel during early morning trading.
The de-escalation came just hours before Trump's self-imposed 8:00 p.m. Eastern deadline, which had threatened devastating military strikes on Iranian infrastructure if Tehran refused to reopen the Strait of Hormuz. Trump stated that U.S. military objectives had already been met and that Iran had submitted a multi-point proposal that could form the foundation of a broader diplomatic agreement. Pakistan played a significant behind-the-scenes role in brokering the last-minute talks between both nations.
Iran signaled a conditional openness to de-escalation, indicating that vessels could safely transit the Strait during the ceasefire period, so long as hostilities ceased and ships coordinated with Iranian authorities. Trump also took to social media to announce that the U.S. would assist in clearing the growing tanker backlog in the waterway, calling the development "a big day for world peace."
The Strait of Hormuz, a narrow chokepoint that handles approximately 20% of the world's oil supply, had been effectively shut for weeks due to Iranian threats against passing vessels. Reports also emerged that Iran had been developing a fee-based transit system for certain ships crossing the strait.
Despite the positive developments, market analysts remain cautious. Capital Economics Group Chief Economist Neil Shearing noted that while the framework appears to allow full tanker passage, the specific terms governing transit remain uncertain. Investors are now closely watching whether oil flows through the strait will resume consistently, as some vessel operators are still unsure whether conditions are safe enough to navigate.
