Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
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 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Oil prices remained largely stable in Asian trading on Friday, with traders assessing diplomatic developments between the U.S., Ukraine, and Russia while anticipating a crucial OPEC+ meeting that could shape the global crude supply outlook for early 2026. Brent crude futures for January hovered at $63.35 per barrel, while WTI crude futures rose 0.6% to $59.02, supported by expectations of a potential Federal Reserve rate cut next month. Both benchmarks were on track to gain more than 1% for the week, recovering slightly from recent volatility.
Market sentiment was influenced by renewed diplomatic efforts led by Washington to advance a revised peace framework aimed at ending the nearly four-year war between Russia and Ukraine. The proposal, reportedly discussed in Geneva, outlines phased security guarantees and territorial arrangements that Western officials hope could serve as the basis for broader negotiations with Moscow. Any meaningful progress could gradually ease sanctions-related pressure on Russian oil exports, potentially lowering the geopolitical risk premium priced into crude markets.
Russian President Vladimir Putin acknowledged that the U.S.-Ukraine draft could be a foundation for future talks but emphasized that no agreement had been finalized and that Moscow would not make significant concessions. U.S. special envoy Steve Witkoff is scheduled to visit Moscow next week, a move that could slightly temper supply concerns, though analysts remain skeptical of an imminent breakthrough.
At the same time, the oil market is looking ahead to the upcoming OPEC+ meeting. The alliance is widely expected to maintain current production levels rather than raise output. Delegates have indicated the group will likely prioritize a long-planned capacity review as it weighs rising non-OPEC production against uneven global demand. Analysts at ING noted that fundamental conditions remain broadly similar to those at the previous meeting, suggesting no major policy shifts are expected.
