Chinese AI Stocks Rally After OpenAI Launches GPT-6 Astra 
Yen Rebounds as BOJ Rate Hike Bets Rise 
OPEC+ Expected to Hold October Oil Output Steady 
US Oil Blockade Deepens Iran’s Economic Crisis 
Iran Plans New Gulf Restricted Zone as Hormuz Tensions Push Oil Higher 
US Stock Futures Mixed as Strong Jobs Data Boosts Fed Rate Hike Bets 
UK House Prices Fall for First Time Since 2023 
Asian Currencies Mixed as Yen Rallies on BOJ Bets 
JPMorgan Sees ECB Raising Rates to 2.75% in December 
Iran Vows Tougher Response as U.S. Sanctions Squeeze Economy 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
China Expands Influence in Global Gold Market 
Asian Stocks Rally as Fed Rate Hike Fears Ease 
Gold Holds Near $4,400 as Fed Hike Bets Rise 
Japan Foreign Reserves Plunge $79.6 Billion After Record Yen Intervention 
China to Inject $45 Billion Into State Financial Institutions 
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Oil prices climbed on Tuesday as stalled U.S.-Iran peace negotiations and uncertainty over reopening the Strait of Hormuz renewed concerns about global energy supplies. Asian stock markets, meanwhile, traded cautiously as investors assessed geopolitical tensions and the outlook for inflation and interest rates.
Brent crude futures reached $88.00 per barrel, while U.S. crude futures rose to $82.45, their highest levels since July 31. Both contracts had surged roughly 5% on Monday.
The gains followed another escalation in tensions between Washington and Tehran. U.S. President Donald Trump responded to Iran’s conditions for a peace agreement by demanding compensation for people killed in wars, attacks and protests. The tougher rhetoric could complicate negotiations aimed at reopening the Strait of Hormuz, a critical route for global oil shipments.
IG market analyst Tony Sycamore described the situation as a standoff, suggesting oil prices could remain within a $75-$95 range while markets wait for a breakthrough.
Higher energy prices are also increasing attention on Wednesday’s U.S. July consumer price index report. Economists expect headline CPI to rise 0.1% month-on-month and core inflation to increase 0.2%. A stronger-than-expected reading could revive expectations for a Federal Reserve rate hike, with markets currently divided over the next policy move.
Asian equities were mixed. MSCI’s broadest Asia-Pacific index outside Japan gained 0.2%, while South Korea’s Kospi advanced 0.3%. Nasdaq futures rose 0.28% and S&P 500 futures added 0.1%.
Investor sentiment was also influenced by Nvidia’s announcement that it is partnering with six major financial institutions on compute financing platforms designed to raise more than $500 billion in third-party capital for AI infrastructure.
Currency markets remained focused on the Japanese yen, which traded near 159 per dollar amid concerns about further U.S.-Japan intervention. The euro traded around $1.1546, while sterling stood at $1.3512.
Gold benefited from continued market uncertainty, with spot prices rising 0.5% to $4,409.81 an ounce as geopolitical tensions, higher oil prices and inflation concerns supported demand for safe-haven assets.
