Asian Currencies Strengthen as Indian Rupee and Australian Dollar Rally 
Trump Announces U.S.–India Trade Deal Cutting Tariffs, Boosting Markets and Energy Ties 
Gold, Silver, and Platinum Rally as Precious Metals Recover from Sharp Selloff 
South Korea Inflation Hits Five-Month Low as CPI Reaches Central Bank Target 
JPMorgan Lifts Gold Price Forecast to $6,300 by End-2026 on Strong Central Bank and Investor Demand 
Asian Markets Slide as Silver Volatility, Earnings Season, and Central Bank Meetings Rattle Investors 
Oil Prices Slide Nearly 3% as U.S.-Iran Talks Ease Geopolitical Tensions 
Indian Rupee Strengthens Sharply After U.S.-India Trade Deal Announcement 
Japan Finance Minister Defends PM Takaichi’s Remarks on Weak Yen Benefits 
South Korea Factory Activity Hits 18-Month High as Export Demand Surges 
UK Employers Plan Moderate Pay Rises as Inflation Pressures Ease but Persist 
EU Recovery Fund Faces Bottlenecks Despite Driving Digital and Green Projects 
Gold and Asian Stocks Rebound as Market Volatility Eases and Global Sentiment Improves 
Gold Prices Stabilize in Asian Trade After Sharp Weekly Losses Amid Fed Uncertainty 
Starmer’s China Visit Highlights Western Balancing Act Amid U.S.-China Rivalry 
U.S. Stock Futures Rise as Investors Eye Big Tech Earnings and AI Momentum 
India Budget 2025 Highlights Manufacturing Push but Falls Short of Market Expectations 
Oil prices edged lower on Thursday, reversing gains from the previous session, amid concerns over weakening U.S. demand. Government data showed an unexpected rise in crude inventories, raising doubts about consumption trends in the world's largest oil consumer.
Brent crude futures dropped 24 cents, or 0.35%, to $68.87 a barrel, while U.S. West Texas Intermediate (WTI) crude slipped by the same margin to $67.21. Both benchmarks had surged over 3% on Wednesday, partly fueled by geopolitical tensions and positive trade developments.
The U.S. Energy Information Administration (EIA) reported a surprise 3.8 million-barrel increase in domestic crude stockpiles last week, pushing total inventories to 419 million barrels. Analysts had expected a 1.8 million-barrel draw, fueling market uncertainty. Gasoline demand also declined to 8.6 million barrels per day, casting a shadow over peak summer driving season consumption.
Wednesday’s oil rally was supported by Iran’s decision to suspend cooperation with the U.N. nuclear watchdog, reviving fears of renewed conflict in the Middle East. Additionally, a new U.S.-Vietnam trade deal, imposing 20% tariffs on many Vietnamese exports, bolstered hopes of improved global trade stability, potentially supporting oil demand growth.
Traders are now closely monitoring the upcoming U.S. employment report, due Thursday, which could influence expectations around potential Federal Reserve interest rate cuts. Lower rates typically stimulate economic activity, potentially boosting fuel consumption.
A private payrolls report released Wednesday showed a contraction for the first time in two years. However, analysts cautioned against drawing conclusions from the data, citing a weak historical correlation with official government statistics.
The combination of rising crude stocks and cautious demand signals is likely to keep oil markets on edge in the near term.
