South Korea Warns Won Is Undervalued, Boosts FX Coordination With Japan 
Gold Price Holds Above $4,000 as Fed Rate Hike Expectations and U.S. Jobs Data Weigh on Market 
Goldman Sachs Says China Competition Weighs More on EU Growth Than Trade Deficit 
US Resumes Dollar Shipments to Iraq After Months-Long Suspension 
Oil Prices Rise as U.S.-Iran Talks Keep Geopolitical Risks in Focus 
Moody’s Says Peru’s President-Elect Keiko Fujimori Could Boost Investor Confidence 
Turkey Vehicle Sales Fall 11.4% in June as Auto Market Weakens 
Australia Trade Balance Swings to Surprise Deficit as Imports Outpace Exports in May 
Greece’s Bad Loan Crisis Continues to Limit Credit Access Despite Economic Recovery 
Denmark Central Bank Intervenes to Support Krone Peg Against Euro 
Asian Currencies Slip as Dollar Holds Firm, Yen Near Four-Decade Low Ahead of Fed, Jobs Data 
Trump Administration Declines USMCA Renewal, Opens Talks on New Trade Changes 
US Dollar Rises as Fed Rate Outlook Stays Hawkish, Euro Slips and Yen Near 40-Year Low 
Brazil to Phase Out Gasoline Subsidy First as Diesel Support Stays Longer 
Gold Price Surges Above $4,120 as Weak US Jobs Data Lowers Fed Rate Hike Expectations 
US Stock Futures Hold Steady Ahead of June Jobs Report as Fed Rate Outlook Remains in Focus 
South Korean Stocks Tumble as AI Chip Selloff Hits Asian Markets 
Oil prices traded little changed on Thursday as investors paused after weeks of sharp declines that pushed crude benchmarks back to levels seen before the recent U.S.-Iran conflict. Improved shipping activity through the Strait of Hormuz and easing concerns over supply disruptions helped keep prices under pressure, despite renewed military tensions between the United States and Iran earlier this week.
Brent crude futures for September delivery edged slightly higher to $71.60 per barrel, while U.S. West Texas Intermediate (WTI) crude for August delivery slipped 0.2% to $68.47 per barrel during afternoon trading.
The oil market has experienced significant volatility this year. Brent crude surged during the first quarter before reversing sharply in the second quarter, marking one of its steepest quarterly declines in years. The sell-off accelerated after the United States and Iran signed a memorandum of understanding in France on June 17, allowing shipping to resume through the strategically important Strait of Hormuz and easing fears of prolonged supply disruptions.
Although fresh exchanges of strikes between U.S. and Iranian forces briefly reignited geopolitical concerns earlier this week, market sentiment improved after indirect technical negotiations between both countries took place in Doha. While no final agreement was reached, Qatari officials described the talks as constructive, with both sides agreeing to continue discussions focused on maritime security, shipping through the Strait of Hormuz, and other confidence-building measures.
Shipping data also supported the calmer outlook. According to Kpler, vessel traffic through the Strait of Hormuz has remained stable since the memorandum was signed, including continued LNG tanker crossings, signaling improving conditions for energy exports from Gulf producers.
Meanwhile, ample global supply continues to weigh on crude prices. The U.S. Energy Information Administration reported domestic crude oil production reached a record 13.93 million barrels per day in April, reinforcing expectations of strong supply.
Analysts also noted that easing geopolitical risks have reduced immediate concerns over oil availability, although uncertainty in the Middle East continues to provide some support for prices. At the same time, China's commodity demand remains resilient, with ANZ highlighting gains in its China Commodity Index and energy sector.
Investors are now closely watching OPEC+, as the producer group is widely expected to consider another production increase in August, a move that could further influence global oil prices in the coming weeks.
