Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
European Stocks Slip as Middle East Tensions and Hormuz Threat Rattle Markets 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
South Korea Central Bank Set to Raise Interest Rates as Inflation Stays Elevated 
Dollar Rises as Middle East Conflict Fuels Inflation and Rate Hike Fears 
Asian Currencies Weaken as Stronger Dollar Weighs, Yen Supported by GPIF Repatriation Hopes 
South Korea’s KOSPI Triggers Trading Curb as AI Chip Stock Selloff Deepens 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Iraq PM Visits Washington as U.S. Oil, Gas Deals Take Center Stage 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Global oil prices soared Friday, posting strong weekly gains as tensions between the United States and Iran continued to intensify and the Strait of Hormuz remained effectively closed, fueling fears of a prolonged global energy supply crisis.
Brent crude futures climbed 3.3% to $109.27 per barrel, while U.S. West Texas Intermediate (WTI) crude rose 4.2% to $105.41 per barrel. The sharp rally puts Brent on track for an 8% weekly gain, while WTI is set to rise more than 10% for the week.
Investor concerns deepened after U.S. President Donald Trump signaled growing frustration with Tehran. Trump rejected Iran’s latest response to a U.S. proposal aimed at ending hostilities and warned that his patience was wearing thin. In recent remarks, he reiterated that any agreement must guarantee Iran will not possess nuclear capabilities.
Market sentiment also remained cautious after Trump’s highly anticipated meeting with Chinese President Xi Jinping ended without any major breakthrough regarding the Middle East conflict. Although both leaders reportedly agreed that the Strait of Hormuz must remain open to protect global energy supplies, no concrete actions or diplomatic progress were announced.
The closure of the Strait of Hormuz has become the biggest oil supply disruption in modern history. Nearly 20% of global oil and gas shipments normally pass through the critical waterway. While Iranian state media reported that some vessels recently crossed the route, shipping activity remains far below normal as tanker companies continue to avoid the area due to security risks.
The International Energy Agency warned that global oil markets could remain severely undersupplied through October, even if tensions ease in the coming weeks.
Meanwhile, discussions between the U.S. and China also focused on trade relations, artificial intelligence cooperation, and regional security. Despite optimistic expectations ahead of the summit, investors were left disappointed as no significant trade agreements or geopolitical solutions emerged from the talks.
