RBA Raises Interest Rates by 25 Basis Points as Inflation Pressures Persist 
Starmer’s China Visit Highlights Western Balancing Act Amid U.S.-China Rivalry 
UK Employers Plan Moderate Pay Rises as Inflation Pressures Ease but Persist 
Japan Finance Minister Defends PM Takaichi’s Remarks on Weak Yen Benefits 
IMF Forecasts Global Inflation Decline as Growth Remains Resilient 
South Korea Inflation Hits Five-Month Low as CPI Reaches Central Bank Target 
Japan’s Agricultural, Forestry and Fishery Exports Hit Record High in 2025 Despite Tariffs 
Oil Prices Steady as Markets Weigh U.S.-Iran Talks, Dollar Strength Caps Gains 
Trump Announces U.S.–India Trade Deal Cutting Tariffs, Boosting Markets and Energy Ties 
Gold Prices Stabilize in Asian Trade After Sharp Weekly Losses Amid Fed Uncertainty 
South Korea Factory Activity Hits 18-Month High as Export Demand Surges 
Indian Rupee Strengthens Sharply After U.S.-India Trade Deal Announcement 
Asian Markets Slide as Silver Volatility, Earnings Season, and Central Bank Meetings Rattle Investors 
Dollar Holds Firm as Strong U.S. Data, Fed Expectations and Global Central Bank Moves Shape Markets 
Gold, Silver, and Platinum Rally as Precious Metals Recover from Sharp Selloff 
Asian Currencies Strengthen as Indian Rupee and Australian Dollar Rally 
U.S. stock markets closed mixed Tuesday as the Nasdaq and S&P 500 slipped due to a sharp sell-off in overbought large-cap tech stocks, while the Dow Jones ended higher on gains in cyclical sectors. The Nasdaq dropped 0.82% to 20,202.89 and the S&P 500 edged down 0.11% to 6,198.01. In contrast, the Dow surged 0.91%, rising 400.17 points to 44,494.94.
Weakness in tech stocks, particularly among megacaps tracked by the NYFANG index—which fell 1.8%—weighed on overall sentiment. Mizuho’s Farz Azarm noted that recent extreme bullishness in tech led to a “massive unwind” of gains.
Low liquidity contributed to volatility, but investor optimism was buoyed by President Trump’s statement that he would not extend the July 9 deadline for global trade negotiations. Meanwhile, the Senate’s approval of Trump’s sweeping tax package sparked debate over its stimulative impact versus its $3.3 trillion cost.
Tesla shares tumbled 5.4% following renewed tensions between CEO Elon Musk and Trump, who threatened to withdraw federal subsidies from Musk’s companies. Despite the tech downturn, the Dow was lifted by economically sensitive stocks, with the Dow Transportation index jumping 2.9%, its strongest single-day rise since May.
Economic data also showed resilience. May job openings rose unexpectedly, while the ISM manufacturing PMI ticked up to 49.0. These indicators, along with Powell’s cautious tone on rate cuts, reinforced expectations for the Fed to hold steady near-term.
Money markets now price in a 21.2% chance of a July rate cut, with 64 basis points projected for 2025. Meanwhile, Macau’s jump in gambling revenue boosted shares of U.S. casino operators, with Wynn, MGM, and Las Vegas Sands each climbing over 7%.
