Gold Holds Near $4,400 as Fed Hike Bets Rise 
Iran Plans New Gulf Restricted Zone as Hormuz Tensions Push Oil Higher 
Iran Vows Tougher Response as U.S. Sanctions Squeeze Economy 
OPEC+ Expected to Hold October Oil Output Steady 
U.S. Payrolls Seen Rebounding in August as Labor Market Stays Soft 
China Expands Influence in Global Gold Market 
UK House Prices Fall for First Time Since 2023 
ECB Set for September Rate Hike as Energy Prices Fuel Inflation 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
Chinese AI Stocks Rally After OpenAI Launches GPT-6 Astra 
JPMorgan Sees ECB Raising Rates to 2.75% in December 
US Stock Futures Mixed as Strong Jobs Data Boosts Fed Rate Hike Bets 
Uranium Prices Could Top $100 as Nuclear Demand Grows 
Hong Kong Eyes Offshore Yuan Expansion, Deeper China Market Links 
China to Inject $45 Billion Into State Financial Institutions 
Jefferies Names 6 Top India Stock Picks Across Key Sectors 
Asian Currencies Rise as Yen Surges on Fed Rate Outlook 
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The U.S. dollar remained near multi-month lows against major currencies on Tuesday as softer economic data reduced expectations for an imminent Federal Reserve interest rate hike. However, escalating Middle East tensions and rising oil prices continued to cloud the global market outlook.
The euro traded around $1.1581 during early Asian trading, staying close to Monday’s two-month high of $1.1614. The British pound stood at $1.3548, just below the three-month peak reached in the previous session.
Recent U.S. economic data has weakened the case for tighter monetary policy. Retail sales declined in July for the first time in nine months, while unexpected job losses and relatively mild inflation readings added to signs of slowing economic momentum. Traders now price in a 35% probability of a Fed rate hike in September, down from 52.2% a week earlier, according to CME FedWatch.
Inflation risks remain a key concern, particularly as the Strait of Hormuz remains effectively closed amid the ongoing U.S.-Iran conflict. Iran has reportedly shifted toward a “fully offensive” military posture after negotiations over a permanent end to hostilities stalled.
Higher energy prices are adding pressure to global bond markets. Brent crude futures rose 0.3% to $91.14 per barrel after reaching their highest level since July 30 on Monday. Long-term government bond yields have also climbed, with the U.S. 30-year Treasury yield hovering near a two-decade high and Japan’s 10-year government bond yield reaching its highest level since September 1996.
Investors are also scrutinizing U.S. Treasury auctions as concerns grow over government borrowing and fiscal discipline, prompting demands for higher long-term yields.
Meanwhile, the Japanese yen traded at 159.46 per dollar, keeping attention on the Bank of Japan’s upcoming policy meeting and expectations for further rate increases. The Australian dollar strengthened 0.11% to $0.71119, near its strongest level since early June, while the New Zealand dollar traded around $0.5902.
