Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Gold Prices Head for Biggest Weekly Loss Since June as Fed Rate Outlook Weighs 
U.S. markets were rattled Friday as sharp downward revisions to prior jobs data and President Donald Trump’s sudden firing of the Bureau of Labor Statistics (BLS) chief fueled fears over economic data reliability and Federal Reserve policy.
The July employment report showed nonfarm payrolls rising by just 73,000, well below forecasts of 110,000. June’s figure was slashed from 147,000 to 14,000, and May’s was revised from 144,000 to 19,000 — a combined downward revision of 258,000 jobs. Economists warned such significant adjustments suggest the Fed may have misread the labor market and could accelerate rate cuts to stabilize growth.
Trump, alleging the data was “rigged” to damage Republicans, ordered BLS Commissioner Erika McEntarfer’s dismissal, a move analysts say risks undermining trust in future economic reports. The turmoil coincided with the resignation of Fed Governor Adriana Kugler, giving Trump an opportunity to reshape the Federal Open Market Committee amid already strained relations.
Markets swiftly priced in easing: CME data showed the probability of a September rate cut jumping to 81% from 38% the day before. Treasury yields plunged, with the 10-year falling 15 basis points to 4.22%, its steepest drop since April, while the S&P 500 slid 1.6% to its lowest level since early July.
Investors remain concerned about the dual drag of weakening employment and Trump’s tariffs, which could worsen inflation and stall growth. Analysts warn job creation is nearing “stall speed,” raising fears of a potential recession.
The Fed, led by Chair Jerome Powell, faces heightened pressure to navigate policy amid unreliable data, shifting trade policies, and mounting market anxiety.
