Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Trump and Lula Discuss Trade, Sanctions, and Security in “Productive” Phone Call 
International developments moved to the back seat this week, as the risks stemming from Greek debt crisis and China’s equity market eased off for now. However, renewed weakness in commodity sector and concerns over corporate profitability weighed on market sentiment.
The domestic data flow remained relatively upbeat. Initial jobless claims fell to a multi-decade low. Existing home sales rose by 3.2% in June to a new cycle high. New home sales disappointed, declining by 6.8% in June, however they were still up 18% relative to a year ago.
Next week should bring further evidence of a rebounding economy, with second quarter GDP reading expected to show a 2.5% gain. The upturn in economic data is likely to be recognized in the Fed’s July interest rate announcement, which we expect to set the stage for September rate liftoff.
