Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Japan’s yen surged sharply against the U.S. dollar on Friday as currency traders assessed the growing likelihood of official intervention to stabilize the weakening currency. The sudden move in the Japanese yen came amid heightened geopolitical tensions, rising oil prices, record-breaking gold, and cautious global equity markets, creating a complex backdrop for investors.
The yen showed extreme volatility, with two abrupt spikes that fueled speculation Japanese authorities may have conducted a rate check, often seen as a precursor to direct market intervention. According to a source cited by Reuters, the New York Federal Reserve carried out dollar-yen rate checks around midday, intensifying market chatter. The dollar eventually fell 1.66% against the yen to 155.77, while the dollar index dropped 0.84% to 97.47, reflecting broader dollar weakness.
Meanwhile, the Bank of Japan reiterated its readiness to continue raising interest rates despite political sensitivities ahead of a snap election. Japanese Finance Minister Satsuki Katayama said she was closely monitoring currency markets but declined to confirm any intervention. Analysts remained divided on whether Friday’s move was actual intervention or traders positioning ahead of one.
In commodities, oil prices jumped nearly 3% after U.S. President Donald Trump increased pressure on Iran through sanctions on oil-transporting vessels and warned Tehran against escalating nuclear or domestic unrest. U.S. crude settled at $61.07 a barrel, while Brent crude closed at $65.88.
Safe-haven assets surged as well, with gold and silver hitting record highs amid geopolitical uncertainty and falling U.S. Treasury yields. Spot gold rose to $4,981.43 an ounce, approaching the $5,000 mark, while silver climbed above $100 an ounce for the first time. Treasury yields declined ahead of next week’s Federal Reserve meeting, where markets are pricing a 97% chance that interest rates will remain unchanged.
Global equities were mixed, with Wall Street showing muted movement after a volatile week. Investors remained cautious ahead of key economic data, earnings reports from major companies, and ongoing geopolitical developments, including stalled Russia-Ukraine peace talks. Overall, markets reflected a wait-and-see mood as currency intervention fears, geopolitical risks, and central bank decisions dominated investor focus.
