Fed Holds Rates Steady as US Dollar Slides, Euro and Yen Gain 
BOJ Holds Rates at 1% as Inflation Outlook Eases, October Rate Hike Still Possible 
South Korea’s KOSPI Soars as Samsung, SK Hynix Rebound on Microsoft-Fueled AI Rally 
Iran Warns of Retaliation as Trump Threatens New Strikes, Oil Risks Intensify 
Asian Stocks Rally as AI Optimism Lifts Markets; Yen Holds Gains Ahead of BOJ Decision 
Oil Prices Head for 20% Monthly Surge as Middle East Supply Risks Persist 
Trump-Backed Russia Sanctions Bill Faces House Hurdles Over Tariff Powers 
Fed Holds Interest Rates Steady as Kevin Warsh Says Rising Treasury Yields Tighten Financial Conditions 
China PMI Falls Into Contraction as Manufacturing, Services Weaken in July 
Gold Ends July Higher as Weaker Dollar Offsets Fed Inflation Concerns 
BOJ Rate Decision in Focus as Sticky Inflation, Weak Yen Shape USD/JPY and Nikkei Outlook 
Dollar Posts Worst Monthly Loss Since April as Fed Uncertainty and Yen Intervention Shake FX Markets 
Japan Yen Surges on Reported FX Intervention as Dollar Slides After Fed, BoE Holds Rates 
Asian Currencies Hold Steady After Fed Decision as Dollar Finds Support 
US Jobs Report, Fed Outlook, and Big Tech Earnings Put Stock Market in Focus 
Asian Stocks Tumble as Tech Selloff Deepens Ahead of Fed Decision, Big Tech Earnings 
South Korea Exports Surge 62.8% in July on AI Chip Demand 
Gold prices traded little changed on Wednesday after posting strong gains in the previous session, as weaker-than-expected U.S. inflation data supported demand for safe-haven assets while cautious comments from Federal Reserve Chair Kevin Warsh limited further upside.
Spot gold (XAU/USD) edged up 0.07% to $4,055.63 per ounce, while gold futures slipped 0.19% to $4,062.05. The precious metal remained near record levels as investors balanced easing inflation with ongoing geopolitical uncertainty and the Federal Reserve’s policy outlook.
Bullion rallied after U.S. consumer prices unexpectedly declined in June, marking the first monthly drop in inflation in six years. The softer inflation report boosted U.S. Treasury prices, weakened the U.S. dollar, and increased the appeal of non-yielding assets such as gold.
The latest inflation figures also prompted traders to significantly reduce expectations for another interest rate hike. According to CME FedWatch data, markets now see only a 16.6% probability of a 25-basis-point increase at the Fed’s July 28-29 meeting, down sharply from 41% a day earlier.
However, gains in gold were capped after Warsh reiterated that returning inflation to the Federal Reserve’s 2% target remains the central bank’s priority. His remarks signaled that policymakers remain prepared to tighten monetary policy again if inflationary pressures strengthen.
Meanwhile, geopolitical tensions in the Middle East continued to support demand for safe-haven assets while keeping investors alert to potential inflation risks. President Donald Trump withdrew a proposal to impose a 20% fee on cargo passing through the Strait of Hormuz, but the U.S. maintained its naval blockade of Iranian shipping and continued military operations targeting Iran’s capabilities.
Oil prices also remained elevated, with Brent crude holding above $85 per barrel and West Texas Intermediate (WTI) trading near $79. Higher energy prices could reignite inflation concerns if they persist.
Investors are now awaiting upcoming U.S. producer price index (PPI) data for additional clues on inflation trends and the Federal Reserve’s next policy move, factors that are expected to influence the near-term direction of gold prices.
