Dollar Holds Near Six-Week Low as Yen Loses Momentum Ahead of U.S. Jobs Data 
US Stock Futures Edge Higher as Tech Rally Continues Despite SpaceX and AMD Earnings Pressure 
Oil Prices Extend Three-Day Decline as Hopes Rise for U.S.-Iran Strait of Hormuz Deal 
Gulf Shipping Traffic Steady as U.S.-Iran Talks Remain Uncertain 
European Natural Gas Prices Hold Near Three-Week Lows Amid Middle East Talks and Supply Concerns 
25 Democratic-Led States Sue Trump Administration Over New Global Tariffs 
German Bund Yields Hit Three-Week Low as Energy Prices Ease and ECB Outlook Softens 
Asian Currencies Mixed as Yen Retreats, Traders Eye U.S.-Iran Talks and Fed Data 
European Stocks Near Record Highs as Earnings Strength Offsets Geopolitical Concerns 
Indonesia Q2 2026 GDP Growth Beats Forecast Despite Market Concerns 
Gold Price Hits Seven-Week High as Fed Rate Hike Bets Fade and Hormuz Deal Hopes Grow 
Trump Says U.S.-Iran Talks Progressing as Hopes Rise for Strait of Hormuz Reopening 
Asian Stocks Rise as AI Optimism Returns, Australia Hits Record High Ahead of RBI Decision 
Singapore Says One-Third of U.S. Exports Hit by New 12.5% Tariff 
RBI Holds Repo Rate at 5.25% as Inflation Risks and Global Uncertainty Persist 
Asian stock markets retreated on Thursday after an AI-fueled rally lost momentum, while oil prices remained stable as investors weighed the prospects of a potential Iran peace agreement and awaited key U.S. economic data.
MSCI’s broad Asia-Pacific index excluding Japan dropped 0.69%, with technology stocks leading the decline. South Korea’s benchmark index fell 3.64%, while Japan’s Nikkei lost 1.57%. Samsung Electronics declined 2.44%, SK Hynix tumbled 6.95%, Kioxia slid 9.61%, and Tokyo Electron fell 4.61%, reflecting weaker sentiment across the semiconductor sector.
The regional pullback followed losses on Wall Street, where the Nasdaq ended its multi-day winning streak after disappointing investor reactions to quarterly earnings from SpaceX and Advanced Micro Devices (AMD). Although SpaceX highlighted stronger-than-expected returns from its artificial intelligence investments, concerns remain over whether its profitable Starlink business can continue funding expensive AI infrastructure. AMD also exceeded analyst estimates but failed to meet elevated market expectations.
Oil prices traded in a narrow range as markets monitored reports of a possible agreement between Iran and Oman aimed at ending months of conflict involving the United States. According to Reuters, the proposed deal would give Tehran greater control over vessels entering the Gulf through the Strait of Hormuz, a vital global energy shipping route. Brent crude slipped 0.18% to $79.31 per barrel, while U.S. West Texas Intermediate eased 0.35% to $74.96.
Investors are also focusing on Friday’s U.S. nonfarm payrolls report after ADP data showed private employers added just 44,000 jobs in July, well below expectations. Economists surveyed by Reuters forecast payroll growth of 80,000 jobs, with the unemployment rate expected to remain at 4.2%. Following the weaker labor data, markets reduced expectations for a Federal Reserve rate hike in September to around 54%.
In currency markets, the U.S. dollar traded near 157.66 yen after last week’s rare joint intervention by Japan and the United States to support the Japanese currency. Analysts expect USD/JPY to remain range-bound until the U.S. employment report provides clearer direction. Meanwhile, safe-haven demand lifted spot gold 1.06% to $4,290.26 per ounce, while silver gained 0.65% to $62.48.
