Asian Stocks Slip as US-Iran Ceasefire Hopes Lift Oil, Dollar Strength Persists 
Oil Prices Slip as U.S.-Iran Peace Talks and Strait of Hormuz Risks Keep Markets on Edge 
RBA Minutes Signal Australia Central Bank Remains Ready to Raise Interest Rates if Inflation Persists 
Trump Questions Housing Bill as He Prioritizes SAVE America Act 
Asian Stocks End Strong Quarter as Dollar Surges, Yen Hits 40-Year Low Ahead of US Jobs Data 
Dollar Slips Ahead of Key U.S. Jobs Data as Fed Rate Outlook, ECB, and Iran Talks Shape Forex Markets 
Oil Prices Rise as US-Iran Tensions Threaten Strait of Hormuz Oil Shipments 
US Stock Futures Steady as Investors Await Payrolls Data and Monitor Iran Tensions 
Gold Price Hits Annual Low as Fed Rate Hike Bets and Sticky Inflation Weigh on Bullion 
China Sets 1.25% Overnight Reverse Repo Rate Below Market Expectations 
Gold Price Falls as Fed Rate Hike Fears and U.S.-Iran Tensions Weigh on Bullion 
Economic pessimism has set in – but there are reasons for Australians to be hopeful 
Gold Prices Drop as Fed Rate Outlook and Iran Tensions Weigh on Market 
Asian Currencies Stay Range-Bound as Investors Eye China Data, RBNZ Outlook and U.S.-Iran Ceasefire 
Trump Suspends Some Morocco Fertilizer Tariffs to Ease U.S. Supply Shortage 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
The U.S. dollar strengthened on Thursday as rising Treasury yields fueled expectations that the Federal Reserve could raise interest rates later this year. Investors also closely monitored the high-profile summit between U.S. President Donald Trump and Chinese President Xi Jinping, with global markets reacting to developments in U.S.-China trade relations.
During the two-day meeting, Xi acknowledged progress in trade negotiations but warned that disagreements over Taiwan could negatively impact ties between the world’s two largest economies. Trump described the gathering as potentially the “biggest summit ever,” adding to market anticipation surrounding possible economic agreements.
China’s yuan remained near its strongest levels in more than three years, with the onshore yuan holding close to 6.7840 per dollar and the offshore yuan touching 6.7817. Analysts at Barclays noted that a stable yuan could support smoother discussions between Washington and Beijing, although Chinese authorities may resist rapid currency appreciation through intervention measures.
In the broader forex market, the euro traded near $1.1714 and remained on track for its biggest weekly drop in two months. The British pound hovered around $1.3524 as political uncertainty in the United Kingdom pressured sterling.
The U.S. Dollar Index climbed to 98.48, gaining over 0.6% for the week. Meanwhile, the Japanese yen found support after Bank of Japan board member Kazuyuki Masu suggested that interest rates should rise if economic conditions remain stable.
Recent U.S. inflation data has significantly boosted the dollar. Producer prices posted their sharpest increase in four years in April, while consumer inflation accelerated to its fastest annual pace in three years. The data strengthened market expectations for tighter monetary policy under incoming Fed Chair Kevin Warsh.
According to CME FedWatch data, markets now see a 31.8% probability of a Fed rate hike in December, nearly double last week’s expectations. Rising inflation concerns also pushed Treasury yields higher, with the 10-year yield nearing one-year highs.
Elsewhere, the Australian dollar remained strong near a four-year peak due to hawkish domestic rate expectations, while the New Zealand dollar edged slightly lower.
