Yen Falls to 40-Year Low as Markets Watch Japan Intervention and U.S. Jobs Report 
Asian Currencies Stay Range-Bound as Investors Eye China Data, RBNZ Outlook and U.S.-Iran Ceasefire 
China Factory PMI Seen Returning to Growth in June as AI Export Demand Supports Economy 
Central Banks Eye Gold, Reduce Dollar Exposure as AI Adoption Accelerates: OMFIF Survey 
Oil Prices Rise as US-Iran Tensions Threaten Strait of Hormuz Oil Shipments 
Asian Stocks End Strong Quarter as Dollar Surges, Yen Hits 40-Year Low Ahead of US Jobs Data 
US Stock Futures Rise as US-Iran Ceasefire Hopes Boost Market Sentiment 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Gold Price Hits Annual Low as Fed Rate Hike Bets and Sticky Inflation Weigh on Bullion 
RBA Minutes Signal Australia Central Bank Remains Ready to Raise Interest Rates if Inflation Persists 
China Manufacturing PMI Edges Higher in June as Exports and AI Investment Boost Growth 
Trump Urges Gasoline Retailers to Cut Prices to $2.50 Per Gallon, Warns of Legal Action 
Economic pessimism has set in – but there are reasons for Australians to be hopeful 
China Expands Export Controls, Adds 20 Japanese Companies to Restricted List 
Argentina Economy Shrinks 1.5% in April, Recovery Under Milei Loses Momentum 
U.S. stock index futures dropped sharply Sunday evening after ceasefire negotiations between Washington and Tehran broke down, raising fears of prolonged conflict and further disruptions to global energy markets. The deteriorating geopolitical situation sent oil prices surging and renewed inflation concerns on Wall Street.
S&P 500 futures slid 1.2% to 6,773.75, Nasdaq 100 futures fell 1.4% to 24,933.75, and Dow Jones futures declined 1.1% to 47,578.0 by 7:41 PM ET. The selloff came after President Donald Trump ordered a naval blockade of the Strait of Hormuz, effective Monday at 10:00 AM ET, targeting all maritime traffic to and from Iran. U.S. and Iranian officials met in Pakistan over the weekend but failed to bridge key differences, including Iran's nuclear program and unrestricted access through the strategically vital waterway.
The breakdown in talks signals little near-term de-escalation, keeping global oil and gas markets under significant pressure. Brent crude surged back above $100 per barrel following the announcement, amplifying fears of energy-driven inflation in the months ahead. This follows a stronger-than-expected Consumer Price Index reading for March, which showed inflation climbing sharply — largely fueled by rising energy costs — and raised the possibility that the Federal Reserve could hold interest rates steady throughout the year, weighing on economic growth.
Wall Street ended Friday on mixed footing. The S&P 500 and the Dow Jones Industrial Average closed lower, while the Nasdaq Composite edged higher, supported by gains in semiconductor stocks following strong March revenue figures from chipmaker TSMC. Investors are now closely watching the first-quarter earnings season. Goldman Sachs is set to report Monday, followed by JPMorgan Chase, Wells Fargo, and Citigroup on Tuesday — results that could set the tone for broader market sentiment amid mounting macro uncertainty.
