Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Lee Seung-heon Signals Caution on Rate Hikes, Supports Higher Property Taxes to Cool Korea’s Housing Market 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
Yen Slides as Japan Election Boosts Fiscal Stimulus Expectations 
Gold and Silver Prices Climb in Asian Trade as Markets Eye Key U.S. Economic Data 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
The U.S. Treasuries surged Monday amid a comeback in trade talks with China over tariffs this week. However, it will be a quiet start to the week in the US, with the first important diary entries being Wednesday’s release of the minutes from this month’s FOMC meeting and existing home sales data for July.
The yield on the benchmark 10-year Treasuries slumped nearly 1-1/2 basis points to 2.85 percent, the super-long 30-year bond yields plunged close to 2 basis points to 3.01 percent and the yield on the short-term 2-year traded nearly 1 basis point lower at 2.612 percent by 10:45GMT.
Wednesday will also see the first trade talks between the US and China since the former imposed tariffs on USD50 billion of Chinese imports, as a delegation led by China’s Vice Commerce Minister, Wang Shouwen, arrives in Washington DC. (While a portion of the US tariffs on Chinese imports (USD34 billion) became effective early last month, the U.S. will begin collecting tariffs on the balance of USD16 billion on Thursday), Daiwa Capital Markets reported.
Thereafter, the preliminary Markit PMIs for August will be released on Thursday, together with new home sales for July and the FHFA home price index for June. The week will end with the release of the advance durable goods orders report for July.
Most attention on Friday, of course, will be on the Kansas City Fed’s annual Jackson Hole symposium where Fed Chair Powell will deliver his speech on ‘monetary policy in a changing economy’. In the bond markets, the US Treasury will auction 5-year TIPs on Thursday, the report added.
Meanwhile, the S&P 500 Futures remained 0.42 percent higher at 2,837.25 by 10:55GMT, and at 10:00GMT, the FxWirePro's Hourly Dollar Strength Index remained highly bearish at -104.89 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
