Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Oil Prices Surge as U.S.-Iran Diplomacy Hopes Fade 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Wall Street Falls as Treasury Yields Surge, Oil Rebounds on Iran Tensions 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
U.S. 10-Year Treasury Yield Hits 2007 High as Fed Rate Hike Bets Rise 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
US, China Extend Trade Truce to Jan. 10 Ahead of Trump-Xi Summit 
Japan Private-Sector Growth Slows as Domestic Demand Weakens 
China’s ‘Lipstick King’ Says AI Won’t Replace Livestream Hosts 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
Oil Prices Ease as Iran Tensions Clash With Diplomacy Hopes 
Trump, Xi Focus on Trade and AI at White House Summit 
South Korea, US Discuss Warship Building Cooperation 
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Asian currencies broadly declined on Monday as the U.S. dollar attracted safe-haven demand following the collapse of U.S.-Iran peace negotiations and mounting concerns over a potential American blockade of Iranian ports. The breakdown in diplomatic efforts renewed fears of escalating conflict in the Middle East, rattling regional forex markets already under pressure from elevated U.S. inflation data.
Most major Asian currencies posted losses against the greenback. The Japanese yen, Chinese yuan, Australian dollar, South Korean won, Singapore dollar, and Indian rupee all weakened, with the rupee facing particularly sharp pressure due to India's heavy dependence on energy imports. A potential Hormuz blockade threatens to deepen that vulnerability, especially after the Iran conflict already disrupted roughly 20% of global energy supplies.
The dollar index and dollar index futures each climbed approximately 0.4%, buoyed both by geopolitical uncertainty and last Friday's U.S. consumer price index report, which revealed a significant inflation spike driven largely by surging energy costs. The data reinforced expectations that the Federal Reserve will hold interest rates steady for an extended period, further boosting the dollar's appeal. Producer price index figures for March are scheduled for release on Tuesday.
Brief optimism surrounding potential ceasefire talks last week provided temporary relief to Asian currencies, but that sentiment has since reversed. President Donald Trump ordered a blockade of the Strait of Hormuz following the weekend's failed negotiations, though U.S. Central Command later clarified the measure would primarily target Iranian vessels and infrastructure. As of Monday, a fragile ceasefire remained in place with no reported military strikes.
Investor focus this week shifts to key economic releases from both the United States and China, including Chinese trade figures and first-quarter GDP data, Indian inflation numbers, Singaporean GDP, South Korean trade statistics, and Australian employment data. Markets will closely monitor these reports for signs of economic disruption tied to the ongoing conflict.
