S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
Japan PMI Data Signals Manufacturing Stabilization as Services Continue to Drive Growth 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Asian Technology and Chipmaking Stocks Slide as AI Spending Concerns Shake Markets 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
Asian Stocks Slide as Central Bank Decisions and Key Data Keep Investors Cautious 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
U.S. Dollar Slips Near Two-Month Low as Markets Await Key Jobs Data and Central Bank Decisions 
New Zealand Budget Outlook Shows Prolonged Deficits Despite Economic Recovery Hopes 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
China’s Small Bank Consolidation Struggles as Profits Fall and Risks Persist 
South Korea Extends Bond Market Stabilization Measures Amid Rising Financial Risks 
Most Asian currencies fell on Monday as the U.S. dollar strengthened in the wake of American strikes on three Iranian nuclear facilities, stoking demand for safe-haven assets. The dollar index added roughly 0.3% in early Asian trade, extending last week’s rise after several Federal Reserve officials signaled interest rates may stay higher for longer. Investors now look to Fed Chair Jerome Powell’s testimony before Congress on Tuesday and Wednesday for policy clues.
Safe-haven flows favored the greenback even as traditional refuges such as gold and the Japanese yen weakened. Tehran’s reported threat to block the Strait of Hormuz—a choke-point for nearly a fifth of global crude shipments—fueled a jump in oil prices and heightened inflation worries across energy-dependent Asia.
The Chinese yuan slipped, with the onshore USDCNY pair up 0.1%, while the Singapore dollar’s USDSGD pair advanced 0.2%. South Korea’s won led regional losses, the USDKRW pair climbing 0.7%. India’s rupee also softened, nudging USDINR 0.2% higher.
Positive economic data offered little support. Australia’s AUDUSD fell 0.7% despite June PMIs showing resilient manufacturing and services growth. Japan’s yen lost 0.5% even after surveys revealed the first factory-sector expansion in 11 months and faster service-sector growth.
With geopolitical tensions elevated and U.S. monetary policy still restrictive, traders remain cautious. Any escalation in the Middle East or unexpectedly hawkish remarks from Powell could keep currency volatility high in the days ahead.
