Taiwan Urges Stronger Trade Ties With Fellow Democracies, Rejects Economic Dependence on China 
Japan Finance Minister Defends PM Takaichi’s Remarks on Weak Yen Benefits 
Oil Prices Steady as Markets Weigh U.S.-Iran Talks, Dollar Strength Caps Gains 
Oil Prices Slide Nearly 3% as U.S.-Iran Talks Ease Geopolitical Tensions 
Indian Rupee Strengthens Sharply After U.S.-India Trade Deal Announcement 
JPMorgan Lifts Gold Price Forecast to $6,300 by End-2026 on Strong Central Bank and Investor Demand 
Philippines Manufacturing PMI Hits Nine-Month High Despite Weak Confidence Outlook 
IMF Forecasts Global Inflation Decline as Growth Remains Resilient 
South Korea Inflation Hits Five-Month Low as CPI Reaches Central Bank Target 
RBA Raises Interest Rates by 25 Basis Points as Inflation Pressures Persist 
Gold, Silver, and Platinum Rally as Precious Metals Recover from Sharp Selloff 
Starmer’s China Visit Highlights Western Balancing Act Amid U.S.-China Rivalry 
U.S. Stock Futures Slip as Markets Brace for Big Tech Earnings and Key Data 
S&P 500 Rises as AI Stocks and Small Caps Rally on Strong Earnings Outlook 
U.S. Stock Futures Rise as Investors Eye Big Tech Earnings and AI Momentum 
Asian currencies traded mostly flat to lower on Friday as stronger-than-expected U.S. nonfarm payrolls data dampened hopes for near-term interest rate cuts, offering support to the U.S. dollar. The greenback trimmed its weekly losses after a strong labor report boosted confidence in the resilience of the U.S. economy, prompting markets to reassess the timing of Federal Reserve rate cuts.
The dollar index slipped 0.1% in Asia but remained firm after overnight gains. CME FedWatch data showed the probability of no rate cut in September rising sharply to 32%, although markets still priced in a 63.8% chance of a 25 basis point cut.
The Japanese yen weakened, with USDJPY up 0.3% despite strong May household spending data suggesting persistent inflationary pressure. The Australian dollar edged lower after weak trade figures, while traders braced for a possible rate cut by the Reserve Bank of Australia next week. The Singapore dollar held steady, while South Korea’s won slipped 0.1%.
China’s yuan remained muted, despite Beijing unveiling new stimulus measures and noting progress in U.S.-China trade relations after Washington eased chip export controls. Meanwhile, Taiwan’s dollar strengthened to its highest in over three years, supported by optimism around semiconductor exports amid improving U.S.-China ties.
The Indian rupee was largely unchanged. Regional sentiment remained fragile ahead of a July 9 deadline when U.S. President Donald Trump is expected to impose steep tariffs on major economies. Trump signaled he may start notifying countries of tariff rates as early as Friday.
Markets remain cautious over the potential global impact of Trump’s sweeping tax and spending bill, which could add $3.3 trillion to U.S. debt over the next decade, raising fiscal sustainability concerns amid growing trade tensions.
