Dollar Holds Near Two-Month High as Yen Approaches 160 
China Agrees to Buy 20 Million Tons of U.S. Coal 
Germany’s 2026 Growth Outlook Strengthens on Fiscal Spending 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
US Comfortable With Canada Trade Standoff as Import Bans Loom 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
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Asian stocks ticked up on Thursday, lifted by optimism over Nvidia’s (NASDAQ:NVDA) brief surge to a $4 trillion market cap and expectations of U.S. interest rate cuts later this year. The MSCI Asia-Pacific index (excluding Japan) rose 0.2%, as investors shrugged off U.S. President Donald Trump’s latest tariff threats targeting copper imports and several countries, including Brazil and Japan.
Despite Trump's announcement of a 50% copper tariff starting August 1 and a similar threat against Brazil, market reaction was muted. Japan’s Nikkei slipped 0.56%, while China’s CSI300 gained 0.2% and Hong Kong’s Hang Seng edged up 0.1%. U.S. futures dipped slightly in Asian trade, with S&P 500 and Nasdaq futures down 0.2%.
Nvidia's valuation milestone reinforced strong investor sentiment toward AI stocks. Meanwhile, Fed minutes released Wednesday showed most policymakers anticipate rate cuts later this year, suggesting any inflation shock from tariffs will likely be temporary. This buoyed risk appetite as investors bet on looser monetary policy.
The U.S. dollar weakened against major currencies, falling 0.4% versus the yen to 145.79, while the euro rose to $1.1742 and the pound to $1.3605. The Brazilian real neared a one-month low at 5.5826 per dollar following tariff threats.
Bitcoin hovered near its all-time high at $111,234.63, with ether up 1.3% to $2,775.54. OKX Singapore’s CEO noted investors are focusing on digital assets with real-world utility, with Bitcoin remaining the top choice.
In commodities, Brent crude dipped 0.16% to $70.08, U.S. crude fell 0.22% to $68.23, and spot gold rose 0.3% to $3,322.69, reflecting cautious optimism across global markets.
