Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Australia Jobs Growth Strengthens Rate Hike Outlook 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
Asian markets surged Thursday as positive earnings and easing trade tensions boosted risk sentiment. Japan’s Topix index reached a record high, tracking Wall Street’s gains after Alphabet (NASDAQ: GOOGL) beat earnings estimates, sparking optimism for the “Magnificent Seven” tech results driving U.S. markets.
The rally followed a U.S.-Japan trade pact that fueled speculation of more agreements to mitigate tariffs. The United States recently secured trade deals with the Philippines and Indonesia, while a U.S.-EU agreement imposing 15% tariffs on select European imports and exempting others is reportedly nearing completion. Additionally, U.S. and Chinese officials are set to meet in Stockholm next week to discuss trade.
Second-quarter earnings season in the U.S. is underway, with 23% of S&P 500 companies reporting so far; 85% have exceeded Wall Street forecasts, according to LSEG data. Alphabet highlighted soaring demand for its cloud services and announced increased capital spending, while Tesla (NASDAQ: TSLA) reported its steepest sales decline in over a decade, missing profit expectations.
MSCI’s Asia-Pacific index outside Japan rose 0.3%, while Japan’s Topix advanced 1.4%. The Australian dollar, viewed as a risk proxy, climbed to $0.66, its highest level since November 2024. The U.S. dollar slipped 0.1% to 146.38 yen.
Commodities also gained: U.S. crude rose 0.4% to $65.5 per barrel, and spot gold edged up 0.1% to $3,390.84 an ounce. European futures mirrored the bullish sentiment, with Euro Stoxx 50 and German DAX futures up 1.3%, while U.S. S&P 500 and Nasdaq futures added 0.13% and 0.4%, respectively, signaling continued global market momentum.
