Trump, Xi Focus on Trade and AI at White House Summit 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Germany’s 2026 Growth Outlook Strengthens on Fiscal Spending 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
US Comfortable With Canada Trade Standoff as Import Bans Loom 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
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Asian stocks eased on Friday, retreating from record highs as investors booked profits ahead of a critical week marked by U.S. President Donald Trump’s tariff deadline and key central bank meetings. The dollar strengthened against the yen after rebounding from a two-week low, supported by firm U.S. economic data, while Japan’s currency weakened amid political uncertainty following reports Prime Minister Shigeru Ishiba may resign.
Japan’s Topix index, which surged over 5% in the previous two sessions to a record high, slipped 0.7%, while the Nikkei fell 0.5% from a one-year high. Hong Kong’s Hang Seng dropped 0.5%, mainland Chinese blue chips slid 0.2%, and Australia’s benchmark declined 0.5%. In contrast, U.S. S&P 500 futures rose 0.2%, buoyed by strong Alphabet earnings, with the Nasdaq also hitting a record close.
Global markets remain cautious ahead of multiple events: Trump’s August 1 trade deadline, the U.S. Federal Reserve policy meeting, key payroll data, and earnings reports from tech giants Amazon, Apple, Meta, and Microsoft. The Bank of Japan will announce its policy on Thursday, coinciding with a key Liberal Democratic Party meeting following Ishiba’s coalition loss in recent elections.
The euro traded near $1.1743, down 0.2% against the dollar, while the U.S. currency advanced 0.3% to 147.37 yen. U.S. 10-year Treasury yields eased to 4.39%, while Japanese government bond yields hovered near 1.6%, their highest since 2008.
Gold prices held steady at $3,368 per ounce, poised for a weekly gain, while Brent crude rose 0.3% to $69.35 and U.S. WTI gained 0.2% to $66.18 per barrel.
