Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
China Agrees to Buy 20 Million Tons of U.S. Coal 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Trump, Xi Focus on Trade and AI at White House Summit 
Dollar Holds Near Two-Month High as Yen Approaches 160 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
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Asian equities retreated on Thursday following disappointing Chinese economic data and a sharp drop in copper prices, while investors assessed a new trade deal between South Korea and the U.S. The dollar hovered near a two‑month high after the Federal Reserve kept interest rates unchanged and major U.S. tech firms posted strong earnings.
Nasdaq futures surged 1.2% and S&P 500 futures rose 0.8% after Microsoft and Meta reported stronger‑than‑expected revenue, driven by cloud computing and AI‑powered advertising. MSCI’s Asia‑Pacific index excluding Japan fell 0.7% but remained on track for a fourth straight monthly gain.
Chinese and Hong Kong stocks led losses as July PMI figures signaled slowing factory activity. Traders are now awaiting the Bank of Japan’s policy decision for clues on potential rate hikes. The Fed’s 9‑2 vote to hold rates steady marked the fifth consecutive meeting without a change, though Chair Jerome Powell’s comments dampened expectations for September cuts.
The dollar index stood at 98.81, close to Wednesday’s peak of 99.98, with a projected 3.1% monthly gain — its first rise in 2025. U.S. GDP beat forecasts in Q2 but showed underlying weakness amid trade policy uncertainty.
The Korean won firmed 0.3% after President Trump announced a 15% tariff on South Korean imports, paired with Seoul’s $350 billion U.S. investment pledge. Copper futures tumbled 19.4% after the U.S. confirmed a 50% tariff on pipes and wiring.
Oil prices extended gains for a fourth session, supported by supply concerns and ongoing geopolitical tensions. Brent crude traded at $73.48 a barrel, while WTI stood at $70.15.
Global markets remain volatile as investors navigate mixed economic signals, shifting trade policies, and central bank strategies.
