South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
The Chinese yuan is expected to range trade at the moment, with the CFETS RMB index consolidating at around 96.0 for now. Chinese Premier Li Keqiang said at a closed-door meeting on 4 March that one-way moves in the yuan exchange rate should be avoided, according to Bloomberg, according to a recent report from Scotiabank.
Moreover, China’s parliament on Sunday passed a constitutional amendment removing presidential term limits, which is beneficial to the stability of the country and the ruling party. The prospect of the ECB tapering will continue bolstering the EUR over the remainder of the year, suggesting a modestly stronger CNY given its tight correlation with the single currency.
Chinese Commerce Minister Zhong Shan said Sunday that China does not want a trade war and will not initiate one. He added any trade war with the US will only bring disaster to the world economy.
"We expect the two giants to negotiate a deal after US President Donald Trump on Thursday afternoon ET signed a pair of proclamations setting new tariffs of 25 percent on steel and 10 percent on aluminum," the report added.
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