Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
China Agrees to Buy 20 Million Tons of U.S. Coal 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Trump, Xi Focus on Trade and AI at White House Summit 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
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The US dollar hovered near a three-week high against major currencies on Tuesday as markets awaited key inflation data that could influence Federal Reserve policy. Support for the greenback came from rising Treasury yields and speculation over Fed Chair Jerome Powell’s future, following renewed criticism from President Donald Trump.
The dollar index stood at 98.104, just below Monday’s peak of 98.136, its strongest since June 25. It traded at 147.75 yen, near its recent high of 147.78. The euro remained steady at $1.1662 after slipping to a low of $1.1650.
Markets are focused on upcoming US inflation figures, with headline inflation expected to rise to 2.7% year-on-year from 2.4%, and core inflation to 3.0% from 2.8%, according to a Reuters poll. Fed Chair Powell previously suggested summer inflation may increase due to tariffs, reinforcing expectations that rate cuts may be delayed until later this year.
However, should inflation remain flat or weaken, calls for monetary easing could grow. Trump on Monday intensified his attacks on Powell, suggesting rates should be slashed to 1% or below from the current 4.25%–4.50%. Futures markets are pricing in 50 basis points in cuts by year-end, with the first move likely in September.
Bitcoin hit a new all-time high of $123,153.22 on Monday and was trading at $120,067, amid optimism over favorable crypto legislation this week.
Meanwhile, the Australian dollar dipped to $0.6542 as investors awaited China’s Q2 GDP report. Analysts expect growth to slow to 5.1% from 5.4% amid trade pressures and a weakening property market. Disappointing data could weigh further on the Aussie, given China’s role as Australia’s top trading partner.
