Japan Targets 1%+ Real Economic Growth With ¥370 Trillion Investment Plan 
China Factory PMI Seen Returning to Growth in June as AI Export Demand Supports Economy 
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
China Expands Export Controls, Adds 20 Japanese Companies to Restricted List 
Economic pessimism has set in – but there are reasons for Australians to be hopeful 
US Stock Futures Steady as Investors Await Payrolls Data and Monitor Iran Tensions 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Global Financial Firms Shift Asia Expansion Focus to South Korea as China, India Face Caution 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Gold Price Falls as Fed Rate Hike Fears and U.S.-Iran Tensions Weigh on Bullion 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Dollar Stabilizes, Offering Relief to Global Currencies
The U.S. dollar paused its rally on Wednesday, providing relief to major currencies like the yen, following last week's sharp rise to a seven-week high. Investors are reassessing the U.S. interest rate path amid a relatively light economic data calendar this week.
Kiwi Hits Low After RBNZ Holds Rates
The New Zealand dollar slumped to $0.6096, its lowest since August 19, after the Reserve Bank of New Zealand (RBNZ) opted to keep interest rates unchanged at 5.50%. The Kiwi was last down 0.55%, trading at $0.61035. The RBNZ had previously started an easing cycle in August to reduce rates from 15-year highs.
U.S. Dollar Outlook: Inflation and Earnings Key
Market attention now shifts to Thursday's Consumer Price Index (CPI) report, which is expected to drive the next phase of the dollar's movement. Following stronger-than-expected jobs data last week, markets have scaled back expectations for significant interest rate cuts by the Federal Reserve in November. However, a quarter-point reduction remains a possibility.
Global Currencies Respond
The dollar index remained stable at 102.490, near its recent high of 102.69. The euro held firm at $1.0977, while the British pound traded at $1.3101. Meanwhile, the Australian dollar struggled, down 0.08% at $0.67415.
China's Economic Outlook
In China, despite economic concerns, Beijing expressed confidence in meeting its annual growth targets. However, investors remain cautious as no additional fiscal support measures were announced, leaving the offshore yuan stable at 7.0695 per dollar.
