Gold Price Falls as Fed Rate Hike Fears and U.S.-Iran Tensions Weigh on Bullion 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Canada Grants C$7 Million to Greenland Molybdenum Mine to Strengthen Critical Minerals Supply 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Oil Prices Rise as US-Iran Tensions Threaten Strait of Hormuz Oil Shipments 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Asian Stocks Slip as US-Iran Ceasefire Hopes Lift Oil, Dollar Strength Persists 
World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
China Factory PMI Seen Returning to Growth in June as AI Export Demand Supports Economy 
Asian Currencies Stay Range-Bound as Investors Eye China Data, RBNZ Outlook and U.S.-Iran Ceasefire 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
The U.S. dollar surged on Monday, sending the Canadian dollar and Mexican peso to multi-year lows, while the Chinese yuan in offshore trading plummeted to a record low after President Donald Trump imposed sweeping tariffs, escalating trade tensions.
The dollar's gains were widespread, with the euro plunging to a two-year low and the Swiss franc, typically a safe haven, weakening to its lowest since May. Canada and Mexico, the top two U.S. trading partners, swiftly vowed retaliation, while China announced plans to challenge the tariffs at the WTO.
Market analyst Tony Sycamore noted the unexpected retaliatory measures by Canada and Mexico, with potential responses from China and the EU adding to concerns of a sharp contraction in global trade. The implementation of U.S. tariffs on February 4, earlier than expected, intensified market uncertainty.
As promised, the U.S. levied 25% duties on Canadian and Mexican imports and a 10% tariff on Chinese goods, citing economic security concerns. The move shook investor confidence, with Bank of Singapore's chief economist Mansoor Mohi-uddin warning of potential long-term economic consequences.
The U.S. dollar climbed 0.7% to 7.2552 yuan offshore, earlier touching a record high of 7.3765. It rose 2.7% to 21.40 pesos, a high not seen since 2022, and 1.4% to C$1.4755, its strongest level since 2003. The euro fell 2.3% to $1.0125 before recovering slightly.
The Federal Reserve’s expected rate cuts were also reevaluated, with traders reducing projections by 6 basis points. Bitcoin fell 4.4% to $97,622, while Ether plunged 15% to $2,812.
With markets bracing for further trade disruptions, analysts warn of stagflation risks, characterized by weak growth and rising inflation.
