Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Asian Technology and Chipmaking Stocks Slide as AI Spending Concerns Shake Markets 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
The U.S. dollar slipped on Thursday amid renewed expectations of Federal Reserve rate cuts and signs that President Donald Trump may take a softer approach on tariffs. Trump said he was open to extending the July 8 deadline for completing trade negotiations, while Treasury Secretary Scott Bessent hinted that extensions could be granted to nations negotiating in good faith.
This dovish shift weighed on the dollar, pushing the euro to a seven-week high of $1.1525. The dollar also fell 0.43% against the yen to 143.98 and dropped 0.34% against the Swiss franc to 0.81725. Against a basket of major currencies, the greenback declined to 98.327, its lowest level since April 22.
Markets were further influenced by weaker-than-expected U.S. inflation data, which boosted expectations of a Fed rate cut as early as September. Investors are now eyeing Thursday’s producer price index for additional clues on inflation.
Meanwhile, sterling rose 0.38% to $1.3588, the Australian dollar edged up 0.05% to $0.6506, and the New Zealand dollar climbed 0.1% to $0.6033. The offshore yuan strengthened slightly to 7.1953 after the U.S. and China reached a tentative trade truce following talks in London, though details remain unclear.
The euro gained broadly, rising to 165.88 yen after touching 166.42, its highest since October. It also hit a one-month high of 84.88 pence and extended gains against the Aussie. Analysts credit the euro’s strength to the European Central Bank’s recent signals that it may pause its rate-cutting cycle after hitting the 2% inflation target, contrasting with potential Fed easing ahead.
The euro has climbed nearly 11% year-to-date, buoyed by capital inflows into European markets and dollar weakness.
