S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
U.S. Dollar Reaches One-Year High as Tech Sell-Off and Fed Rate Hike Expectations Support Demand 
Oil prices were largely unchanged in Asian trading on Wednesday after posting sharp losses in the previous session, as progress in U.S.-Iran nuclear negotiations eased concerns about potential supply disruptions. The latest developments reduced geopolitical risk premiums that had supported crude markets earlier this week.
Brent crude futures for April delivery edged up 0.1% to $67.51 per barrel, while West Texas Intermediate (WTI) crude futures gained 0.1% to $62.40 per barrel. Despite the modest rebound, both benchmarks remained under pressure after Brent dropped nearly 2% and WTI fell 1% on Tuesday.
Market sentiment shifted following reports that Washington and Tehran reached an understanding on key “guiding principles” during ongoing nuclear talks. Although Iranian Foreign Minister Abbas Araqchi clarified that a final agreement is not imminent, the signs of progress raised expectations that Iranian oil exports could eventually return more fully to global markets. Iran remains a significant oil producer, and any easing of sanctions could increase global crude supply, influencing Brent and WTI prices.
Energy traders are closely monitoring developments due to Iran’s strategic position near the Strait of Hormuz, a critical transit route handling roughly 20% of the world’s daily oil consumption. Reduced geopolitical tensions in this region typically weigh on oil prices by lowering supply risk concerns.
Trading volumes in Asia were relatively thin due to Lunar New Year holidays across several regional markets, contributing to limited price movement.
Investors are also awaiting key U.S. oil inventory data. The American Petroleum Institute (API) is set to release its weekly crude stock estimates, followed by official figures from the Energy Information Administration (EIA). These reports will offer insights into U.S. supply trends and short-term price direction.
Additionally, markets are watching the Federal Reserve’s January meeting minutes and the upcoming U.S. Personal Consumption Expenditures (PCE) inflation report for signals on interest rates and future fuel demand.
