Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 
Pessimist and doubters of global growth will feel sigh of relief today as US economy turned out to be stronger than everyone is expecting.
- Preliminary reading shows that US economy grew 2.1% in the second quarter, beating both analysts' expectation and prior rate of 2%. GDP grew at annual rate of 3.7%.
- Moreover growth was broad based. The increase in real GDP in the second quarter reflected positive contributions from personal consumption expenditures (PCE), exports, state and local government spending, nonresidential fixed investment, residential fixed investment, and private inventory investment.
- Imports however, remains drag on the economy.
US growth will be beneficial for global economy, at a time when Chinese economy is slowing down.
Encouraging is, in spite of low energy price and economic slowdown at the beginning of second quarter, Personal consumption Expenditure prices remains steady.
- Preliminary reading showed, that PCE prices for core remained at same 1.8% level, while growth was 2.2% overall.
Dollar has gained after the release. Dollar index is currently trading at 95.44, up 0.17% for the day.
