U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Core consumer inflation in Tokyo remained well above the Bank of Japan’s (BOJ) 2% target in July, reinforcing expectations that another interest rate hike could come later this year. Government data released Friday showed Tokyo’s core consumer price index (CPI), excluding fresh food, rose 2.9% year-on-year, slightly below market forecasts of 3.0% and easing from June’s 3.1% increase.
A key gauge closely tracked by the BOJ — stripping out both fresh food and energy costs — climbed 3.1% in July, unchanged from the previous month, signaling persistent domestic price pressures.
The figures will weigh heavily on the BOJ’s upcoming July 30–31 policy meeting, where the central bank is expected to revise its inflation forecasts upward in a quarterly outlook. The BOJ ended its decade-long ultra-loose monetary policy last year, lifting short-term interest rates to 0.5% in January, citing sustainable progress toward its 2% inflation goal.
Market sentiment shifted further after U.S. President Donald Trump announced a trade deal with Japan on Wednesday, easing economic uncertainties that previously forced the BOJ to cut growth projections in May. Hours after the announcement, BOJ Deputy Governor Shinichi Uchida said the agreement reduces risks and strengthens the likelihood of achieving stable inflation.
A recent Reuters poll conducted before the trade deal showed most economists expect another rate hike by year-end, though few foresee a move at the upcoming meeting. Persistent price growth, combined with improving trade conditions, may bolster the case for the BOJ to tighten policy sooner than anticipated.
Japan’s inflation trajectory and BOJ’s response will remain closely watched by global markets seeking clues on the timing of future monetary tightening.
