Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
U.S. markets were rattled Friday as sharp downward revisions to prior jobs data and President Donald Trump’s sudden firing of the Bureau of Labor Statistics (BLS) chief fueled fears over economic data reliability and Federal Reserve policy.
The July employment report showed nonfarm payrolls rising by just 73,000, well below forecasts of 110,000. June’s figure was slashed from 147,000 to 14,000, and May’s was revised from 144,000 to 19,000 — a combined downward revision of 258,000 jobs. Economists warned such significant adjustments suggest the Fed may have misread the labor market and could accelerate rate cuts to stabilize growth.
Trump, alleging the data was “rigged” to damage Republicans, ordered BLS Commissioner Erika McEntarfer’s dismissal, a move analysts say risks undermining trust in future economic reports. The turmoil coincided with the resignation of Fed Governor Adriana Kugler, giving Trump an opportunity to reshape the Federal Open Market Committee amid already strained relations.
Markets swiftly priced in easing: CME data showed the probability of a September rate cut jumping to 81% from 38% the day before. Treasury yields plunged, with the 10-year falling 15 basis points to 4.22%, its steepest drop since April, while the S&P 500 slid 1.6% to its lowest level since early July.
Investors remain concerned about the dual drag of weakening employment and Trump’s tariffs, which could worsen inflation and stall growth. Analysts warn job creation is nearing “stall speed,” raising fears of a potential recession.
The Fed, led by Chair Jerome Powell, faces heightened pressure to navigate policy amid unreliable data, shifting trade policies, and mounting market anxiety.
