US Stock Futures Slide as Iran Conflict Escalates Ahead of Key Q2 Earnings Week 
Gold Prices Fall as US-Iran Conflict, Rising Oil Prices Fuel Fed Rate Concerns 
South Korea’s KOSPI Triggers Trading Curb as AI Chip Stock Selloff Deepens 
US-Iran Strikes Escalate as Strait of Hormuz Crisis Pushes Oil Prices Higher 
Gordie Howe Bridge to Open July 27 After U.S.-Canada Reach Toll Revenue Agreement 
Asian Currencies Weaken as Stronger Dollar Weighs, Yen Supported by GPIF Repatriation Hopes 
Japanese Yen Rises as Pension Fund Plan and BOJ Rate Hike Bets Weigh on Dollar 
Dollar Slips as Oil Prices Ease, Fed Rate Outlook Remains Uncertain 
Gold Prices Set for Weekly Loss as Iran Tensions and Fed Rate Outlook Weigh 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
European Stocks Slip as Middle East Tensions and Hormuz Threat Rattle Markets 
BOJ May Raise Japan Growth Forecast While Keeping Focus on Inflation Risks 
US Stock Futures Steady as Oil Prices Ease, Iran Talks Boost Market Sentiment 
The U.S. Treasuries surged on global demand for safe-haven instruments and as investors await the Federal Open Market Committee (FOMC) members Dudley, Evans and Kashkari’s speech, scheduled to be held today by 12:30GMT, 16:40GMT and 22:30GMT respectively.
The yield on the benchmark 10-year Treasury fell 1-1/2 basis points to 2.24 percent, the super-long 30-year bond yields also suffered by 1-1/2 basis points to 2.79 percent and the yield on short-term 2-year note traded flat at 1.44 percent by 12:25GMT.
Angela Merkel won a fourth term as German chancellor in Sunday’s federal election, in line with expectations. Yet, Angela Markel’s CDU/CSU alliance secured just 33% of the vote, the second-lowest since 1948 and below c. 36% recent opinion polls suggested. The SDP took 20.5% , its worst performance ever with Martin Schultz announcing that his party will go into opposition, presumably in an attempt to rebuild its credibility.
The so-called ‘Jamaica’ coalition seems to be the most likely scenario consisting of CDU/CSU, FDP and the Greens. In reaction to the German election outcome, the EUR came under some pressure and EMU sovereign debt spreads undertook some widening on the view that the FDP, a potential coalition partner in the new German government, is firmly against any further EU integration. Looking at this week’s calendar, focus is on a numerous Fed and ECB speakers including ECB President Mario Draghi on Monday and Fed Chair Janet Yellen on Tuesday. On the data front, inflation data from the euro area and the US both on Friday, lure market attention.
Meanwhile, the S&P 500 Futures traded 0.06 percent lower at 2,498.12 by 12:30GMT, while at 12:00GMT, the FxWirePro's Hourly Dollar Strength Index remained slightly bullish at 95.86 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
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