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Eurozone PMI resilience tempers stagflation fears
Eurozone PMIs unexpectedly improved, with the composite at an eight-month high and services returning to expansion, easing immediate stagflation worries.
WTI Rebounds Above $75 After 5% Plunge on Technical and Diplomatic Factors
WTI crude oil recovers to $75.50, up 1.56%, following a technical rebound and diplomatic optimism after a steep 5%+ loss.
Iranian Cyberattacks on US Water Facilities Aimed at Messaging, Not Damage
Cybersecurity experts say the attacks on water and wastewater facilities in seven U.S. states were likely intended to demonstrate Iranian reach, intimidate the public, and shape perceptions rather than cripple infrastructure.
Silver Rises 2.87% to $61.52 per Ounce
Silver prices climbed sharply on Wednesday, with XAG/USD reaching $61.52 per troy ounce, a 2.87% increase from the previous session.
ADP Employment Report Expected to Show Steady Labor Market in July
The ADP Research Institute is set to release its July private-sector jobs data, with expectations pointing to a stable labor market.
WTI Crude Slides Toward $74.50, Bearish Momentum Persists Below 100-Day SMA
West Texas Intermediate crude oil edged lower to near $74.50 on Wednesday, with the bearish outlook intact as long as prices stay beneath the 100-day simple moving average.
Oil and Gold Brace for Key Economic Data This Week
Brent crude and gold prices may see volatility as this week’s U.S. economic data serve as the main near-term catalyst.
RBI Holds Repo Rate Steady at 5.25% in August
The Reserve Bank of India left its key repo rate unchanged at 5.25%, in line with market expectations following the August monetary policy review.
WTI Slips Below $74 as Hormuz Talks Progress
West Texas Intermediate crude declined to around $73.80 per barrel in Asian trading, pressured by easing supply fears amid progress in Strait of Hormuz negotiations and rising US equities.
U.S. Aims for Wednesday Announcement on Strait of Hormuz Interim Deal – Axios
The U.S., Iran, and Oman are finalizing an interim agreement to reopen the Strait of Hormuz, with a potential announcement on Wednesday, Axios reports.
Japan Government Urges BOJ to Pursue Suitable Policy for Stable Inflation
Japan's government expects the Bank of Japan to implement suitable monetary policies to sustainably achieve its inflation target, in coordination with authorities, a senior official said.
Record Share of US Young Adults Living with Parents as Housing Costs Bite
The proportion of 25–34-year-olds residing with their parents in the U.S. has hit an all-time high, according to the Financial Times, driven by soaring housing expenses, student loan burdens, and a softening labor market.
Japan Margin Trading Reaches Highest Since 1990 Amid Risk-On Mood
Leveraged bets in Japan’s equity markets have surged to their highest since 1990, underscoring elevated risk appetite as stocks rally.
More U.S. College Graduates Are Living with Parents, NYT Reports
A growing number of recent U.S. college graduates are staying in their parents' homes, highlighting strains from a weakening entry-level job market and high living costs, according to The New York Times.
Nearly Two-Thirds of US Federal Workers Would Not Choose Public Service Again: Report
A CBS News report reveals that nearly two-thirds of US federal employees say they would not enter public service again, underscoring deeply low morale in government agencies.
U.S. Student Debt Burden Surges Among Seniors, 3 Million+ Owe Loans
More than 3 million Americans aged 62 and older now hold federal student loan debt, up from 1.8 million in 2018, highlighting the persistent burden of education borrowing.
WTI Crude Rebounds to Near $75 Despite Middle East Diplomatic Progress
West Texas Intermediate crude oil recovered to around $75 per barrel during Asian trading after sinking over 5% the previous day. The bounce came despite diplomatic advances in the Middle East.
RBI Expected to Hold Rates Steady Amid Inflation, Middle East Uncertainty
The Reserve Bank of India is widely anticipated to leave its key interest rate unchanged on Wednesday as inflation pressures persist and geopolitical risks cloud the outlook.
Fed’s Schmid Says Tighter Policy Needed to Hit 2% Inflation
Kansas City Fed President Jeff Schmid stated Wednesday that current monetary policy is insufficient to bring inflation back to the 2% target, describing price pressures as 'too high' and 'worrisome'.
BOJ Minutes Show Divide Over Pace of Rate Hikes, Hawkish Tilt Persists
Minutes from the Bank of Japan's latest meeting revealed a split among members over how quickly to raise rates, with some urging steady hikes and one calling for an immediate move toward neutral.
BOJ Minutes Reveal Board Consensus for Further Rate Hikes
Minutes from the Bank of Japan's latest meeting show members agreed it was appropriate to continue raising the policy rate, with one member noting that moving closer to neutral levels would aid long-term economic stability.
BOJ Minutes: Real Rates Exceptionally Low, FX Hurts Smaller Firms
One BOJ board member warned Japan's real interest rate is exceptionally low globally and must be adjusted given upside inflation risks. Another noted that currency weakness is pushing up import costs, hurting smaller companies.
BOJ Minutes Show Members See Risk of Inflation Overshooting 2% Target
The Bank of Japan's June meeting minutes revealed that most policymakers view the economy is broadly on track, but flagged the possibility that underlying inflation could exceed the 2% target.
U.S. Treasury Secretary Bessent: Asian Currencies Track Yen, Confident in BOJ Governor Ueda
U.S. Treasury Secretary Bessent noted that many Asian currencies, including the South Korean won and Chinese yuan, are currently moving in line with the Japanese yen. He also expressed strong confidence in BOJ Governor Ueda's market expertise.