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China Spends Millions on Buddhism to Expand Asian Influence, Worrying US
China is investing millions of dollars in Buddhism to strengthen its cultural influence across Asia, challenging India's traditional ties to the religion and raising concerns in Washington ahead of the Dalai Lama's succession.
Gold Slips to $4,175 as Sellers Target $4,100 on US Holiday
Gold trades lower at $4,175 amid thin US holiday volumes, with sellers pushing to test the $4,100 support level after rejection near $4,187.
Gold rallies as weak US jobs data dims rate-hike fears
Gold prices rose after weaker-than-expected US jobs data reduced expectations of further Federal Reserve rate hikes, boosting demand for the safe-haven asset.
Oil Set for Fourth Weekly Decline as Hormuz Flows Rebound
Oil prices are under pressure and on track for a fourth straight weekly drop as increased flows through the Strait of Hormuz weigh on the market. ICE Brent crude continues to edge lower.
China's Open AI Model Shocks Silicon Valley Valuations
The release of China's GLM 5.2 model is seen as a threat to the high valuations of US AI companies, a risk that was flagged earlier this year.
Gold Needs Weekly Close Above $4,165 to Sustain Recovery
Gold is trading near eight-day highs just below $4,200 in Asian trade on Friday, on track to end a four-week losing streak. Analysts say a weekly close above $4,165 is needed to maintain the recovery.
Silver Sequence Maintains Downside, Elliott Wave Analysis Shows
Silver's incomplete Elliott Wave sequence from the January 29, 2026 high indicates further downside potential. The short-term cycle from the May 14, 2026 high is unfolding as a double three pattern.
China Services PMI Eases to 54.1 in June
China's Services PMI declined to 54.1 in June from 54.4 in May, according to RatingDog data, signaling a slight slowdown in service sector expansion.
Foreign Investors Dump ¥3.12 Trillion of Japanese Bonds in June
Foreign investors sold ¥3.12 trillion ($19.2 billion) of Japanese government bonds in June, the largest monthly outflow since January 2023, intensifying pressure on bond yields.
WTI Stays Below $68.50 as Middle East Tensions Ease
WTI crude oil traded around $68.40 during Asian hours on Friday, edging lower after a modest gain the previous day, as easing geopolitical tensions in the Middle East weighed on prices.
Crude Steady Near $68 as Hormuz Traffic Normalizes
Oil prices hold around $68/barrel as tanker flows through the Strait of Hormuz recover and US-Iran talks continue. Saudi exports return to ~90% of pre-war levels, while Brent's prompt spread briefly flipped into contango, signaling oversupply concerns.
Suncorp Group Expects Higher FY27 Reinsurance Costs, Affirms Catastrophe Cover Details
Suncorp Group forecasts FY27 reinsurance costs above FY26 levels, maintains a A$350M event retention and caps natural hazard costs at A$1.85B in about 90% of scenarios. FY26 investment income is seen at A$750M–A$800M, with natural hazard costs A$250M above allowance. CEO Steve Johnston returns July 6.
PJM Declares Emergency Maximum, Orders Offline Generation to Ramp Up
PJM Interconnection has declared an Emergency Maximum, directing all offline generation to start immediately and ramp to full output to support the U.S. electric grid. The operator also urges member dispatchers to consider public appeals for electricity conservation and notify relevant government agencies.
Leveraged ETF Daily Rebalancing Hits Record $50B, Amplifying Volatility
Daily rebalancing activity in US equity leveraged ETFs has reached a record $50 billion, quadrupling since early 2026 and accounting for 1.6% of S&P 500 futures volume, potentially amplifying market moves in both directions.
Poland Scraps MiG-29 Transfer to Ukraine After Drone Tech Swap Collapses
Poland will not transfer its remaining MiG-29 fighter jets to Ukraine after a planned exchange for Ukrainian drone technology fell through, sources say. The aging aircraft will be gradually retired.
US Feared Israel Would Assassinate Iran's Top Negotiators During Talks – NYT
The New York Times reports that US officials feared Israel might assassinate Iran's foreign minister and parliament speaker during sensitive peace talks this spring. Washington asked regional nations to warn Iran, which then deployed military escorts and altered travel plans.
Turkey's Foreign Minister: Israel Seeking New Enemy, Turkey Will Not Retreat
Turkish Foreign Minister Fidan stated that Israel is searching for a new enemy and that Turkey will not hesitate or retreat from confrontation if Israeli actions conflict with Turkish national and regional interests.
Turkish FM: Global Anti-Israel Sentiment Surging as Massacres Visible
Turkish Foreign Minister Hakan Fidan said there is a dramatic surge in global anti-Israel sentiment, from university campuses to media, as Israel's massacres and destabilizing actions are now fully visible and past media efforts to conceal them are no longer effective.
Turkey's Fidan: US Politicians Support Israel Only for Self-Interest
Turkish Foreign Minister Hakan Fidan said US politicians back Israel only when it serves their own interests, adding that for the first time since the Gaza genocide, analyses show the existing system works against US interests. He also noted a dramatic surge in anti-Israel sentiment globally.
Turkey's Fidan: Israel destabilizing by near-unanimous international assessment
Turkish Foreign Minister Hakan Fidan said that by near-unanimous international assessment, Israel is a destabilizing force, governed by a reckless clique that has brought instability, oppression, bloodshed and massacres wherever it has acted.
Turkey, US Committed to Lifting CAATSA Sanctions: FM Fidan
Turkish Foreign Minister Hakan Fidan said both President Erdogan and former President Trump are strongly committed to lifting CAATSA sanctions. The leaders publicly expressed their positions last September and instructed ministers to resolve the matter.
Turkey's Fidan Slams US Arms Sale Denial as 'Irrational'
Turkish Foreign Minister Hakan Fidan criticized the Trump administration for denying weapons sales to Turkey while supplying vast amounts of arms to non-NATO countries with less strategic alignment.
Cuban President Condemns 60-Year US Blockade in Sky News Interview
Cuban President Miguel Diaz-Canel told Sky News the 60-year US blockade is the longest in human history, urging the US to lift sanctions and allow Cuba self-determination.
Cuba Denies Chinese Bases, Challenges US to Prove Claims
Cuban President Miguel Díaz-Canel denied the existence of Chinese military bases in Cuba, calling the allegations manipulative lies, and challenged the US to identify their locations.