New Zealand dairy cooperative Fonterra has narrowed its 2026/27 farmgate milk price forecast, cutting the upper limit due to weakening global demand and robust international supply.
The International Energy Agency forecasts a 1 million barrel-per-day decline in global oil demand this year, the first annual drop since the COVID-19 pandemic, citing disruptions from the Middle East conflict.
South Korea has initiated round-the-clock trading for its currency against the U.S. dollar, a major foreign exchange reform aimed at improving access for global investors and strengthening its case for an MSCI index upgrade.
Italy's Treasury has mandated a syndicate of banks for an upcoming sale of U.S. dollar-denominated sovereign bonds with maturities in 2031, 2036, and 2056, signaling a move to tap into international capital markets.
Taiwan's central bank sold foreign currency in June to intervene in the market, causing its foreign exchange reserves to fall to $597.15 billion amid a strengthening U.S. dollar.
The Japanese yen resumed its slide against the dollar and other major currencies, as traders grew more confident in pushing the currency lower after Japanese authorities refrained from intervention.
The Japanese yen slid to the weaker side of 162 per dollar, approaching multi-decade lows as the absence of official intervention emboldens traders to push the currency lower.
The South African rand strengthened against the U.S. dollar on Thursday, as a significant rise in gold prices overshadowed a larger-than-expected contraction in domestic manufacturing output.
The South African rand was little changed against the U.S. dollar as currency markets adopted a cautious stance ahead of the release of the Federal Reserve's latest policy meeting minutes.
