Asian equity markets fell and oil prices jumped on Monday after Iran claimed to have closed the Strait of Hormuz, escalating geopolitical tensions and renewing global inflation concerns.
The U.S. dollar gained on Tuesday as its safe-haven appeal increased following reports of attacks on oil tankers in the Strait of Hormuz and a subsequent U.S. move to revoke an Iranian oil license. The geopolitical flare-up sent oil prices sharply higher and shifted market focus away from central bank policy.
The U.S. dollar ended Wednesday lower after minutes from the Federal Reserve's June meeting suggested a more divided and cautious outlook on future rate hikes, offsetting an earlier rally driven by escalating military tensions between the U.S. and Iran.
Government bond yields in the U.S. and Europe remained elevated as an escalation in Middle East tensions triggered a spike in crude oil prices, forcing investors to price in higher inflation.
The Canadian dollar strengthened to its highest level in three weeks against the U.S. dollar after June employment data significantly beat analyst expectations, signaling underlying economic resilience.
The crypto derivatives exchange and trading software firm have unveiled 'The Island,' a 35-day event with a prize pool of up to $600,000 USDC, designed to boost trading volume in options and futures.
The leading cryptocurrency fell amid a risk-off mood in global markets, driven by U.S. retaliatory strikes against Iran and weakness in tech stocks. Despite the downturn, U.S. spot Bitcoin ETFs continued to see significant net inflows.
A Morgan Stanley analysis of over 17,000 corporate earnings calls shows a growing number of U.S. firms are reporting quantifiable financial benefits from AI, easing investor concerns about the technology's return on investment.
China has suspended helium exports to safeguard its domestic supply amid rising Middle East tensions, a move that could tighten the global market for the gas essential to semiconductor manufacturing.
