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The Asian session is unfolding calmly, with no major data releases and narrow trading ranges in both currency and equity markets. Movements in stock indices are limited to +/-0.50%.
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U.S. Commerce Secretary Lutnick suggested that a 90-day extension of the tariff truce with China is highly likely. Talks began Monday in Stockholm and are expected to continue Tuesday.
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Trump blocked a transit stopover in New York by Taiwan’s president to avoid antagonizing China — signaling a desire to maintain diplomatic balance with Beijing.
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Nvidia has ordered 300,000 H20 chips from TSMC to meet strong demand from China. However, the U.S. Commerce Department has not yet approved the necessary export licenses.
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A former Bank of Japan policymaker said further rate hikes are needed to align inflation forecasts with economic realities. Rising food prices could push inflation expectations above the BoJ’s target.
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The U.S. Treasury Department announced it will borrow $1.007 trillion in Q3 — significantly more than the $554 billion forecast in April. The extended debt ceiling allows for greater issuance, particularly of Treasury bills.
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Fidelity International forecasts that gold prices could rise to $4,000 per ounce by the end of 2026, supported by Fed policy easing, a weaker dollar, and strong central bank demand.
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Morgan Stanley predicts the US500 index will rise to 7,200 points, driven by improved margins and profit growth. Key drivers include AI adoption, a weaker dollar, and tax benefits from Trump’s “One Big Beautiful Bill” plan.
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Trump has shortened his Ukraine peace ultimatum from 50 to 12 days, expressing frustration over the lack of progress. Along with UK Prime Minister Starmer, he reiterated threats of 100% tariffs and secondary sanctions, targeting countries still trading with Russia — including China and India.
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Ray Dalio suggested that long-term portfolios should include 15% exposure to gold or Bitcoin. While he prefers gold, he supports both assets as hedges against currency devaluation and fiscal instability.
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