Asia-Pacific markets saw limited activity on Friday following a busy Thursday, as the US Independence Day holiday and a quiet global calendar slowed momentum.
The market sentiment remains slightly positive as the US-Vietnam trade deal and easing tensions with China.
Despite Trump’s “Big Beautiful Bill” passing the Senate and moving to the House, the US Dollar struggled to gain momentum after bouncing off its lowest level since February 2022.
The market remains uncertain, as optimism over lower rates clashes with concerns over trade and political instability.
Markets started the week with some optimism, boosted by Canada’s decision to drop a planned digital tax on U.S. tech firms and the absence of tensions in the Middle East.
Thursday didn’t turn into a “Turnaround Day” as markets stayed cautious amid mixed signals on US trade, Iran tensions, and mostly weak US data.
Despite being expected to be a quiet day, Wednesday saw volatile trading driven by several global concerns.
The market remained optimistic on Tuesday after ceasefire announcements about Iran and Israel, easing war concerns.
US President Donald Trump’s call for a “complete and total” ceasefire between Israel and Iran drew mixed market reactions, as missile attacks continued and both nations insisted the other must stop first.
Sunday’s attacks on three Iranian nuclear sites and Tehran’s “it’s our turn” response reignited concerns of a broader Middle East conflict.
Gold fell the most in five weeks and is set for a weekly loss in that time, pressured by a strong dollar and typical late-spring consolidation.
Wednesday was volatile as fears of a US attack on Iran intensified, even though there were signs Tehran might be open to resuming nuclear talks.
Global markets remained volatile early Wednesday as uncertainty over potential US involvement in the Israel-Iran conflict combined with caution ahead of the Federal Reserve’s monetary policy meeting.
