Gold held near $3,380 as investor caution around the August 1 U.S. tariff deadline supported safe-haven demand, though strong U.S. data capped gains by dampening immediate rate cut bets. Silver, meanwhile, traded above $38.3, outperforming gold due to its dual role in safe-haven positioning and industrial demand, bolstered by rising inflation expectations.

WTI crude oil fell to around $65.4, extending its losing streak to three days amid ongoing concerns over global demand and trade disruptions. Brent crude dropped to $68.6 as investors remained focused on the upcoming U.S.-EU tariff deadline and potential geopolitical shifts, including Iran’s return to nuclear talks.

The euro remained above 1.16, with markets awaiting the ECB’s policy meeting where no rate change is expected but growing tariff risks weigh on sentiment. The yen held steady near 147.5 as post-election stability in Japan helped offset concerns over potential stimulus measures. The offshore yuan hovered around 7.17, supported by stable PBOC policy and optimism around a new stablecoin rollout.

U.S. 10-year yields steadied near 4.37%, marking four consecutive days of declines as traders awaited Powell’s remarks for policy direction. Japan’s 10-year yield eased to 1.51%, helped by political calm and modest inflation data, while China’s 10-year yield held at 1.68%, supported by strong bond ETF demand and persistent growth concerns.

The US 100 Tech Index edged up to 23,202, reflecting continued strength in tech, though forward-looking estimates suggest a slowdown by year-end. Bitcoin dipped slightly to $117,365, holding most of its yearly gains but facing downside projections toward $111,000 in the coming quarter.

Check out today's analysis for more insights.