The US dollar remains under pressure, extending its decline to an eighth straight session, matching the longest losing streak since April 2011. Still, there are signs the trend could reverse if current gains persist. The greenback is trading firmer against most major and emerging currencies despite stronger economic data from the UK, China, and Australia. Market sentiment remains constructive, supported by rising equity markets and stable risk appetite. Hopes for a two-week extension of the US-Iran ceasefire have added to optimism, even as the ongoing blockade raises concerns about storage capacity constraints and additional pressure on Tehran.

Asia Pacific Markets

Markets across Asia Pacific reflected the positive tone, with Japan’s Nikkei advancing sharply to record highs, following gains in US indices. The dollar strengthened modestly against the yen after testing lower levels earlier in the week, as officials in Japan signaled readiness to act in support of their currency. In China, the offshore yuan weakened slightly after a prolonged rally, while the central bank adjusted its daily reference rate higher for the first time this week. Australia reported steady job growth and stable unemployment, though the currency lost momentum after reaching multi-year highs and retreated modestly.

European Markets

In Europe, the euro held firm within a relatively tight range, approaching key technical levels before encountering selling pressure and easing back. Sterling also showed limited volatility, though it reversed lower after reaching a two-month high earlier in the session, despite stronger-than-expected UK economic growth data. The broader European equity market displayed mixed performance, with the Stoxx 600 continuing its recent pattern of alternating gains and losses. Bond yields across the region edged lower, reflecting a cautious but stable outlook among investors.

American Markets

US markets continued to drive global sentiment, with the S&P 500 and Nasdaq reaching fresh record highs, reinforcing investor confidence. Treasury yields slipped slightly, while commodities traded with a firm tone. Gold remained supported within recent ranges, and silver hovered near key levels. Oil prices stayed elevated, holding above $90, with potential for further upside. On the data front, industrial production is expected to show modest growth, while indicators such as consumer sentiment and small business optimism have softened. Labor market data remains steady, with jobless claims showing limited change.