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Real-time financial news from around the world.
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Gold Steadies After Sharp Drop
Gold steadied around $4,350 an ounce on Friday after falling sharply in the previous session, as investors took profits while assessing the Federal Reserve’s policy outlook and developments in the Middle East. Data released Thursday showed US producer prices increased less than expected in July, offering further evidence that inflationary pressures are not broadly intensifying following Wednesday’s subdued CPI report. The softer price data reduces pressure on the Fed to raise interest rates in the near term, with markets now pricing in around a 35% chance of a 25 basis point rate hike in September, down from 55% a week earlier. Meanwhile, diplomatic efforts to reopen the Strait of Hormuz remain deadlocked, keeping investors cautious over the risk of an escalation that could drive energy prices higher and reignite inflationary pressures.
India
India Passenger Car Sales Jump 31.2% in July
Passenger vehicle sales in India surged 31.2% year-on-year in July 2026, accelerating sharply from an 18.2% rise in the previous month to 395,199 units, according to data from the Society of Indian Automobile Manufacturers (SIAM). The strong performance was attributed to supportive domestic demand, aided by lower Goods and Services Tax rates and the introduction of new models. “India’s auto industry delivered its strongest-ever July sales, with robust double-digit growth across passenger vehicles. This positive momentum, sustained over several months, has continued as the industry enters the festive season with expectations of strong consumer sentiment,” Rajesh Menon, Director General of SIAM, said.
United States
US Futures Flat After Strong Session
US stock futures were little changed on Friday after the major averages advanced in the previous session, with the S&P 500 reaching fresh record highs. In regular trading on Thursday, the S&P 500 and Nasdaq Composite rose 0.65% and 0.81%, respectively, putting both benchmarks on course for their third straight weekly gains. The Dow also climbed 70 points, although it remained set to finish the week lower. Seven of the 11 S&P sectors ended in positive territory, led by communication services, real estate and technology stocks. The gains came after headline and core producer prices rose less than expected in July, reinforcing the previous day’s tame CPI report and easing recent concerns over hawkish signals from FOMC members. Investors now turn their attention to July retail sales data for further clues on the strength of the economy. Meanwhile, no major earnings reports are scheduled for Friday.
Oil Holds Decline Amid Hormuz Stalemate
Crude oil traded near $81 per barrel on Friday after declining in the previous session, as investors adopt a wait-and-see mode while monitoring diplomatic efforts to reopen the Strait of Hormuz. Despite the ongoing impasse, crude continues to flow out of the Persian Gulf, with some tankers sailing with their transponders switched off, although vessels navigating Hormuz remain exposed to persistent threats. The US also claims that as much as 9 million barrels of oil per day is currently transiting the waterway, while the capacity of US forces to escort tankers continues to expand. On the demand side, the IEA cut its global oil demand outlook this week, warning that prolonged conflict and elevated prices are increasingly weighing on consumption. OPEC also lowered its 2026 global oil demand growth forecast to 580,000 barrels per day, marking its fourth consecutive downward revision.
New Zealand
New Zealand Stocks Set to Close Week on Low Note
New Zealand's stocks fell 26 points, or 0.2%, to 13,799 in Friday morning trade, after gaining in the previous session, as manufacturing sector growth eased in July. The latest data showed New Zealand's factory activity grew for the 21st consecutive month, though at a softer rate, as all of the sub-indices expanded at a slower pace. Traders were also cautious ahead of food inflation data and private-sector figures, as well as China's interest rate decision due next week. However, an upbeat session on Wall Street capped the fall overnight amid easing expectations of a Fed interest rate hike at its upcoming meeting. Materials, healthcare, and financials mainly weighed on the index, with the biggest laggards being Westpac Banking Corp. (-0.8%), Fisher & Paykel (-0.7%), ANZ Group (-0.6%), and Chorus (-0.5%). For the week, the index is heading for a 0.1% fall, after rising in the previous week.
Peru
Peru Keeps Rates Steady for 11th Straight Meeting
Peru’s Central Reserve Bank kept its benchmark interest rate unchanged at 4.25% in August 2026, extending its pause for an eleventh consecutive meeting. Annual inflation rose to 4.1% in July from 4.0% in June, while core inflation increased to 4.6% from 4.5%, remaining above the 1–3% target range. However, excluding transportation, core inflation stood at 1.7% and has remained below 2% since April 2025. Twelve-month inflation expectations edged up to 3.0% from 2.8%, reaching the upper limit of the target range. The central bank expects inflation to return toward 2% as supply shocks fade, though a stronger El Niño and renewed Middle East tensions pose upside risks. Meanwhile, economic activity remained strong, with business sentiment improving and expectations firmly in optimistic territory. Global risks have moderated amid more normalized hydrocarbon supplies, although geopolitical and trade uncertainties persist.
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