Global Markets Edge Higher Ahead of "Inflation Day": Focus on Core Goods Prices, Dollar Stable, US Treasury Yields Rise

Tuesday will see the release of July's inflation data in the US, with markets closely watching whether core goods prices have risen faster than June to gauge the outlook for a potential rate cut by the Federal Reserve in September (currently expected to be around 2.8% compared to last year). On the trading floor, US stock futures have stabilized; as for spot transactions, Monday's US stocks closed lower but Intel surged 4% after CEO Lip-Bu Tan visited the White House. Trump has stated that he will not impose a tariff on imported gold, and the price of gold dropped slightly before stabilizing. Trump is also set to nominate E.J. Antoni to head the Bureau of Labor Statistics (BLS).

Main market trends: Japan cooled down due to concerns over US tariffs and strong demand for AI infrastructure, with the Nikkei 225 closing at a record high and SoftBank rising by 6.9%. The Stoxx 600 in Europe rose by 0.4%, while the FTSE 100 in the UK rose by 0.3%. The dollar index (DXY) held steady at 98.508; Trump's statement on "tax-free gold" boosted the Swiss franc, with EUR/CHF falling 0.2% to 0.9418 and USD/CHF falling 0.2% to 0.8107. US Treasury yields rose: the 10-year yield rose by 1.4 basis points to 4.287%, while the 2-year yield rose by 2 basis points to 3.774%. The British 10-year gilt yield rose by 3 basis points to 4.597%, and the pound sterling strengthened slightly after stable employment and wage data. Oil prices showed little change (Brent crude $66.85, WTI New York crude $64.12), while gold futures remained largely steady.