🌏 Asian Session

🇯🇵 Nikkei 225 up 0.4% near 69,012 as tech leads (Kioxia, SoftBank); Q2 GDP came in softer than expected

🇭🇰 Hang Seng opened higher (~+0.7%–1.3%), though broader Asia-ex-Japan shares are flat overall

🇰🇷 South Korea closed for Liberation Day

🇨🇳 Eyes on China's July industrial output and retail sales data, due later today

💵 Forex

EUR/USD holding 1.1600–1.1650, eyeing the 1.1610 zone

USD/JPY steady near 158–159, yen firm on BoJ hike bets and a softer dollar

Dollar broadly weaker Monday after last week's soft US data

🛢 Commodities

Brent crude steady near $88.50/bbl, WTI ~$82.10 – Strait of Hormuz still effectively closed

Gold firm near $4,390/oz, holding gains as Fed hike bets ease

📉 Backdrop

Oil posted sizeable gains last week on stalled Hormuz talks; Iran urged the US to "accept defeat" over the weekend

11 killed in Israeli strikes in southern Lebanon Saturday, adding to regional risk

Fed September hike odds near 30%, down sharply from over 65% two weeks ago

📅 Today's Focus

China activity data, US housing/industrial figures, and headlines from the Strait of Hormuz remain the key drivers

Trade safe! 📊

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