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Markets
Iranian rial in freefall as dollar breaks 2.1 million mark
The rial has lost 63% of its value against the dollar since March, with the euro hitting 2.55 million rials and gold coins changing hands at 2.26 billion. Iran's central bank governor pledged a $2 billion injection while acknowledging inflation had placed "heavy pressure on people's livelihoods."
Economy
US inflation eases to 3.4% in July as Fed's next call stays uncertain
US inflation eased for a second month in July, with consumer prices rising 3.4% from a year earlier, down from 3.5% in June, exactly as economists had forecast, a reading that hands neither side of a divided Federal Reserve fresh ammunition before next month's rate decision.
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Iran
Trump tightens naval blockade as Iranian rial collapses to record low
The latest drop follows a currency shock several months ago, when the rial fell from around 1.4 million to 1.6 million per US dollar in under a week, as the war moves turns into an economic clash to exhaust the Iranian regime' options.
Markets
European shares hit record highs on US shutdown progress
European stocks rallied to new record highs as optimism grew over a US government shutdown resolution and strong corporate earnings. Gains were led by healthcare and luxury sectors, while UK bond yields rose amid political uncertainties. Currency and commodity markets showed mixed signals.
Markets
European markets turn gloomy as US–China trade war looms
Relations between China and the US are souring as the countries place fees on each other’s ships, worrying investors. The new front in the trade war comes despite President Trump’s claim on social media: "Don't worry about China, it will all be fine!”
