The latest Market Talks covering FX and Fixed Income. Published exclusively on Dow Jones Newswires throughout the day.

0833 GMT - Yields on U.K. government bonds, or gilts, fall as oil prices slide due to a pause in Middle East hostilities, but they are also helped lower after Prime Minister Andy Burnham indicated possible cut to welfare spending. In an interview with the BBC, Burnham said he wants to make it harder for people to claim benefits, which could calm concerns that his government could intend to increase public spending. Ten-year gilt yields are down 5.4 basis points to last trade at 4.984%, having hit a one week-low of 4.971% earlier in the session, Tradeweb data show. (miriam.mukuru@wsj.com)

0815 GMT - Bank Indonesia Gov. Perry Warjiyo's resignation could make further interest-rate increases this year somewhat less likely, particularly if a more growth-oriented governor is appointed, Gareth Leather of Capital Economics writes. The immediate policy implications should be limited, as Senior Deputy Gov. Destry Damayanti has been appointed as acting governor until a permanent successor is chosen, he notes. Warjiyo's departure will likely fuel speculation he faced pressure to better support President Prabowo Subianto's pro-growth agenda, the senior Asia economist says. It may also renew concerns about the central bank's independence, after its mandate was broadened to support economic growth and Prabowo appointed his nephew to BI's board. Capital Economics backs expectations for BI to keep its policy rate unchanged for the rest of 2026. (yingxian.wong@wsj.com)

0815 GMT - The euro remains vulnerable to renewed falls even as oil prices ease after the U.S. and Iran halted attacks, ING's Francesco Pesole says in a note. The euro's rise above $1.14 looks "somewhat optimistic" given the absence of a clear de-escalation path, he says. "Any renewed military strikes could quickly send Brent crude back to $100 per barrel and the euro below $1.1380." Potential dollar buying ahead of the Federal Reserve's decision Wednesday could also weigh on the euro versus the dollar, he says. Elevated gas prices are another reason to remain cautious on the euro unless tensions ease quickly, he says. The euro rises 0.3% to $1.1402.(renae.dyer@wsj.com)

0755 GMT - Growth across Asia is expected to be higher than previously expected on stronger AI demand, the Asean+3 Macroeconomic Research Office says in its latest outlook. Amro estimates 2026 growth for the Asean+3 region, which comprises Southeast Asia, China, Japan and South Korea, at 4.1%, up slightly from its previous forecast of 4.0% made in June. It expects headline inflation for the region at 1.6% for the year, down from its previous forecast of 1.8%, citing lower global commodity price assumptions. "The upgraded outlook reflects sustained momentum in the region's technology sector, particularly robust demand for semiconductors and other AI-related products, alongside a more favorable global commodity price outlook," Amro says. The impact of the Middle East conflict has been less severe than initially expected, Amro adds. (jihye.lee@wsj.com)

0741 GMT - Asia economies may face higher inflation pressure from elevated oil prices, according to Goldman Sachs in a research note. GS maintains its oil-price forecast of $80 per barrel for Brent in 4Q, although the price can go even higher given renewed U.S.-Iran military strikes and potential for a new bottleneck in the Red Sea. "Import prices and producer prices rose sharply across Asia in recent months (though implicit or explicit subsidies have moderated or capped retail fuel prices in some countries)," they say. (tracy.qu@wsj.com)

0734 GMT - Gold prices rise after the U.S. paused military strikes against Iran, sending Brent crude below $90 a barrel and easing concerns over inflationary pressures. In early European trading, New York gold futures are up 0.9% t $4,107.10 a troy ounce. "The easing in geopolitical tensions has reduced inflation concerns and could lessen pressure on the Fed to tighten policy further, providing near-term support for gold ahead of this week's closely watched Fed meeting," says Soojin Kim, analyst at MUFG. With a hold largely priced in, investors will focus on Fed Chair Kevin Warsh's remarks for clues on the policy outlook and the likely path of interest rates for the remainder of the year.(giulia.petroni@wsj.com)

0714 GMT - Yields on U.K. government bonds, or gilts, fall as oil prices decline, easing concerns about inflation. The price of Brent crude falls 6.5% to $90.5 a barrel after the U.S. and Iran paused attacks, raising prospects of a potential resolution to the Middle East conflict. Ten-year gilt yields hit a one-week low of 4.971%, Tradeweb data show. (miriam.mukuru@wsj.com)

0708 GMT - The Monetary Authority of Singapore's move today to raise the slope of the Singapore dollar nominal effective exchange rate's policy band "very slightly" probably signals fine-tuning rather than accelerating tightening cycle, says Goldman Sachs' Economics team in a research report. The MAS' move likely raises the SGD NEER slope by 25 bps to 1.25% per year from 1.00% per year and keeps monetary policy mildly restrictive, while preserving flexibility amid heightened global uncertainty, they estimate. GS expects the MAS to leave monetary policy settings unchanged for the rest of 2026, though it notes that risks of further tightening increase if global energy prices continue to rise and remain at an elevated level for a prolonged period. (ronnie.harui@wsj.com)

0705 GMT - Bitcoin rises as a pause in fighting between the U.S. and Iran improves risk sentiment. President Trump has delayed major military escalation against Iran to allow for diplomacy, The Wall Street Journal reports, citing U.S. officials. Continued negotiations, lower energy prices and reduced military escalation improve liquidity conditions, lower inflation fears and support risk appetite, Zaye Capital Markets analyst Naeem Aslam says in a note. However, bitcoin remains vulnerable given recent outflows in spot bitcoin exchange-traded funds, he says. Any renewed attacks in the Middle East could send bitcoin to as low as $60,000, he says. Bitcoin rises 1.3% to $65,440, LSEG data show. (renae.dyer@wsj.com)

0700 GMT - The Middle East conflict remains a key factor in Singapore's outlook, although its effects have manifested more in inflation rather than growth, says the Monetary Authority of Singapore in a report. Shipping and tanker volumes through the Strait of Hormuz remain significantly below pre-conflict levels up to recent weeks and any disruptions could take time to resolve, it says. Still, activity at Singapore's ports has been relatively resilient so far, suggesting that regional shipping lanes have been largely shielded from the disruptions, it adds. A potential re-escalation of Middle East tensions could drive up inflation in the city-state, the MAS says, but the conflict's drag on economic growth is unlikely to worsen and would be outweighed by the boost from strong AI demand.(megan.cheah@wsj.com)

0635 GMT - The dollar falls as oil prices decline and demand for safe havens wane following a pause in strikes between the U.S. and Iran over the weekend. President Trump has put off a major escalation in military action against Iran as he attempts to revive diplomacy, The Wall Street Journal reports, citing U.S. officials. The drop in oil prices prompts markets to slightly trim expectations for U.S. interest-rate rises ahead of the Federal Reserve's policy decision on Wednesday. The DXY dollar index falls 0.3% to 101.155. (renae.dyer@wsj.com)

0625 GMT - Eurozone government bond yields fall at opening trade, tracking U.S. Treasury yields. Bond yields fall alongside a significant retreat in oil prices, as U.S. President Trump stepped back from a military escalation against Iran, prioritizing diplomatic solutions to reopen the Strait of Hormuz. Eurozone government bond supply will come from Belgium, which will auction 2.4 billion euros to 2.8 billion euros in 2031-, 2033- and 2035-dated bonds on Monday. The 10-year Bund yield falls 3.5 basis points to 3.134%, according to LSEG. (emese.bartha@wsj.com)

(END) Dow Jones Newswires

July 27, 2026 04:33 ET (08:33 GMT)

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