A Bloomberg survey shows OPEC crude output rose 2.34 mln b/d in June to 18.75 mln b/d as a U.S.-Iran peace accord enabled members to resume exports via the Strait of Hormuz. Kuwait, Saudi Arabia and Iran posted the largest gains. Tanker-tracking data indicate Gulf producers had already been clandestinely moving cargoes through the strait before the accord; the strait was almost closed in the early stages of the conflict. With the agreement allowing more open transits, Saudi shipments have recove

China's CSI 300 Index closed up 29.88 points, or 0.62%, at 4,842.17 on Friday, July 3; the Shanghai Composite rose 14.74 points, or 0.37%, to 4,043.64; the Shenzhen Composite gained 98.70 points, or 0.64%, to 15,597.51; the ChiNext Index edged up 2.66 points, or 0.07%, to 4,019.93; the STAR 50 Index slipped 11.69 points, or 0.59%, to 1,975.60.

The dollar slid sharply this week and is poised for its largest weekly decline since April after U.S. June jobs softened and markets trimmed the near-term Fed rate path; the dollar index fell about 0.5% on the week. EUR/USD rose to 1.1440, up roughly 0.5% for the week. GBP/USD climbed to 1.3352, gaining about 1.1% and marking its best weekly performance in nearly three months. USD/JPY, having retreated from near a 40-year high, fell to around 161 but remains elevated. Japanese finance and cabinet officials reiterated close market monitoring and said they stand ready to intervene in FX markets. Analysts say the dollar is clearly tracking employment data and rate expectations; further weak economic releases could extend dollar pressure, while the yen’s sustainability depends on the U.S.-Japan rate differential and any Japanese policy action.