π° Hourly Briefing | 2026-08-02 11:00 CST
Trump says Iran requested delay of attack, agrees to cancel strikes in exchange for a deal; Japan officials: Finance Minister to announce Monday US-Japan coordinated intervention to curb yen depreciation; Visa plans to lay off 2,600 employees driven by AI adoption and cost cuts. Gold drops 1.46% to $4,043, WTI crude surges 2.88% to $85.
π Market Snapshot
- π₯ Gold (XAUUSD): $4,043.60 (-1.46%β) Day range $4,020.94 - $4,111.72
- π’οΈ WTI Crude (USOIL): $85.04 (+2.88%β) Day range $79.95 - $85.04
- π S&P 500: 7,489.80 (+0.70%β) [Friday close]
- π Dow Jones: 52,485.74 (+0.53%β) [Friday close]
Note: US markets closed Friday; Saturday session closed.
π₯ Key News This Hour
1. Trump says Iran requested delay of attack, agrees to cancel strikes in exchange for a deal (10:06)
Trump posted on social media that the US is ready to confront Iran with military force unseen since WWII. However, he just received requests from Iran and other Middle Eastern countries to delay the attack. Trump agreed to cancel the strikes in exchange for a deal. This follows Iran’s suspension of Hormuz Strait passage β a major de-escalation in US-Iran tensions.
2. Japan officials: Finance Minister to announce Monday US-Japan coordinated intervention to curb yen depreciation (09:13)
Two Japanese government officials told Reuters that Finance Minister Katayama will announce Monday that Tokyo and Washington have taken joint action in currency markets to stop yen depreciation. Sources indicated Katayama will likely emphasize that intervention is not over. Japan previously suspected of spending over $53 billion on Thursday β potentially a historic record.
3. Visa plans to lay off 2,600 employees amid AI adoption and cost cuts (09:45)
Visa (V.N) announced layoffs of 2,600 employees, marking another major corporate restructuring driven by AI replacing human labor. OpenAI President Brockman separately noted ChatGPT is a “great thought amplifier.”
4. Japan Kumamoto earthquake death toll rises to 38 (09:07)
Kumamoto Prefecture confirmed 38 deaths from the July 28 earthquake. A 5.0-magnitude quake struck near the east coast of Honshu this morning at 48.4km depth.
5. Rubio: Era of “negotiation without consequences” for Iran is over (09:48)
Secretary of State Rubio stated that under Trump, Iran faces a distinctly different US president and can no longer expect to negotiate without consequences. He also outlined a multi-step roadmap for Venezuela regarding post-Maduro reconstruction.
π§ Assessment
A major turning point in US-Iran tensions β Trump shifts from “hardline strikes” to “agreeing to pause in exchange for a deal,” rapidly unwinding the geopolitical risk premium.
Gold fell from an intraday high of $4,111 to $4,043, down nearly 1.5%, reflecting declining safe-haven demand.
However, crude oil defied the trend, surging nearly 3% to $85 β the Hormuz Strait passage suspension keeps supply risk alive. With no deal finalized, markets dare not fully let their guard down.
On the yen front, the scale of US-Japan coordinated intervention is unprecedented β Thursday’s suspected $53 billion spend, with official announcement coming Monday.
The Finance Minister’s statement will determine the next FX direction; the hint that intervention is “not yet over” means yen shorts should remain on alert.
Visa’s 2,600 layoffs are a landmark event in AI-driven workforce restructuring β even financial infrastructure giants are replacing humans with AI. This trend warrants long-term tracking.
β° Upcoming Key Events
- Aug 4 (Monday): Japan Finance Minister officially announces US-Japan coordinated intervention
- Next week: Follow US-Iran negotiation developments and Hormuz Strait passage resumption timeline
- Next week: US earnings season continues, watch key corporate results