Asian share markets edged higher on Monday, July 6, 2026, buoyed by Wall Street futures gains amid hopes for a strong earnings season and falling oil prices that could ease inflationary pressures. Despite no progress in the tense U.S.-Iran peace talks, maritime traffic through the Strait of Hormuz remained steady with 160 vessels reported last week.

OPEC+ agreed to raise output targets by 188,000 barrels per day starting in August, following similar increases in June and July. This contributed to Brent crude oil prices slipping 0.6% to $71.70 a barrel, near a four-month low, while U.S. crude fell 0.5% to $68.38.

The combination of lower energy costs and a softer U.S. payroll report led markets to reduce expectations of a near-term Federal Reserve rate hike. Futures indicated a 78% probability that rates will remain steady at the Fed's July 29 meeting. Minutes from the Fed's last meeting, expected Wednesday, may shed light on some board members' hawkish stance prior to the recent oil price decline.

Richard Yetsenga, head of research at ANZ, commented, "Even if you thought there was a risk the Fed might move soon, I think we're safe at least for another month."

This week’s earnings calendar is light, featuring Delta Air Lines and PepsiCo, but Samsung Electronics is expected to report a dramatic profit increase on Tuesday. According to an LSEG SmartEstimate, the world's largest memory chipmaker by sales is likely to announce an operating profit of 86 trillion won ($56.35 billion) for the April to June quarter, an 18-fold increase from previous periods.

In currency markets, the dollar index stabilized at 100.880 after a dip following the disappointing June payrolls report.

Sources