Japan's Economy Stumbles Amid Global Turmoil

The Japanese Leading Economic Index for July came in at 117.9, lower than the expected 118.1 and down from 116.5 in the previous month.

This news was overshadowed by other global developments, including reports of projectile attacks on two oil supertankers in the Strait of Hormuz, which sent spot gold prices plummeting to $4390/oz before dipping lower.

Russian President Putin's comments that Russia and Ukraine should agree first on a peace agreement also weighed on Brent crude futures, with prices down 1.3% after he spoke.