Australia June seasonally adjusted private-sector building approvals rose 0.4% MoM, prior +2.8%.

Capital XB executive director Ajitabh Bharti said the Fed’s lack of decisive rate action points to political considerations; with US midterm elections nearing, markets expect the Fed to prioritize stability over inflation control in the short term. That dynamic could support emerging markets such as India: a relatively weaker USD may ease rupee pressure and give capital flows and external balances some breathing room. Bharti cautioned that if US inflation persists or reaccelerates because policy action was delayed, the ensuing correction could be sharper and more disruptive, transmitting volatility to global markets including India.

At a regular press briefing the Foreign Ministry marked 30 years since China announced a moratorium on nuclear testing, saying Beijing has kept that pledge and was among the first signatories of the Comprehensive Nuclear-Test-Ban Treaty. It said China supports the treaty’s entry into force, backs capacity building for developing countries and has advanced domestic preparations to meet its obligations, contributing to the treaty’s universality and authority. The ministry reiterated China maintains a self-defensive nuclear strategy, keeps its nuclear forces at the minimum level necessary for national security and will not participate in any form of nuclear arms race. It added China’s nuclear forces are essential to deterring nuclear war and preserving global strategic stability.