Japan Manufacturing Growth Accelerates in June as Orders Surge Despite Iran War Cost Pressures 
Italy’s Economy Outpaces Eurozone Peers as Investment Spending Fuels Growth 
US Stock Futures Recover as Iran Signals Progress in Peace Talks 
Trump Says No Hormuz Strait Tolls During 60-Day Iran Ceasefire 
Asian Stocks Slip as Oil Rebounds Amid Fed Rate Hike Fears 
Dollar Holds Firm as U.S.-Iran Talks Ease Tensions, GBP/USD Slips Amid UK Political Uncertainty 
France Faces Long Road to Economic Rebalancing as Weak Demand and High Rates Weigh, Says Citi 
New Zealand Fast-Tracks Gold Mining as Industry Revival Gains Momentum 
China Keeps Loan Prime Rates Unchanged for 13th Straight Month as Policymakers Prioritize Credit Demand Recovery 
South Korea Stocks Tumble as AI-Fueled Rally Faces Profit-Taking Pressure 
Oil Prices Steady as U.S.-Iran Truce Uncertainty and Middle East Tensions Keep Markets on Edge 
US Stock Futures Slip After Wall Street Rally Fueled by US-Iran Deal and Chipmaker Surge 
Japan Keeps Markets Guessing as Yen Nears 40-Year Low, Raising Intervention Risks 
Canada Imposes 10% Tariff on Canned Vegetable Imports to Protect Domestic Industry 
100+ Global Companies Push Governments to Prioritize Electrification for Economic Growth 
Canada, British Columbia Launch $5 Billion Infrastructure Partnership to Boost Housing, Transit, and Healthcare 
The U.S. dollar strengthened on Monday after President Donald Trump announced plans for new 25% tariffs on all steel and aluminum imports. This move pressured the euro, Australian dollar, and New Zealand dollar while fueling concerns over a global trade war. Trump also stated he would introduce reciprocal tariffs matching other countries' levies, with details expected Tuesday or Wednesday.
The euro slipped 0.1% to $1.0317, nearing last week’s two-year low of $1.0125, as investors braced for Trump’s tariffs on Europe. The Australian dollar fell 0.21% to $0.6264, while the New Zealand dollar dipped 0.12% to $0.5649. The Canadian dollar, impacted by its position as the largest U.S. aluminum supplier, weakened by over 0.2%.
Charu Chanana, chief investment strategist at Saxo, noted that China is no longer a major U.S. steel supplier due to past tariffs but warned of increased market uncertainty and a shift toward protectionism.
Investors now await U.S. inflation data on Wednesday and Federal Reserve Chair Jerome Powell’s congressional testimony on Tuesday and Wednesday, where tariffs are expected to be a key topic. Analysts suggest new tariffs could drive inflation and pressure the Fed to maintain high interest rates. Markets have adjusted expectations, now pricing in 36 basis points of rate cuts for 2025, down from 42 bps after a strong jobs report.
Macquarie strategists revised their Fed outlook, predicting no rate cuts in 2025, keeping rates in the 4.25%-4.5% range. The dollar index remained steady at 108.23. Sterling held at $1.23915, while the Japanese yen weakened 0.4% to 152 per dollar but stayed near Friday’s one-month high amid expectations of a Bank of Japan rate hike.
