Italy’s Economy Outpaces Eurozone Peers as Investment Spending Fuels Growth 
Dollar Hits One-Month High as Hawkish Fed Outlook Boosts Greenback 
France Faces Long Road to Economic Rebalancing as Weak Demand and High Rates Weigh, Says Citi 
Asian Stocks Surge as Oil Prices Fall and Strong US Dollar Weighs on Markets 
China Keeps Loan Prime Rates Unchanged for 13th Straight Month as Policymakers Prioritize Credit Demand Recovery 
US Stock Futures Recover as Iran Signals Progress in Peace Talks 
Oil Prices Drop as U.S.-Iran Talks Ease Supply Concerns 
Russian Stocks End Flat as MOEX Index Hits New 52-Week Low 
Trump Says No Hormuz Strait Tolls During 60-Day Iran Ceasefire 
Fed Chair Kevin Warsh Signals Policy Overhaul as Hawkish Rate Outlook Rattles Markets 
China’s AI Manufacturing Boom Masks Weak Consumer Economy, Citi Says 
German Industry Employment Falls to Lowest Level in a Decade 
Japan Signals Readiness to Intervene as USD/JPY Nears 161 Amid Yen Weakness 
Russia Stocks End Flat as MOEX Index Hits New 52-Week Low; Gold Falls and Oil Mixed 
Japan Inflation Stays Below BOJ Target Despite Rate Hike and Rising Energy Cost Risks 
Canada Imposes 10% Tariff on Canned Vegetable Imports to Protect Domestic Industry 
Trump Questions USMCA Renewal as Trade Talks Continue 
Traders shifted into safe haven currencies like the yen and Swiss franc while dumping the Australian dollar, as U.S. President Donald Trump unexpectedly intensified tariffs on China. Despite a temporary 90-day pause on tariffs for other nations, markets remained jittery over the deepening U.S.-China trade war.
Risk-sensitive assets initially rebounded after Trump’s surprise announcement to hold off duties, triggering gains in Asian stocks. However, the optimism was dampened as Trump raised the tariff rate on Chinese imports to 125%, while keeping a 10% baseline for others. This move followed his “Liberation Day” declaration, which had sent global markets into a tailspin.
The U.S. dollar weakened, falling 0.7% to 146.68 yen and 0.62% to 0.8522 Swiss franc, while the euro rose 0.32% to $1.0985. The Australian dollar slipped 0.33% to $0.6132, reflecting its sensitivity to Chinese market conditions, after earlier plunging to a five-year low.
The offshore Chinese yuan edged down 0.2% to 7.3545 per U.S. dollar, following a volatile week that saw it hit a record low of 7.4288 before rebounding. Meanwhile, China lodged a new complaint with the WTO, calling U.S. tariffs “reckless” and raising its duties on U.S. goods to 84%.
Analysts warned that the escalating tariff battle risks long-term economic damage. “Trump likely blinked at signs of financial crisis,” said Kyle Rodda of Capital.com. BCA Research added, “Beijing views this as economic warfare,” expecting further yuan depreciation.
With investor confidence shaken, the U.S. dollar’s dominance faces renewed scrutiny, while safe haven flows reflect growing uncertainty over Trump’s trade strategy and its impact on global growth.
