
US Market Open: Constructive risk environment focusing on tariff extension to August 1st; AUD outperforms on unexpected hold
8.07.2025
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4:39
- US President Trump said the August 1st tariff deadline is firm, but he is open to other ideas.
- European bourses began on the front foot, digesting the deadline pushback and reports that the US offered the EU a 10% tariff deal, via Politico.
- Since, benchmarks have eased off best with the tone now mixed, Euro Stoxx 50 +0.1%. Stateside, non-tariff updates limited, ES +0.1%.
- DXY is giving back some of Monday's gains. AUD outperforms on a surprise RBA hold. EUR and GBP both firmer, but off best.
- Fixed benchmarks hit by the tariff deadline extension and a packed supply docket.
- Crude in the red but within familiar ranges, pressure intensified on reports that Doha talks recommenced. Metals follow the risk tone.
- Looking ahead, highlights include US NY Fed SCE, NFIB Business Optimism, EIA STEO, ECB's Nagel & de Guindos, Supply from the US
- Click for the Newsquawk Week Ahead.
Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
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