
US Market Open: Constructive risk environment focusing on tariff extension to August 1st; AUD outperforms on unexpected hold
7/8/2025
0:00
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
More episodes from "Newsquawk Rundown, Daily Podcast"
Don't miss an episode of “Newsquawk Rundown, Daily Podcast” and subscribe to it in the GetPodcast app.