Trump's Plan to Impose 50% Tariff on Copper Imports Shakes Global Supply ChainsTrump's Plan to Impose 50% Tariff on Copper Imports Shakes Global Supply Chains
Trump Signs "Big and Beautiful" Act, Hitting New - energy IndustryTrump Signs "Big and Beautiful" Act, Hitting New - energy Industry
EU - US Trade Talks Stalled, European Economic Data Under PressureEU - US Trade Talks Stalled, European Economic Data Under Pressure
European Stocks Rally on July 9, STOXX 600 Hits Four-Week HighEuropean Stocks Rally on July 9, STOXX 600 Hits Four-Week High
Title: Trump Imposes 50% Punitive Tariffs on Brazil, Launches Unfair - Trade ProbeTitle: Trump Imposes 50% Punitive Tariffs on Brazil, Launches Unfair - Trade ProbeLocal - time on Wednesday, US President Donald Trump turned his trade anger towards Brazil, the largest economy in Latin America. He announced a 50% punitive tariff on Brazilian goods exported to the US and ordered an investigation into "unfair trade practices", which may lead to higher tariffs. The new tariff will take effect on August 1, much higher than the 10% tariff imposed on Brazil on April 2 this year.
UK Secures £7.5bn Green Energy Investment, Eases Mortgage Rules to Boost Housing MarketUK Secures £7.5bn Green Energy Investment, Eases Mortgage Rules to Boost Housing MarketBritain announced a £7.5 billion ($10 billion) clean energy investment deal with Japan’s Sumitomo Group on July 9, focusing on offshore wind and hydrogen infrastructure. Investment Minister Poppy Gustafsson said it would "break grid bottlenecks." Sumitomo, a long-term energy investor, has injected over £20 billion in the UK in a decade, marking a key step in the Labour government’s push for private capital in net-zero transitions.
FTSE 100 Edges Up 0.2% on July 9 as Markets Digest U.S. Tariff ExpansionFTSE 100 Edges Up 0.2% on July 9 as Markets Digest U.S. Tariff ExpansionLondon’s FTSE 100 inched up 0.2% on July 9, with investors continuing to absorb the impact of U.S. tariff expansions. Advertising giant WPP (WPP.L) plunged 19%—its worst daily drop in over three decades—after slashing profit forecasts due to key client losses and shrinking new business, weighing heavily on the index.
New Zealand Central Bank Pauses Rate Cuts as Recession Risks LoomNew Zealand Central Bank Pauses Rate Cuts as Recession Risks LoomOn July 9, the Reserve Bank of New Zealand (RBNZ) kept the Official Cash Rate (OCR) steady at 3.25%, in line with market expectations. This pause brings an end to six consecutive rate cuts since August 2023, during which the rate was slashed by a cumulative 225 basis points.
New Zealand's S&P/NZX 50 Falls 0.7% as RBNZ Pauses Rate CutsNew Zealand's S&P/NZX 50 Falls 0.7% as RBNZ Pauses Rate CutsNew Zealand’s benchmark S&P/NZX 50 index dropped 0.7% to 12,769 on Wednesday, pulling back from a seven-week high hit the previous day, after the Reserve Bank paused its rate-cutting cycle. The central bank kept the cash rate at 3.25% as expected, citing concerns that current inflation and global trade tensions could fuel price pressures. It had cut rates six times since August 2023, totaling 225 basis points, but signaled further cuts may come if inflation eases as projected in May.
Australian Business Conditions Surge to 1-Year High, Offset by U.S. Tariff RisksAustralian Business Conditions Surge to 1-Year High, Offset by U.S. Tariff RisksAustralia’s business environment improved sharply in June, with NAB’s Business Conditions Index jumping 9 points to a 13-month peak on July 9, while confidence rose for the third straight month (+3 points). All key metrics strengthened: sales surged 10 points, profitability gained 9 points, and employment edged up 2 points. Capacity utilization hit 83.3%, with future orders climbing 2 points, signaling a shift from early-year weakness and stronger second-half momentum, noted NAB’s Australian Economics Head Gareth Spence.
Australian Shares Edge Up in Narrow Range; RBA Rate Decision Sparks VolatilityAustralian Shares Edge Up in Narrow Range; RBA Rate Decision Sparks VolatilityAustralia’s benchmark S&P/ASX 200 inched up 0.02% to 8,590.7 on Tuesday, oscillating narrowly after the Reserve Bank’s surprise decision to hold rates steady triggered intraday dips. The index briefly turned negative in early trading but recovered modestly by close.
Canada's June Ivey PMI Rises to 4-Month High; Rental Market Cools UnevenlyCanada's June Ivey PMI Rises to 4-Month High; Rental Market Cools UnevenlyCanada’s Ivey PMI climbed to 53.3 in June, a four-month high, signaling accelerating economic activity. However, underlying concerns emerged: the employment sub-index dipped below 50 (49.5), while the price index surged to 70.2, highlighting mounting inflation pressures.
Canada's S&P/TSX Dips 0.2% as Mining Slides; Energy Gains Offer Partial OffsetCanada's S&P/TSX Dips 0.2% as Mining Slides; Energy Gains Offer Partial OffsetCanada’s S&P/TSX Composite Index fell 0.2% to 26,959.65 on Tuesday, dragged by a 2.4% plunge in mining. Gold producers led declines: SSR Mining (SSRM.TO) dropped 6.1% and Orla Mining (OLA.TO) 6.5%, reflecting global gold price pullbacks.
Trump Escalates Trade War: 25% Tariffs on Japan, South Korea and Others From AugustTrump Escalates Trade War: 25% Tariffs on Japan, South Korea and Others From AugustU.S. President Donald Trump announced Monday that the U.S. will impose sharply higher tariffs on multiple trading partners, including Japan and South Korea, starting August 1, marking a new phase in the global trade war he launched earlier this year.
Euro Zone Shows Recovery Signs as Sentix Hits 3-Year High, German Industry ReboundsEuro Zone Shows Recovery Signs as Sentix Hits 3-Year High, German Industry ReboundsThe euro zone’s economic outlook brightened in July: the Sentix Investor Confidence Index surged to 4.5 (up from 0.2), a three-year peak and third straight rise. The current conditions sub-index improved to -7.3 (still contracting), while the expectations gauge jumped to 17.0, signaling optimism. Germany’s index rose to -0.4 (highest since February 2022), with its current conditions improving for five months. Analysts warn sustained recovery could limit the ECB’s rate-cut room.
UK House Prices Stabilize; Corporate Investment Shifts Toward BritainUK House Prices Stabilize; Corporate Investment Shifts Toward BritainUK house prices showed signs of stabilization in June, with Halifax data recording zero month-on-month growth (previous figure revised up to -0.3%) and annual gains edging down to 2.5%. While April’s stamp duty hike dampened activity—prices are slightly lower than late 2023—mortgage rates have fallen to their lowest since 2023. Halifax Mortgages Director Amanda Bladen noted wage growth is supporting market resilience, with two rate cuts expected this year likely to drive modest price recoveries in H2.
RBNZ Likely to Pause Rate Cuts This Week; Economic Outlook Faces PressuresRBNZ Likely to Pause Rate Cuts This Week; Economic Outlook Faces PressuresNew Zealand’s Reserve Bank (RBNZ) is expected to keep the Official Cash Rate (OCR) unchanged at 3.25% on July 10, pausing its streak of six consecutive rate cuts since August 2024. Market expectations for a cut this week stand at just 15%, though most forecasts anticipate 25–50 basis points of easing by November. ANZ Bank holds a differing view, assigning a 40% probability of a cut and projecting cumulative 75 basis points of reductions by February 2025, bringing the OCR to 2.5%.
Plummeting International Student Numbers in Australia Raise Labor Shortage Fears; RBA Rate Cut ImminentPlummeting International Student Numbers in Australia Raise Labor Shortage Fears; RBA Rate Cut ImminentAustralia is grappling with a sharp decline in international students, triggering concerns over labor market gaps. As of April 2025, the total number of international students dropped to 794,000, a decrease of 300,000 from the end of 2024. New enrollments plummeted 13% year-on-year to 219,000, while visa applications fell by over 30%. This is largely attributed to successive policy tightenings: visa fees were hiked twice in a year (from A$710 to A$1,600, then to A$2,000); English proficiency and financial proof requirements were raised
Canada's Job Market Strains; Employment Security Confidence Hits Over 1-Year LowCanada's Job Market Strains; Employment Security Confidence Hits Over 1-Year LowCanadians’ confidence in job security has dropped to a more than one-year low, with Nanos Research’s latest poll showing only 59.9% of respondents viewing their employment as "secure or relatively secure"—while over 30% expressed uncertainty, the highest level since 2023.
UK Construction PMI Rises to 6-Month High in June but Remains in ContractionUK Construction PMI Rises to 6-Month High in June but Remains in ContractionBritain’s construction sector showed mixed signals in June, with the Purchasing Managers’ Index (PMI) edging up to 48.8—its highest level in six months—yet still lingering below the 50 threshold that separates expansion from contraction. A stark divide emerged within the industry:
