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
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 Probe
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.
U.S. House Passes First Major Crypto Industry Regulation BillsU.S. House Passes First Major Crypto Industry Regulation BillsThe U.S. House of Representatives passed the Genius Act on July 17, sending it to President Trump for signature. This marks the first U.S. regulatory framework for dollar-backed crypto stablecoins. The House also approved two other crypto bills the same day.
BOJ Warns of Food Price-Driven Inflation; U.S. Tariffs Could Severely Hurt Japan's GDPBOJ Warns of Food Price-Driven Inflation; U.S. Tariffs Could Severely Hurt Japan's GDPBank of Japan board member Junko Kotani warned on July 9 that surging prices of rice and other foodstuffs are intensifying inflationary pressures, urging vigilance against "second-round effects" that might lift household inflation expectations. Japan’s consumer inflation remains around 3%, but the BOJ’s weighted median inflation gauge—closely watched by policymakers—still lags below the 2% target. Kotani noted economic uncertainty makes it premature to pinpoint the next rate hike, with food prices a critical variable.
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.
RBA Pauses Rate Cuts; Mortgage Stress Shows Regional DivergenceRBA Pauses Rate Cuts; Mortgage Stress Shows Regional DivergenceAustralia’s central bank held its cash rate at 3.85% on July 9, with the Monetary Policy Committee voting 6-3 to wait. While May inflation dipped to 2.1% (core 2.4%, a 3.5-year low), June’s CPI was "slightly stronger than expected," and rising global trade policy uncertainties—like U.S. tariff hikes—prompted the RBA to seek more data confirming inflation’s steady move toward the 2.5% target.
Trump Tariffs Jolt Australian Stocks; Gold Mining Sector Leads DeclinesTrump Tariffs Jolt Australian Stocks; Gold Mining Sector Leads DeclinesAustralia’s stock market fell across the board on July 9, with the S&P/ASX 200 dropping 0.61% to 8,538.6 points. Markets reeled after Trump announced plans to impose 50% tariffs on imported copper (effective as early as late July) and 200% on pharmaceuticals, triggering a 13.1% daily surge in copper prices—their biggest jump since 1989.
Canada Accelerates Trade Diversification to Counter U.S. Tariff ShocksCanada Accelerates Trade Diversification to Counter U.S. Tariff ShocksCanada is pushing faster trade diversification to fend off U.S. tariff impacts: its U.S. export share dropped 10 percentage points to 68% between May 2024 and May 2025, with auto parts and steel hit hardest. Over the period, U.S.-bound exports fell C$7.7 billion (-15%), while gains to the UK, EU, and Asia-Pacific (C$5.7 billion, +42%) failed to offset the gap.
Canada's S&P/TSX Rises 0.35% as Real Estate Leads, Tariff Impact MutedCanada's S&P/TSX Rises 0.35% as Real Estate Leads, Tariff Impact MutedCanada’s S&P/TSX Composite Index ended a two-day slide, edging up 0.35% to 26,998.66 on July 9, with real estate stocks leading gains. Markets reacted divergently to Trump’s 50% copper tariff plan (effective as early as late July) and extended trade talks to August 1: the real estate index (.GSPTTRE) rose 0.5% on H&R REIT’s (HR_u.TO) 4.7% surge amid Blackstone acquisition talks.
Ireland Revises Q1 GDP Down, Germany’s Exports Slide on U.S. Tariff ShiftsIreland Revises Q1 GDP Down, Germany’s Exports Slide on U.S. Tariff ShiftsIreland’s CSO sharply revised Q1 GDP growth on July 8: annual expansion was cut to 7.4% from 9.7%, as surging U.S. pharmaceutical exports faded. The more indicative Modified Domestic Demand (MDD) was revised up to 2.0% from 0.8%, though 2024 full-year MDD growth was trimmed to 1.8% from 2.7%. GNI*, stripping multinationals’ distortions, showed 4.8% 2024 growth, highlighting GDP’s skew from cross-border capital flows.
Auckland CBD Retail Vacancy Hits 13%, Triple Wellington’s Rate Amid Mixed PressuresAuckland CBD Retail Vacancy Hits 13%, Triple Wellington’s Rate Amid Mixed PressuresAuckland’s downtown retail vacancy rate stands at 13%, nearly three times Wellington’s 5.3%, driven by overlapping factors. Oversupply plagues areas like Newmarket post-Westfield mall opening, requiring time to absorb excess space, while hybrid work models reduce foot traffic in the city center.
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.
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.
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.
