Morning Economic Report 7-10-25

The US tariff assault on the world continues. President Trump announced 50% on copper and 50% on Brazil imports starting Aug 1. This comes on top of yesterday’s earlier announced 20-30% on Philippines, Algeria, Iraq, Brunei, Moldova, Sri Lanka and Libya. Trump stated he was ready to announce the EU levy rate within in the next couple of days, adding to bourses being steady initially led by tech as NVDA reaches $4trillion value. There is also speculation on China property market stimulus. FOMC minutes revealed interest rate cuts would be appropriate later this year but should be modest. Docket light, US jobless claims the main interest. DAX +0.22%, CAC +0.55%, FTSE +0.65%, Euro STOXX600 +0.56%. Forex markets are caught up between tariff bombardment and non-event from FOMC minutes., DXY 97.40. Gold 3326. BTC $111,072.