Morning Economic Report 7-2-25

Economy Update

It took a VP Vance casting vote to get the Big, Beautiful Bill across the line but oddly, there was little reaction from markets and none today. Chat centres around better JOLTs jobs and what it could mean for FED cuts. This links with the USD, its continued weakness and how it was discussed at Sintra, Portugal by central bankers. Wires chat on July 9 tariff deadline with Trump saying India deal is close but not one for Japan. European bourses and US futures are mildly positive but are starting to focus on Non-Farm Payrolls tomorrow, with ADP employment the warmup today. DAX +0.27%, CAC +1.26%, FTSE +0.22%, Euro STOXX600 +0.52%. USD remains soft due to Powell comments yesterday taken as he being open to a cut in July and approaching tariff deadline, DXY 96.95. Gold 3341. BTC $107,735.