Morning Economic Report 7-22-25

Economy Update

APAC remains mixed over the morning session, with Europeans weaker along with a small US futures drift after the record highs of S&P and Nasdaq yesterday. Yesterday’s US buyers pre-empting Alphabet results on Wednesday gave most mega caps a boost with S&P getting very comfortable above 6k again. The EU appears to be lining up a more robust response if US tariffs go ahead at heightened rates and acts as one of the deflators for Euro stocks as well as some poor results. Japan and S. Korea make trade overtures, but nothing seems concrete with more tariff letters due out for August 1st. US Treasury Secretary remarks that the FED needs examination again causes anxiety in the USD. DAX -0.80%, CAC -0.54%, FTSE +0.34%, Euro STOXX600 -0.44%. Few drivers for Forex, but the USD slips with softer yields and reflects the uncertain trade negotiations. DXY 97.79. Gold 3387. BTC $118,394