This article has been translated from English to Gen Z Slang.
Yo, the tea is strong with those tariff headlines today! Trump truly has no chill, targeting semiconductors and the big pharma imports next. 🤯
On the flip side, the Aussie dollar did its own little jig after the RBA put out a surprise policy decision. 🕺💸
Check out the headlines you might’ve missed during the trading sessions, fam!
Headlines:
- Japan Bank Lending for June 2025: 2.8% y/y (2.4% y/y forecast; 2.4% y/y previous)
- Japan Current Account for May 2025: 3,436.4B (3,000.0B forecast; 2,258.0B previous)
- Japanese Finance Minister Kato made it clear, no FX rate tea spilled with U.S. Treasury Secretary Bessent 🤐
- Japanese PM Ishiba is out here saying no trade deal with the U.S. yet, still tryna get that win-win after Trump dropped the 25% tariffs bomb 💣
- White House spilled that Trump signed off on extending the tariffs deadline to August 1
- During a presser, Trump goes, "Deadline is firm but open to ideas," basically might vibe with changing tariffs on other countries 🤔
- Trump’s also out here talking about sending more weapons to Ukraine and getting chatty with Iran 💬
- Australia NAB Business Confidence for June 2025: 5.0 (-5.0 forecast; 2.0 previous) 🚀
- RBA gave everyone a shocker by sticking with a 3.85% rate instead of that expected cut to 3.60%
- During their talk, RBA Gov Bullock stressed it’s vibe check time on inflation, gotta take things slow and steady 🤔
- Japan Eco Watchers Survey Outlook for June 2025: 45.9 (45.0 forecast; 44.8 previous)
- Germany Balance of Trade for May 2025: 18.4B (16.0B forecast; 14.6B previous)
- Germany Imports for May 2025: -3.8% m/m (-1.2% m/m forecast; 3.9% m/m previous)
- Germany Exports for May 2025: -1.4% m/m (0.0% m/m forecast; -1.7% m/m previous)
- France’s trade numbers: May 2025 shows -7.8B (-6.1B forecast; -8.0B previous) 📉
- German Finance Minister lowkey throwing shade that EU might clap back if the U.S. trade tea isn't brewed right 🍵
- U.S. NFIB Business Optimism Index for June 2025: 98.6 (99.0 forecast; 98.8 previous)
- Canada’s Ivey PMI s.a for June 2025 hit 53.3 (49.0 forecast; 48.9 previous)
- U.S. Consumer Inflation Expectations for June 2025: 3.0% (3.2% forecast; 3.2% previous)
- Trump flexed, saying he's bringing on semiconductor tariffs soon, plus a hefty 50% tariff on copper 😳
Broad Market Price Action:
Dollar Index, Gold, S&P 500, Oil, U.S. 10-yr Yield, Bitcoin Overlay Chart by TradingView
Those tariff updates totally stole the spotlight as Asian markets were on a rollercoaster with Trump’s chaotic vibes about the August 1 deadline being a “maybe.” 🎢
Risky assets were doing the cha-cha, with WTI crude oil kinda slacking at first 'cause of global trade drama and supply chain nightmares. But it started flexing in the London session when geopolitical vibes popped off as Trump dropped some Ukraine and Putin drama. 🚀
Equity indices were cruising but cautiously, probs grasping onto the hope that some nations might strike new trade deals soon. But U.S. stocks ended either flat or slightly shook as peeps decoded the higher semiconductor and pharma tariff impact. 📉
Gold, though, dropped its safe-haven act during Asian and London times, before tanking real hard when the U.S. markets woke up. Treasury yields were on a steady climb from tariffs chatter, then just kinda existed sideways in New York before cooling down a bit before pack-up time. 📉✨
FX Market Behavior: U.S. Dollar vs. Majors:
Overlay of USD vs. Majors Chart by TradingView
The dollar was on its back foot at the start, with Trump and his crew dropping fresh tariffs notes like it’s hot. 🔥USD/JPY, however, was dodging the trend when Trump called out 25% tariffs on Japan, while PM Ishiba was like, "No deals with the U.S. just yet." 🤔
AUD/USD surged big time after the RBA decided to stay chill on the 3.60% rate cut. They were all, "We need to double-check inflation first," and it’s all about that slow and steady grind. ✌️
The USD sell-off hit a pause when Europe said "wassup," letting AUD/USD chill sideways while the other majors were like, "nah, gimme those dollar gains back, and more," especially when Trump talked about next-level semiconductor, copper, and pharma tariffs. 😅
Upcoming Potential Catalysts on the Economic Calendar
- Japan Machine Tool Orders at 6:00 am GMT 🛠️
- U.K. BoE Financial Stability Report at 9:30 am GMT
- Euro area ECB Lane Speech at 10:45 am GMT
- Euro area ECB Guindos Speech at 11:00 am GMT
- U.S. MBA 30-Year Mortgage Rate & Mortgage Applications at 11:00 am GMT 🏡
- U.S. Wholesale Inventories at 2:00 pm GMT
- U.S. EIA Crude Oil Stocks Change at 2:30 pm GMT
- U.S. FOMC Minutes at 6:00 pm GMT 📆
- New Zealand Visitor Arrivals at 10:45 pm GMT
- U.K. RICS House Price Balance at 11:01 pm GMT 🏠
- Japan Producer Prices Index Growth Rate at 11:50 pm GMT
Market peeps are prob pacing with anxiety waiting on today’s big thing: the FOMC meeting minutes. It's likely to drop hints on future policy vibes, so keep an eye out for more USD chaos and major market mood swings. 📉✨
As always, keep it agile and remember to hit up our Forex Correlation Calculator when making any moves! 💹🚀
