China and Uruguay Strengthen Strategic Partnership Amid Shifting Global Order 
EU Recovery Fund Faces Bottlenecks Despite Driving Digital and Green Projects 
Indian Rupee Strengthens Sharply After U.S.-India Trade Deal Announcement 
Asian Markets Slide as Silver Volatility, Earnings Season, and Central Bank Meetings Rattle Investors 
Gold and Asian Stocks Rebound as Market Volatility Eases and Global Sentiment Improves 
South Korea Factory Activity Hits 18-Month High as Export Demand Surges 
Japan’s Agricultural, Forestry and Fishery Exports Hit Record High in 2025 Despite Tariffs 
RBA Raises Interest Rates by 25 Basis Points as Inflation Pressures Persist 
U.S. Stock Futures Rise as Investors Eye Big Tech Earnings and AI Momentum 
JPMorgan Lifts Gold Price Forecast to $6,300 by End-2026 on Strong Central Bank and Investor Demand 
UK Employers Plan Moderate Pay Rises as Inflation Pressures Ease but Persist 
India Budget 2025 Highlights Manufacturing Push but Falls Short of Market Expectations 
Japan Finance Minister Defends PM Takaichi’s Remarks on Weak Yen Benefits 
Asian Currencies Strengthen as Indian Rupee and Australian Dollar Rally 
Trump Announces U.S.–India Trade Deal Cutting Tariffs, Boosting Markets and Energy Ties 
Philippines Manufacturing PMI Hits Nine-Month High Despite Weak Confidence Outlook 
U.S. copper prices surged to a record high on Tuesday after President Donald Trump announced a 50% tariff on imported copper, intensifying global trade tensions. Trump also warned of upcoming tariffs on semiconductors and pharmaceuticals. U.S. Comex copper futures spiked over 12%, highlighting the metal’s strategic importance in electric vehicles, military hardware, and infrastructure. Copper miner Freeport-McMoRan (NYSE:FCX) rose 2.5% in response.
In letters to 14 countries, including Japan and South Korea, Trump confirmed sweeping tariffs would take effect August 1. While he noted progress with the EU and China, he hinted that a new tariff letter to the EU was imminent. Stocks, which sold off on Monday, were relatively stable Tuesday, as investors awaited second-quarter earnings reports. Analysts from BofA and Goldman Sachs raised their S&P 500 year-end targets, citing solid corporate earnings.
The Dow Jones slipped 0.37% to 44,240.76, the S&P 500 dipped 0.07% to 6,225.52, and the Nasdaq inched up 0.03% to 20,418.46. The MSCI world index fell slightly, while Europe’s STOXX 600 gained 0.41%.
The Federal Reserve’s meeting minutes, due Wednesday, may offer insight on potential rate cuts. U.S. Treasury yields rose, with the 10-year yield climbing to 4.417%. However, demand was weak for a $58 billion three-year note auction. Additional bond sales are scheduled for later this week.
Currency markets saw the yen slide against the dollar and euro, while the Australian dollar gained after the RBA held interest rates steady. Oil prices edged up, with U.S. crude at $68.33 and Brent at $70.15. Spot gold fell 1.05% to $3,300.32 per ounce.
