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Jul 04, 2025
Markets volatile amid US holiday - trade tensions
Futures fall - oil retreats as tariff decisions awaited
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Global financial markets are experiencing cautious volatility today, July 4, 2025, coinciding with the US Independence Day holiday. US markets were closed for the holiday, contributing to a decline in liquidity and a lack of clear direction. Futures for US indices, such as the Nasdaq and Dow Jones, recorded declines ranging between 0.6% and 0.7% in pre-market trading, amid investor caution regarding upcoming events, most notably the new US tariff decision. |
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Meanwhile, US crude oil prices stabilized around $66 a barrel, influenced by official statements from Tehran affirming its commitment to the nuclear non-proliferation agreement. Markets are awaiting the results of the OPEC+ meeting expected this week, which may include indications of further production increases.
On the currency front, the US dollar saw a slight decline against a basket of major currencies, while gold prices rose, supported by a weaker dollar and increased demand for safe-haven assets.
Investors are awaiting the US announcement in the coming days regarding the fate of the so-called "Liberation Day" tariffs, which could include new duties of up to 70% on some imports, increasing short-term trade risks.