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Global Markets Today

Aug 01, 2025

Trump's tariffs boost dollar

Today's Highlights:

High US Tariffs Impact Markets:

President Trump issued an executive order imposing new tariffs ranging from 10% to 41% on imports from 68 countries, including Canada, India, and China.
Result: US stock futures fell about 1%, and stock indices in Europe and Asia fell sharply.

Dollar at highest levels in months:

The dollar index approached a two-year high, supported by fading expectations of a rate cut.

Gold Posts Third Weekly Loss:

Gold prices were roughly flat at $3,293.6 per ounce, but are on track for a third weekly loss, which has limited gains despite safe-haven demand.
Reasons: Weak expectations of a rate cut and waning appetite for the metal.

Oil Declines Amid Demand Uncertainty:

Oil prices fell following the tariff announcement, with expected future demand declining. Current prices: Brent at $72.53, US WTI at $69.26.

US jobs data (today) will be the next driver of the Fed's direction.
Market reactions will focus on quarterly inflation indicators and the performance of major companies (such as Microsoft and Meta).
Gold may continue to fluctuate or decline if weak demand persists, while it may rebound if signs of inflation or weak growth appear.
The general market is likely to experience further volatility, both positive and negative, depending on developments in rates and interest rates.