๐ Morning Market Update | 12.06.2025
๐บ๐ธ Tariff Watch: Treasury Sec. Bessent told Congress that Trump is โvery likelyโ to delay the July 8 tariffs. Countries negotiating in good faith may get deadline extensions โ talks are ongoing with 18 nations. Only the UK has reached a preliminary deal so far. ๐ค๐
โ๏ธ Trump is expected to announce new unilateral tariffs in the next two weeks, with no details yet. Markets are watching closely. ๐ฆ๐
๐ฏ๐ต Japan: Q2 business confidence tumbled โ large firms index fell to -1.9, services to -0.5 โ first negative reading in over a year. Pressure is mounting on BoJ ahead of its June 16โ17 meeting. ๐๐
๐ฆ๐บ Australia: Consumer inflation expectations surged to 5.0% in June (from 4.1%) โ highest since July 2023. ๐ฅ Could we see a more hawkish RBA? ๐ฌ๐
๐ข๏ธ Geopolitics: Reports say Israel may strike Iranian military targets. The U.S. urged its citizens to consider leaving the region. Meanwhile, nuclear talks are still on for Sunday. Tension + diplomacy = uncertainty. โ ๏ธโข๏ธ
๐ฆ ECB: Central banks kept buying gold at record levels in 2024. ๐ฐ The euro remains the ๐ second most used currency with ~19% of international transactions.
๐จ๐ณ๐ซ๐ท ChinaโEU: VP Han Zheng met Macron, pledging deeper ChinaโEU cooperation and support for sustainable development. Beijing aims to counterbalance U.S. influence. ๐๐ค
๐ช Crypto Law: The U.S. Senate advanced the GENIUS Act stablecoin bill (68โ30 vote). It could pass next week. All stablecoins would be backed by U.S. Treasuries โ a move backed by the Trump admin to reinforce the dollar. ๐๏ธ๐ต
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