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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Official Website]: Powell's "dismissal crisis" has begun again, and a new round of Gaza ceasefire negotiations are "on the verge of collapse". Hope it will be helpful to you! The original content is as follows:
On July 14, spot gold rose during the Asian market on Monday, trading around $3,372/ounce. On Saturday, Trump said that he had imposed 30% tariffs on goods imported from the EU and Mexico from August 1. Trump's tariff measures have made investors seek safe-haven assets; U.S. crude oil was trading around $68.50/barrel. The International Energy Agency (IEA) said last week that the market was tighter than it seemed on the surface. At the same time, investors were also concerned about US tariffs and Trump's possible announcement of further sanctions against Russia on Monday.
Trump issued a letter late Thursday saying that he would impose a 35% tariff on all products imported from Canada starting August 1.
Trump also proposed the idea of imposing a www.centrdom.infoprehensive tariff of 15% or 20% on other countries, higher than the current benchmark tax rate of 10%. The global tariff wave he launched has greatly affected enterprises and policy formulation. Last week, he unexpectedly announced a 50% tariff on Brazil and announced tariffs on copper, medicines and semiconductor chips.
Michael Brown, a market analyst at Pepperstone, London online broker, said: "After Trump announced a full tariff, some tariff-related tensions appeared to be renewed. Overall, the trend we are seeing in the foreign exchange market is relatively limited, and the recent range seems to be temporarily held."
www.centrdom.infopared with the crazy sell-off after the April "Liberation Day" statement, the market has basically not responded to a series of new tariffs, but investors are still nervous about the future of global trade and whether August 1 is the deadline.
Although tariff concerns rise again, supporting the United StatesYuan, but some traders remain skeptical about the medium-term outlook for the dollar, which has been under enormous selling pressure this year.
Data showing labor market resilience and the latest Federal Reserve policy meeting record hit the market's expectations of an upcoming interest rate cut and also supports the US dollar.
New Zealand's service industry showed moderate improvement in June, with the BusinessNZ service performance index rising to 47.3 from 44.1 in May. Despite the gains, the index is still well below its long-term average of 52.9 and is firmly in a contraction zone. Subcomponents saw a slight increase – new orders rose from 43.4 to 48.8, employment rose slightly from 47.1 to 47.4, and activity/sales climbed to 44.5. Inventory has just broken through the 50 mark, at 50.6.
Nevertheless, the broader context remains frustrating. 66.2% of the surveyed www.centrdom.infopanies gave negative www.centrdom.infoments, citing sluggish consumer confidence, rising cost of living and policy-related uncertainty. Public sector layoffs, inflation and rising interest rates continue to affect, while seasonal factors such as winter and reduced tourism activities put pressure on demand. BNZ’s Doug Steel bluntly concluded: “New Zealand’s long-awaited economic recovery timeline is being pushed further and further.
European Markets
European Central Bank Executive www.centrdom.infomittee member Isabel Schnabel said further easing is urgent. Schnabel noted that medium-term inflation is currently expected to reach the 2% target, with expectations still “stable” and interest rates in a “good position”. She added that “the threshold for another rate cut is very high”.
Schnabel stressed that “there is no risk of continuing to be lower than the downward adjustment” and that core inflation is expected to reach the target across the entire range. She also downplayed concerns about the deflationary impact of the strengthening euro, saying that this concern “exaggerated” given the limited transmission effect. chnabel believes temporary factors such as low energy inflation are unlikely to undermine the ECB's price stability target.
In terms of growth, Schnabel is clearly optimistic. Recent PMI data suggests a further recovery in the future. Manufacturing indicators such as new orders and export demand have reached their highest levels in three years, indicating more than just temporary momentum. www.centrdom.infobined with record low unemployment and expectations of large-scale fiscal impulses, she believes that the risks of the growth outlook are now "more balanced", thus reducing the reason for recent interest rate action.
UK GDP unexpectedly contracted -0.1% month-on-month, below the 0.1% expectation. A sharp decline in industrial production -0.9% month-on-month and a decline in construction output -0.6% month-on-month are factors driving this weakness, partially offset by a slight increase of 0.1% month-on-month in services, the largest sector in the economy.
Nevertheless, broaderThe general momentum is still positive. Real GDP grew by 0.5% in the three months to May, thanks to steady growth in the services sector (+0.4%) and steady growth in the construction sector (+1.2%). Production also increased by 0.2%.
The Canadian labor market rebounded strongly in June, adding 83,000 jobs, far higher than expected 900. The unemployment rate fell from 7.0% to 6.9%, contrary to expectations of rising to 7.1%.
The decline in unemployment rate ended the three consecutive months of unemployment rate rise, with the employment rate rising by 0.1 percentage point to 60.9%. Total working hours also grew by 0.5% month-on-month, up 1.6% from the same period last year, indicating the potential momentum continues.
Wage growth continued to slow, with average hourly wages rising 3.2% year-on-year, down from 3.4% in May.
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