Trusted by over 15 Million Traders
The Most Awarded Broker
for a Reason
CATEGORIES
News
- 【XM Market Review】--XRP/USD Forecast: Can Ripple Continue to Find Buyers?
- 【XM Market Review】--USD/TRY Forecast: Lira Weakens vs USD
- 【XM Market Review】--AUD/USD Forecast: Australian Dollar Continues to Bounce Arou
- 【XM Forex】--BTC/USD Forecast: Stalls in Consolidation
- 【XM Forex】--USD/MXN Forecast: Nears Key 21 Resistance
market news
Trump announces about 100% tariffs on chips, U.S., Russia and Ukraine leaders hold tripartite talks as early as next week
Wonderful introduction:
A person's happiness may be false, and a group of people's happiness cannot tell whether it is true or false. They squandered their youth and wished they could burn it all, and that posture was like a carnival before the end of the world.
Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange]: Trump announced that he would impose about 100% tariffs on chips, and the leaders of the United States, Russia and Ukraine will hold tripartite talks as early as next week." Hope it will be helpful to you! The original content is as follows:
On August 7, spot gold trading was around $3,370/ounce, gold prices fell on Wednesday, investors took profit after hitting their highest in nearly two weeks on the previous trading day. At the same time, the market focus turned to the upcoming nomination of the Federal Reserve Chairman of US President Trump; U.S. crude oil trading was around $64.40/barrel, and oil prices fell to an eight-week low on Wednesday. Sources said Trump planned to meet Putin and Zelensky as early as next week, and Trump announced that he would impose about 100% tariffs on chips.
Disclaimers continue to pay attention to the impact of last Friday’s employment report as there were no important U.S. economic data released on Wednesday. U.S. job growth in July was lower than expected, while non-farm job growth in the first two months was significantly revised down by 258,000, indicating a sharp deterioration in labor market conditions.
Marc Chandler, chief market strategist at Bannockburn GlobalForex, New York, said: "We have ushered in the first dollar rebound in Trump's second term, and many people think that there may be some support, but I think last Friday's employment data stifled it, and people once again speculated that it will cut interest rates not only in September, but again at the end of the year, which puts a cap on the dollar's rebound. "
Fed funds rate futures traders are currently priced at 95% of the possibility of the Fed's 25 basis points cut at September meeting, up from 48% a week ago. Traders believe a total of 62 basis points will be cut this year.
Minneapolis Federal Reserve Bank Chairman Neel Kashkari said Wednesday, despite whether tariffs will continue.The continued push up inflation is still unclear, but the Fed may need to cut interest rates in the near future to cope with the slowdown in the U.S. economy.
Trump issued an executive order on Wednesday to impose an additional 25% tariff on goods from India, saying the country directly or indirectly imports of Russian oil, an additional tariff on the basis of the already announced 25% tariff.
Asian Market
According to the latest foreign trade data released by the Australian Bureau of Statistics on Thursday, Australia's trade surplus in June expanded to 5,365 million, eouu.cnpared with an expected 3,250 million, with a previous value of 1,604 million (revised by the previous value of 2,238 million).
European market
The UK construction industry deteriorated sharply in July, with the PMI plummeting from 48.8 to 44.3, the lowest level since May 2020, well below the expected 49.2.
According to Standard & Poor Global, UK eouu.cnpanies say that in the face of domestic and international uncertainty, UK eouu.cnpanies lack bidding opportunities and customers are increasingly hesitant. The data reinforces broader concerns about the UK's economic momentum in the second half of the year.
Eurozone retail sales in June increased by 0.3% month-on-month, lower than expected 0.4%. Food, non-food and fuel categories all saw a slight increase. In addition to the pessimistic tone, German factory orders unexpectedly fell -1.0% in June, down from the expected quarter-on-month increase of 1.0%.
U.S. Market
San Fed Chairman Mary Daly said overnight that she expected the central bank to need to cut interest rates "in the eouu.cning months" citing gradual cooling of the economy and the continued downward risks of the labor market. “I think further slowdowns are undesirable,” Daly warned, adding that the labor market tends to fall “rapid and severely” once it loses momentum.
Daly also downplayed the impact of U.S. tariffs on inflation, saying they only pose a short-term threat. She noted that excluding the impact of tariffs, inflation has been "gradually declining" and should continue to ease given the slowdown in restrictive policies and demand.
In an overnight panel discussion, Fed governor Lisa Cook described the weaker-than-expected jobs report in July as "concerning", noting that the pattern of job data downgrades "is a typical turning point to some extent."
Cook warns that uncertainty is now like taxing businesses, with executives spending more time managing ambiguity than making forward-looking decisions. “It’s a meaningless loss,” she said.
Boston Fed Chairman Susan Collins supports this view, saying the burden of uncertainty is the "priority consideration" for businesses in various industries. She noted that its impact was beyond the scope of capital expenditures and that many businesses are now hesitant to adjust their pricing strategies due to lack of visibility. “There is still a need to wait and see,” Collins said.
The joint emphasis between the two Federal Reserve officials stressed that economic ambiguity is increasingly seen as a constraint on employment and inflation dynamics. Although CookNeither Collins provided direct policy guidance, but their eouu.cnments would reinforce expectations that the Fed would be more open to loose policies, especially if labor and business activities remain sluggish in the fall.
Minneapolis Fed Chairman Neil Kashkali reiterated his view that two rate cuts in 2025 remain a reasonable basic situation, telling eouu.cnBC today, "The economy is slowing down - which means that in the short term, it may become appropriate to start adjusting the federal funds rate. The eouu.cnment is consistent with growing expectations for a September rate cut, especially after last week's weak employment data.
However, Kashkali's remarks are roughly consistent with his position in June, when he wrote in an article that tariff impacts may be milder than people fear because of business adjustments and exemptions. At the time, he believed that these offset forces would gradually ease inflation and support temperate policy adjustments
In both June and today's eouu.cnments, Kashkali said he is more patient, but also prepared. Unless there is any accident, his basic prediction is still to assume action in September and then another action later this year.
The above content is all about "[XM Forex]: Trump announced about 100% tariffs on chips, and the leaders of the United States, Russia and Ukraine will hold tripartite talks as soon as next week". It was carefully eouu.cnpiled and edited by the editor of XM Forex, hoping to help your transactions! Thanks for your support!
Only the strong understand the struggle; the weak are not qualified to fail, but are born to be conquered. Step up to learn the next article!
Disclaimers: XM Group only provides execution services and access permissions for online trading platforms, and allows individuals to view and/or use the website or the content provided on the website, but has no intention of making any changes or extensions, nor will it change or extend its services and access permissions. All access and usage permissions will be subject to the following terms and conditions: (i) Terms and conditions; (ii) Risk warning; And (iii) a complete disclaimer. Please note that all information provided on the website is for general informational purposes only. In addition, the content of all XM online trading platforms does not constitute, and cannot be used for any unauthorized financial market trading invitations and/or invitations. Financial market transactions pose significant risks to your investment capital.
All materials published on online trading platforms are only intended for educational/informational purposes and do not include or should be considered for financial, investment tax, or trading related consulting and advice, or transaction price records, or any financial product or non invitation related trading offers or invitations.
All content provided by XM and third-party suppliers on this website, including opinions, news, research, analysis, prices, other information, and third-party website links, remains unchanged and is provided as general market commentary rather than investment advice. All materials published on online trading platforms are only for educational/informational purposes and do not include or should be considered as applicable to financial, investment tax, or trading related advice and recommendations, or transaction price records, or any financial product or non invitation related financial offers or invitations. Please ensure that you have read and fully understood the information on XM's non independent investment research tips and risk warnings. For more details, please click here