China Imports YoY

China Balance of Trade

China Exports YoY

Japan Industrial Production MoM Final

Gold prices rose to around $3,360 per ounce on Monday, marking a fourth consecutive session of gains, as President Donald Trump’s announcement of new tariffs drove investors toward the safety of bullion. In letters to the EU and Mexico, Trump set a 30% tariff for both and referred to their respective trade deficits with the US as a “major threat” to national security. This follows a broader set of tariff hikes unveiled last week, targeting more than 20 countries—including Japan, South Korea, Canada, and Brazil—as well as a 50% duty on copper imports. The new measures are set to take effect on August 1. Meanwhile, investors are closely watching a series of key US economic reports this week—including CPI, PPI, industrial production, and retail sales—for clearer signals on the Federal Reserve’s next interest rate decision.

Gold Edges Up as Trump Imposes New Tariffs

The benchmark KOSPI rose 0.38% to around 3,187 on Monday, recouping losses from the previous session and reaching multi-year highs, driven by gains in auto and financial firms. Market sentiment showed a modest recovery despite President Trump’s announcement of 30% tariffs on imports from the European Union and Mexico, set to take effect on August 1. On the domestic front, investor confidence was further supported by the completion of President Lee Jae-myung’s cabinet appointments, reinforcing expectations for policy clarity and increased fiscal support under the new administration. Leading gains among major stocks were Hyundai Motor (2.16%), SK Hynix (1.78%), KB Financial Group (0.85%), and Kia Corporation (0.10%).

South Korea Shares Rebound on Sector Gains

The New Zealand dollar fell to around $0.599 on Monday, approaching a three-week low and extending losses from the previous session, as sentiment weakened on fresh US tariff threats that reignited global trade war fears. President Trump announced a 30% tariff on EU and Mexican goods starting August 1 and warned of further levies on other nations while urging trade partners to resume talks. Domestically, the Reserve Bank held its cash rate at 3.25% last week, as expected, but signaled openness to a rate cut in August if conditions warrant. Markets are pricing in a 65% chance of a 25bps cut next month, with nearly even odds of a further reduction to 2.75%. The dovish tone follows persistently soft data, including continued contraction in New Zealand’s services sector in June amid weak consumer confidence, high living costs, and ongoing uncertainty. Traders also await Chinese trade data for clues on the impact of US tariffs and potential front-loading, given strong NZ-China trade ties.

Kiwi Dollar Slips Toward 3-Week Low

The Japanese yen appreciated toward 147 per dollar on Monday, recouping some losses from last week as investors responded to renewed global trade concerns. The move followed President Donald Trump’s announcement of a 30% tariff on imports from the European Union and Mexico, set to take effect on August 1. In response, EU and Mexican leaders signaled their intent to continue negotiations with the Trump administration this month in hopes of securing a lower tariff rate. The EU is also reportedly expanding talks with other nations impacted by the tariffs, including Canada and Japan, potentially exploring coordinated actions. On the domestic front, Japan’s core machinery orders fell 0.6% month-over-month to ¥913.5 billion in May. While still in negative territory, the figure marked a notable improvement from April’s sharp 9.1% drop and came in better than the expected 1.5% decline.

Trending Symbols And Events

Most latest news, events and ideas for smart decisions

Latest News