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6:41 AM · 1 July 2025

Morning Wrap (01.07.2025)

Sentiment on Asian markets remains positive following yesterday's gains on Wall Street. Markets in China, Australia, and New Zealand are gaining value, while the Japanese Nikkei 225 index is down 1%.

Before the opening of the cash session in Europe, the EU50 contract is up 0.12%.

Today, we saw good Caixin PMI data for industry in China, which unexpectedly broke above the 50 barrier, signaling growth in this sector. Caixin PMI for June 2025 for industry 50.4 (forecast 49.0, previously 48.3).

The dispute between Donald Trump and Elon Musk continues. Trump says that perhaps DOGE should “take a close look” at Elon and the subsidies his companies receive. Tesla shares are down 6% ahead of the Wall Street opening.

According to the Financial Times, US officials working on the tariff changes are reportedly seeking to conclude more modest trade agreements before the July 9 deadline. More modest and narrower trade agreements are in stark contrast to the 90 agreements in 90 days that they had been aiming for.

The European Central Bank's annual forum in Sintra is still ongoing. Today, we will hear statements from Andrew Bailey (BoE), Christine Lagarde (ECB), Jerome Powell (FED) and Kazuo Ueda (BoJ). 3:30 p.m CEST.

The USD/JPY fell below 143.60 after the Bank of Japan released its Tankan report, which showed higher-than-expected activity in the industrial sector (13 points vs. 10 points expected).

The US dollar lost value at the beginning of the session, but has since rebounded slightly. The EUR/USD exchange rate rose, briefly reaching above 1.1800.

This morning is particularly favorable for gold prices, which are up 0.82% to $3,329 per ounce. GOLD is back above the 50-day EMA.

The macro calendar will focus today on PMI data for industry from the world's major economies. At 11:00 a.m., we will also see CPI data from the eurozone and JOLTS data from the US (4:00 p.m.). We will also hear the aforementioned numerous speeches by central bankers. All CEST time.

16 October 2025, 5:05 PM

Breaking: crude oil inventories above expectations 📌

16 October 2025, 4:31 PM

Fed officials favor continued monetary easing 🔎

16 October 2025, 3:36 PM

BREAKING: NATGAS declines after EIA data 📌

16 October 2025, 3:28 PM

Stock of the Week - Lam Research Corp (16.10.2025)

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