Economy

Trump's Plan to Impose 50% Tariff on Copper Imports Shakes Global Supply Chains
On July 8, 2025, US President Trump announced at a White - House cabinet meeting that he planned to impose a new 50% tariff on all copper imported into the US, which has attracted widespread attention. The news sent New York copper futures prices soaring, triggering shockwaves in the global metal market.
Economic News
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European Stocks Rally on July 9, STOXX 600 Hits Four-Week High
European equities closed higher on July 9, with the pan-European STOXX 600 rising 0.8% to a four-week peak, led by banks and defense sectors. Italy’s FTMIB surged 1.6% to 2007 levels, fueled by a 4.6% jump in UniCredit (CRDI.MI) to 2011 highs, despite shareholder resistance to its Commerzbank (CBKG.DE) acquisition bid.
Economic News
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Fed Minutes Boost Rate Cut Hopes; Nvidia Briefly Tops $4 Trillion Market Cap
U.S. stocks rallied broadly on Wednesday, July 10, with the tech-heavy Nasdaq hitting a record high. The surge followed the Federal Reserve’s meeting minutes reinforcing expectations of rate cuts this year and Nvidia’s brief ascent to a $4 trillion market valuation.
Economic News
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FTSE 100 Edges Up 0.2% on July 9 as Markets Digest U.S. Tariff Expansion
London’s FTSE 100 inched up 0.2% on July 9, with investors continuing to absorb the impact of U.S. tariff expansions. Advertising giant WPP (WPP.L) plunged 19%—its worst daily drop in over three decades—after slashing profit forecasts due to key client losses and shrinking new business, weighing heavily on the index.
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BOJ Warns of Food Price-Driven Inflation; U.S. Tariffs Could Severely Hurt Japan's GDP
Bank of Japan board member Junko Kotani warned on July 9 that surging prices of rice and other foodstuffs are intensifying inflationary pressures, urging vigilance against "second-round effects" that might lift household inflation expectations. Japan’s consumer inflation remains around 3%, but the BOJ’s weighted median inflation gauge—closely watched by policymakers—still lags below the 2% target. Kotani noted economic uncertainty makes it premature to pinpoint the next rate hike, with food prices a critical variable.
Economic News
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New Zealand's S&P/NZX 50 Falls 0.7% as RBNZ Pauses Rate Cuts
New Zealand’s benchmark S&P/NZX 50 index dropped 0.7% to 12,769 on Wednesday, pulling back from a seven-week high hit the previous day, after the Reserve Bank paused its rate-cutting cycle. The central bank kept the cash rate at 3.25% as expected, citing concerns that current inflation and global trade tensions could fuel price pressures. It had cut rates six times since August 2023, totaling 225 basis points, but signaled further cuts may come if inflation eases as projected in May.
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Canada's S&P/TSX Rises 0.35% as Real Estate Leads, Tariff Impact Muted
Canada’s S&P/TSX Composite Index ended a two-day slide, edging up 0.35% to 26,998.66 on July 9, with real estate stocks leading gains. Markets reacted divergently to Trump’s 50% copper tariff plan (effective as early as late July) and extended trade talks to August 1: the real estate index (.GSPTTRE) rose 0.5% on H&R REIT’s (HR_u.TO) 4.7% surge amid Blackstone acquisition talks.
Economic News
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Canada's June Ivey PMI Rises to 4-Month High; Rental Market Cools Unevenly
Canada’s Ivey PMI climbed to 53.3 in June, a four-month high, signaling accelerating economic activity. However, underlying concerns emerged: the employment sub-index dipped below 50 (49.5), while the price index surged to 70.2, highlighting mounting inflation pressures.
Economic News
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Euro Zone Shows Recovery Signs as Sentix Hits 3-Year High, German Industry Rebounds
The euro zone’s economic outlook brightened in July: the Sentix Investor Confidence Index surged to 4.5 (up from 0.2), a three-year peak and third straight rise. The current conditions sub-index improved to -7.3 (still contracting), while the expectations gauge jumped to 17.0, signaling optimism. Germany’s index rose to -0.4 (highest since February 2022), with its current conditions improving for five months. Analysts warn sustained recovery could limit the ECB’s rate-cut room.
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Japan's Real Wages See Steepest Drop in 20 Months, Straining Consumption Recovery
A core contradiction has emerged in Japan’s economy: inflation-adjusted real wages plummeted 2.9% year-on-year in May (following a -2.0% decline in April), marking the sharpest drop in 20 months and extending a five-month streak of contraction. This was driven by persistent inflation—running at 4% when excluding fresh food but including rent costs—outpacing nominal wage growth, which slowed drastically to 1.0% (to ¥300,000) from 2.0% in April, hitting a 14-month low.
Economic News
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German Industrial Orders Drop More Than Expected, Clouding Euro Zone Recovery
Germany’s industrial orders fell unexpectedly by 1.4% month-on-month in May, far exceeding the market’s projected 0.1% decline and ending a three-month recovery streak. Weak domestic demand emerged as the primary drag: domestic orders plummeted 7.8%, with the computer and electronics sector crashing 17.7%, while electrical equipment and basic metals industries also contracted.
Economic News
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Bitcoin Hits New All-Time High of $118,804.6, Driven by Policy Shifts and Institutional Inflows
Bitcoin surged to a historic peak of $118,804.6 per coin on July 11, marking a 6.83% daily gain and breaking its previous record set in May 2025 . This milestone comes amid a confluence of geopolitical, regulatory, and market-driven factors reshaping the cryptocurrency landscape.
Economic News
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New Zealand Household Savings Deteriorate Further; Housing Market Shows Uneven Recovery
New Zealand’s household savings situation continued to worsen in the first quarter of 2025, with Statistics New Zealand data showing savings falling to -NZ$1.6 billion (a NZ$392 million quarterly decline), marking the third consecutive quarter of negative savings. This was driven by household spending growth (+2.2% to NZ$62.2 billion) outpacing disposable income gains (+1.5% to NZ$60.6 billion).
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