5 in 5 with ANZ
5 in 5 with ANZ
Tuesday: EU warns of trade halt with 30% tariff
0:00
-8:33

Tuesday: EU warns of trade halt with 30% tariff

Risk-sensitive currencies such as AUD & NZD fall after EU warns Trump's 30% tariffs would stop trade; China exports & Singapore GDP beat forecasts; Daniel Hynes explains the battery metals slump

Risk-sensitive currencies are down after the EU warned Trump’s 30% tariffs on exports would stop trade across the Atlantic. Elsewhere, China reports better-than-expected exports, while Singapore’s GDP outperforms.

In our deep dive interview, ANZ Senior Commodities Strategist Daniel Hynes explains why metals prices for batteries have slumped so much.

5 things to know in 5 minutes:

  1. The European Union has warned that Donald Trump’s threatened 30% tariffs from August 1 would shut down trans-Atlantic trade, says ANZ Economist Bansi Madhavani.

  2. Bansi says markets will focus tonight on US CPI data for June, with core inflation expected to have risen around 0.3% for the month from May.

  3. China’s exports rose 5.8% in June from May, which was better than expected, says ANZ Asia Economist Vicky Xiao Zhou.

  4. Singapore’s GDP growth of 4.3% in the June quarter from a year ago was also better than expected, ANZ Head of Asia Research Khoon Goh says.

  5. New Zealand’s services sector contracted for a second consecutive month in June, according to the BusinessNZ-BNZ PSI survey. ANZ Economist Matt Galt says it adds to the wider picture of the New Zealand economy stalling over Q2.

Cheers,

Bernard.

PS: Catch you tomorrow with with reaction and analysis on US CPI data.

Share