🌅 Morning Update – 05.05.2025 📈 Wall Street closed last week on a high after a strong NFP report and hints at renewed 🇺🇸🤝🇨🇳 trade talks. Top performer: Russell 2000 +2.3%, followed by Nasdaq +1.5%, S&P 500 +1.5%, and Dow Jones +1.4%. 🎬 Donald Trump wants to slap a 100% tariff on non-U.S. films, claiming "Hollywood is dying". He also denied rumours of firing Fed Chair Jerome Powell or running for a third term. 🎏 Trading is subdued in Asia today due to Children’s Day in 🇯🇵 Japan and 🇰🇷 South Korea, and Labour Day in 🇨🇳 China. Still, markets show cautious optimism: 📊 MSCI Asia Pacific ex Japan: +1% 📈 India’s Nifty 50 leads with +0.5% 🗳️ In Australia, PM Anthony Albanese and the Labor Party have won the elections 🟥, forming a majority government. Market reaction? Already priced in – ASX 200 is down 0.9%. 📉 Final Services PMI in 🇦🇺 Australia missed slightly: 51 (vs 51.4 forecast). 🛢️ Oil prices drop ~3% as OPEC+ confirms a second production hike in June (411K bpd). Combined with Trump’s tariff moves, Brent and WTI fall below $60/barrel. 💵 Forex: USD under pressure again – 🔻 USD Index: -0.4% 🔼 AUDUSD: +0.75% 🔼 NZDUSD: +0.7% 🔽 USDJPY: -0.67% 🔼 EURUSD: +0.4% → 1.1346 ✨ Precious metals shine: 🟡 Gold: +0.6% → $3,261/oz ⚪ Silver: +0.9% → $32.30/oz 🪙 Crypto in the red: 🔻 Bitcoin -1.25% → $94,535 🔻 Ethereum -1.62% → $1,806 🇬🇧 UK markets are closed today for a bank holiday.