🌅 Morning Update | 07.07.2025 💵 Dollar Gains on Tariff Threats The greenback is strengthening after President Trump threatened a 10% tariff on countries supporting BRICS policies that go against US interests. 📃 Letters confirming the tariffs or outlining potential agreements will be sent today at 12:00 p.m. ET (6:00 p.m. CEST). 🛢️ Oil Slips, But Rebounds Crude prices initially fell over 1.4% at Sunday’s Globex open but have since pared losses to just 0.3%. The surprise? OPEC+ is boosting production by +548K barrels/day — well above the +411K expected. 🇳🇿 NZD Under Pressure New Zealand’s NZIER “shadow council” advised the RBNZ to keep interest rates on hold this week due to inflation risks. Despite this, the New Zealand dollar is one of the weakest major currencies today. 🇨🇳 China Hits Back Beijing is restricting EU medical equipment purchases in retaliation for recent tariff moves — signalling deepening trade tensions. 💴 Yen Slides on Wage Shock Japan’s real wages dropped 2.9% YoY in May — the sharpest decline in nearly two years and the fifth consecutive monthly fall. This dims the outlook for BoJ rate hikes. 📉 Metals Retreat as Stocks Rally Optimism around extended trade talks is lifting global stock markets — but pressuring safe havens. Gold is down 0.8%, silver has slipped 1.0%. 📈 Stay ahead of the markets with NordFX — your edge in a world of fast-moving news. 🌍