Tariff delay eases pressure, gold falls
The US postponed a 25% tariff hike on Canada and Mexico for 30 days after securing agreements on border security and drug enforcement

EUR/USD weakened near 1.0300
WTI trading around $72.00
Key US data releases, including JOLTS
The US delayed a planned 25% tariff hike on Canada and Mexico for 30 days after securing agreements on border security and drug enforcement. Canada committed to tackling organized crime, while Mexico deployed 10,000 National Guard members along its northern border. The move provided some relief to markets, though broader sentiment remained cautious.
China renewed pressure on global markets as its 10% retaliatory tariffs on US imports took effect, targeting coal, LNG, crude oil, and other goods. Further measures included export controls on critical metals such as tungsten, tellurium, ruthenium, and molybdenum, an antitrust probe into Google, and the addition of PVH Corp and Illumina to its unreliable entities list.
Currencies
EUR/USD traded near 1.0300 in early European hours, weakening as investors moved toward the US dollar in response to China’s retaliation. Market participants remained cautious, with growing concerns over potential US tariffs on the Eurozone.
Commodities
- Oil: WTI crude extended its decline for a second straight session, trading around $72.00. The pullback kept prices near a one-month low. Risk aversion and a stronger US dollar added to the downside pressure.
- Gold: The gold price dropped from its record high reached on Monday. Rising US bond yields and a modest dollar rebound capped further upside momentum.
Looking Ahead
Markets are turning their attention to upcoming US data, including JOLTS job openings and factory orders, which could offer insights into economic resilience amid ongoing trade tensions. Investors will also be watching Fed speakers Bostic and Daly, Spanish employment data, and post-market earnings from Alphabet and AMD.