Market Overview - The US dollar index is expected to slightly decline this week, having dropped over 10% in the first half of the year, marking its worst performance since 1973 [1] - Spot gold has risen significantly, gaining over $100 per ounce, driven by a weaker dollar, increased expectations for Fed rate cuts, trade negotiation uncertainties, and concerns over fiscal risks from the "Big and Beautiful" plan [1] - The euro has appreciated nearly 14% this year, reaching a high of 1.1830 this week, as investors seek safety in European assets amid US policy fluctuations [1] Economic and Policy Developments - Goldman Sachs has moved its expectation for the Fed to restart rate cuts from December to September, predicting three consecutive cuts totaling 75 basis points [5] - Morgan Stanley reports that US tariff revenues are annualized at $327 billion, which is detrimental to economic growth, advising investors to favor US Treasuries and short the dollar [5] - The US non-farm payroll data showed an increase of 147,000 jobs in June, with the unemployment rate unexpectedly dropping to 4.1%, leading to reduced bets on a July rate cut [6] Trade and Tariff Updates - President Trump announced unilateral tariffs ranging from 10% to 70% on trade partners, effective August 1, which is higher than previously proposed rates [8] - The US has reached a trade agreement with Vietnam, allowing US goods to enter Vietnam at zero tariffs, while imposing a 20% tariff on Vietnamese exports to the US [10] Legislative Actions - The US House of Representatives passed the "Big and Beautiful" tax and spending bill, which is approximately $3.4 trillion in size, with supporters claiming it will benefit all income levels through tax cuts [11] - The bill is criticized by Democrats as "robbing the poor to pay the rich," with projected costs exceeding $4.5 trillion over the next decade [11] Corporate Developments - Tesla reported a 13.5% year-over-year decline in Q2 vehicle deliveries, totaling 384,122 units, yet its stock surged nearly 5%, adding $48.1 billion to its market cap due to better-than-expected performance [17] - Robinhood, Bybit, and Kraken have launched stock tokenization services, allowing 24/7 trading of US stocks, marking a significant shift in the trading landscape [18][19] AI and Talent Acquisition - Apple is considering using technology from Anthropic or OpenAI for its new Siri version, indicating a potential shift from its in-house AI development [20] - Meta has hired at least eight key researchers from OpenAI, reflecting a competitive talent acquisition strategy in the AI sector [21]

Core Viewpoint - Indian trade officials emphasize that negotiations should not be time-bound and must prioritize India's interests [1] Group 1 - The focus of negotiations is on ensuring that India's benefits are at the forefront [1] - Trade discussions are framed as a continuous process rather than a deadline-driven endeavor [1]

印度贸易官员：与美国的贸易谈判正在进行中，印度代表团已返回。 ...

Core Viewpoint - India’s Trade Minister emphasizes that India consistently prioritizes its interests in trade negotiations [1] Group 1 - The Indian government is committed to ensuring that its trade policies reflect national interests [1] - Trade negotiations are seen as a platform for India to assert its economic priorities [1] - The minister's statements indicate a strategic approach to international trade relations [1]

Group 1 - Swiss bank analysts predict at least one more interest rate cut in the Eurozone this year due to uncertainties in trade negotiations and economic growth risks [1] - Societe Generale strategists expect the 10-year German government bond yield to remain in the range of 2.40%-2.80% by the end of the year, with an anticipated steepening of the yield curve [1] - Monex Europe analysts warn that the British pound faces further depreciation risks as the market has not fully absorbed the fiscal risks associated with the UK [3] Group 2 - Australian economists highlight that the current US tariff policy poses a significant threat to global economic growth, with the average tariff rate rising to 20% from 3% earlier this year [2] - BlackRock maintains an optimistic outlook, suggesting that the US policy environment is gradually becoming favorable for risk assets, particularly equities and credit bonds [2] - Moody's indicates that Japan's potential large-scale tax cuts due to election pressures could negatively impact its credit rating, depending on the extent and duration of the cuts [3]

泰国财长：泰国希望与美国的贸易谈判达成"双赢"。 ...

泰国与美国的贸易谈判尚未结束。 泰国将根据美国的反馈来修改关税提案。 泰国财政部长Pichai：与美国政府的贸易谈判"顺利"。 ...

泰国财长：泰国与美国的贸易谈判尚未结束。 ...

泰国财长：贸易谈判有助于增强美国的信心，我们与美国政府的贸易谈判"进行得很顺利"。 ...

法国工业部长：在与美国的贸易谈判中，我们要坚定立场。 ...