Core Viewpoint - The trade agreements between the US and Europe, as well as between the US and Japan, are expected to reduce the uncertainty surrounding US trade policies, which in turn may alleviate downward pressure on the Japanese and global economies [1] Group 1 - Japan's Chief Cabinet Secretary, Hiroshi Matsuno, expressed confidence that the reduction in uncertainty will mitigate the risks posed by US trade policies to Japan's economy [1] - The agreements are seen as a positive development for global economic stability, potentially leading to improved trade relations [1]

Group 1: Gold Market Analysis - Gold prices have risen for the second consecutive trading day due to trade concerns stemming from U.S. tariff escalations and a weakened dollar, but remain within a short-term consolidation range [3] - The key resistance level for gold is around $3,370; a breakout above this level could target $3,400 and potentially $3,435 [3] - If gold prices fall to the $3,320 area or break below the critical support at $3,283, it may trigger technical selling pressure, potentially leading to a decline towards the June low of $3,248 [3] - The market sentiment is cautious due to mixed expectations regarding Federal Reserve interest rate cuts and a rebound in U.S. consumer confidence, resulting in an unclear short-term direction for gold [3] Group 2: Oil Market Analysis - The oil market is experiencing a tug-of-war due to new European sanctions and increased supply from Middle Eastern oil-producing countries, leading to limited price increases for Brent and WTI crude [6] - WTI crude is currently trading within a narrow range between the 20-day and 50-day moving averages, indicating a stalemate between bullish and bearish forces [6] - Technical indicators show that if oil prices break above $68, they may test resistance at $70.20; conversely, a drop below $65.30 could lead to a decline towards the $64.00 area [8] - The oil market is in a consolidation phase, reflecting high uncertainty regarding supply and demand outlooks, influenced by geopolitical pressures and upcoming tariffs [8]

Group 1 - Protesters in Peru have ended their blockade of copper transport routes, leading to a significant increase in copper inventories [1] - The uncertainty surrounding U.S. trade policies is impacting the copper market, raising questions about its future direction [1] Group 2 - The recent developments in Peru may influence global copper supply dynamics, potentially affecting prices and market stability [1] - Increased copper inventories could lead to a surplus in the market, which may further complicate pricing strategies for industry players [1]

Group 1 - The core viewpoint of the article highlights the decline in futures prices for synthetic rubber on the Shanghai Futures Exchange, alongside a drop in Japanese rubber futures, driven by slowing automobile sales and uncertainties surrounding U.S. trade policies [1] Group 2 - The synthetic rubber futures on the Shanghai Futures Exchange are leading the decline in the futures market [1] - Japanese rubber futures are also experiencing a downturn [1] - The future direction of the rubber market is uncertain due to the combination of slowing automobile sales and the impact of U.S. trade policy uncertainties [1]

Group 1 - The Hong Kong IPO market recorded its strongest performance in the first half of 2025 since 2021, with total fundraising increasing sevenfold compared to the same period in 2024, making it the top global IPO fundraising market [1] - The total number of IPO applications on the Hong Kong main board has reached over 200, a historical high, indicating a sustained strong momentum expected to continue into the second half of 2025 [1] - In the first half of 2025, the global IPO market raised $60.9 billion with 544 listings, a 5% increase in fundraising compared to the previous year, although the number of listings decreased by 6% [1] Group 2 - A-share market activities remained stable in the first half of 2025, with 61 listings and a total fundraising amount of 53.7 billion RMB, despite a 5% decrease in fundraising compared to 2024 [1] - The introduction of a new reform by Chinese regulatory authorities allows companies listed in Hong Kong to also list on the Shenzhen Stock Exchange, promoting the H+A listing model [2] - The Shanghai Stock Exchange announced the establishment of a growth tier on the Sci-Tech Innovation Board to support high-growth potential but unprofitable tech companies, marking an important milestone for the A-share IPO market [2]

Core Insights - The uncertainty surrounding U.S. trade policies remains extremely high, impacting global economic conditions [1] Group 1 - The German Ministry of Economic Affairs highlights ongoing concerns regarding the unpredictability of U.S. trade policies [1] - This uncertainty is likely to affect international trade dynamics and economic stability [1] - The report suggests that businesses may need to prepare for potential shifts in trade regulations and tariffs [1]

Core Viewpoint - The comments from former Bank of Japan member Takako Sato suggest that U.S. tariffs under President Trump may have halted the interest rate hike cycle of the Bank of Japan, with expectations of a decline in exports impacting the likelihood of further rate increases [1] Group 1: Economic Impact - U.S. trade policy uncertainty is causing significant disruption to the global economy, which may adversely affect Japan's exports, output, wage growth, and consumption [1] - The automotive industry plays a crucial role in the Japanese economy, making U.S. tariffs on automobiles particularly damaging [1] Group 2: Future Outlook - The real test for the Japanese economy may come in 2026, as the effects of U.S. tariffs are expected to manifest 6 to 12 months after implementation [1] - The Bank of Japan may be unable to raise interest rates for a considerable period [1]

Group 1 - The U.S. labor market added 139,000 jobs in May, with the unemployment rate remaining steady at 4.2% for three consecutive months, which is better than market expectations but below the 12-month average of 149,000 jobs per month [1][2] - The U.S. Labor Department significantly revised down the employment data for March and April, reducing the combined job growth for these two months by 95,000 [1] - Employment growth in May was primarily driven by the healthcare, leisure and hospitality, and social assistance sectors, which collectively added 126,000 jobs [1] Group 2 - The manufacturing and retail sectors, which are closely tied to trade, showed signs of weakness, with manufacturing losing 8,000 jobs and retail shedding 6,500 jobs [1] - The average hourly wage for non-farm employees in May was $36.24, reflecting a month-over-month increase of 0.4% and a year-over-year increase of 3.9%, indicating persistent inflationary pressures [2] - The cautious sentiment surrounding the May employment data reflects businesses' uncertainty regarding trade policies and economic growth [2]

Group 1 - The core viewpoint of the articles highlights the criticism of Federal Reserve Chairman Jerome Powell by U.S. Vice President Vance, indicating a lack of effective response to the current economic challenges [1][6][7] - Recent economic data from the U.S. shows a contraction in GDP by 0.3% in Q1, marking the first negative growth since Q1 2022, contrasting sharply with previous growth rates of 3.1% and 2.4% in Q3 and Q4 of last year respectively [3][4] - The uncertainty in international trade policies, particularly due to tariffs implemented during the Trump administration, has led to a significant decline in consumer confidence, with the index dropping from 57 in March to 50.8, the lowest in 12 years [4][6] Group 2 - The Federal Reserve's recent decision to maintain the federal funds rate target range at 4.25% to 4.50% for the third consecutive time reflects ongoing concerns about inflation and economic uncertainty [6][7] - The "Beige Book" report from the Federal Reserve indicates minimal changes in economic activity, with the term "tariffs" mentioned 107 times, highlighting the pervasive uncertainty affecting business decisions [4][6] - The combination of weak economic growth, persistent inflation, and trade policy uncertainties suggests that the current policy measures may not be achieving the desired outcomes, raising questions about future adjustments by the Federal Reserve [7]