Global markets are jittery as President Trump intensifies trade negotiations, announcing plans to send formal letters to trading partners within two weeks outlining unilateral tariffs ahead of the July 9 deadline, though Treasury Secretary Scott Bessent suggests a possible extension of the current tariff pause for countries negotiating in good faith.
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NZD/USD catches minor bids above 0.6000 in Wednesday's Asian trading, helped by the Reserve Bank of New Zealand's (RBNZ) expected interest rate-on hold decision following the July meeting. The Kiwi central bank opted to stand pat amid heightened global uncertainty over Trump's protectionism.

AUD/USD regains traction above 0.6500 after mixed Chinese inflation data
AUD/USD regains traction above 0.6500 early Wednesday, despite the mixed Chinese inflation data. The pair looks to resume the RBA's surprise on-hold decision-led uptick while Trump's planned tariffs on Copper could act as a headwind for the resources-linked Aussie. All eyes remain on trade talks and Fed Minutes.

Gold price consolidates around $3,300; looks to FOMC minutes for fresh impetus
The gold price holds steady above the $3,300 mark, albeit remaining close to a one-week low touched on Tuesday amid bets that threats to inflation from tariffs could force the Fed to hold off cutting interest rates. This acts as a tailwind for the USD and seems to undermine demand for the non-yielding yellow metal.

Cronos surges 20% on inclusion in Trump Media's Blue Chip ETF
Crypto.com's native token Cronos saw double-digit gains on Tuesday following Trump Media and Technology Group's filing with the Securities & Exchange Commission to launch a Blue Chip exchange-traded fund.

New US tariffs target Asia, but some countries stand to gain
President Trump’s new tariffs are higher than expected for most Asian economies. Moreover, most countries will face additional tariff rates on transshipments. The new announcements are silent on Singapore, India and the Philippines, which might stand to benefit from tariff concessions if negotiations progress favourably.

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