What You Missed: Key Insights from Last Night’s News
Here is what you should know:
- Russian potential penalties: President Donald Trump expressed frustration and shortened Russia’s timeline from initially 50 days to about 10-12 days from July 28, with the purpose of reaching a truce with Ukraine or Russia will face a potential economic—a.k.a. Secondary sanctions, possibly on oil again.
- China: The US Treasury spokesperson announced that bilateral discussions with China concluded for the day, with negotiations set to resume on Tuesday. This came after an extension of 90 days tariffs.
- EU: Meanwhile, the US and EU also proceed with a very positive outlook, with US Commerce Secretary Lutnick confirming that the European Union will face a 15% tariff on most goods, with exemptions for select minor items.
→ So as long as the trade agreement remains in place, the gold price will likely continue downward.
- President Trump issued strong warnings regarding Iran’s nuclear activities, declaring that any resumption of its nuclear program would face swift and decisive action. He also noted that Iran has been sending “hostile signals,” raising concerns about regional stability.
Other than that, look forward to tonight’s US job data—JOLTs Job openings and CB Consumer confidence, which both will offer insights regarding the labor market conditions and consumer sentiment.
***pay extra attention to the trade agreement between the US and China tonight.***
