Daily Market Report
➢ Gold Nears $3,400: XAU/USD tests the key psychological resistance at $3,400 as safe-haven
demand increases amid stalled EU-US trade talks.
➢ Tariff Deadline Looms: With no progress in negotiations, President Trump threatens a 30% tariff
on EU imports starting August 1, intensifying global trade tensions.
➢ EU Retaliation Plans: Brussels prepares retaliatory tariffs on up to €72 billion worth of US exports,
including cars, whiskey, digital services, and aircraft.
➢ USD Weakens: The US Dollar Index (DXY) drops toward 98.00 as tariff threats and Fed-related
political pressure weigh on sentiment.
➢ Fed Under Fire: Fed Chair Jerome Powell faces DOJ referral over alleged perjury, raising concerns
about the central bank’s independence and increasing market jitters.
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