Trump Delays Tariff Truce to 1 August

President Donald Trump has decided to postpone the tariff truce from 9 July to 1 August, while already imposing levies on key countries such as Japan and South Korea.

According to his team, the delay does not signal weakness in negotiations, but rather a pursuit of deals that “benefit the American worker,” in Leavitt’s words.

Musk Launches His Own Political Party

Elon Musk has announced the creation of a new political party, which could distract him further from Tesla, according to Wedbush analysts.

This move may negatively impact TSLA, whose main focus should remain on the transition toward autonomous vehicles.

What’s Happening with the S&P 500 and Nasdaq?

The S&P 500 and Nasdaq indexes showed volatility amid uncertainty over tariffs.

Trump warned that the new US tariffs—effective from 1 August—would affect partners from Japan and South Korea to smaller trading nations, though he hinted at possible exemptions if new proposals emerge.

This initially triggered sharp losses, followed by a partial market rebound.

Gold Under Pressure from Tariffs and Strong Dollar

Gold continues to trade lower following the announcement of new tariffs set for 1 August.

The tariff threat has boosted demand for the US dollar, while investors remain undecided between seeking safety and reacting to stable US Treasury yields.

First Multi-Asset Crypto ETF Approved by the SEC

The SEC has approved the conversion of Grayscale’s Digital Large Cap Fund (GDLC) into the first spot multi-asset crypto ETF in the US.

ETF holdings include:
• Bitcoin (≈ 80%)
• Ethereum
• Ripple (XRP)
• Solana
• Cardano

With over $774 million in assets under management, the fund offers a regulated and diversified gateway into the crypto market.

XRP and Circle Seek Banking Licences

Ripple and Circle have applied for national banking licences from the OCC and access to master accounts at the Federal Reserve (Fed).

If approved, these licences would position them as trusted crypto players, essential for stablecoin adoption in cross-border payments and asset tokenization.

EUR/USD: Tariff Truce Delays Offer Little Relief

Despite the postponement of US tariffs to 1 August, the euro remains weak against the dollar, reflecting investor caution amid ongoing trade uncertainty.

GBP/USD: Pressured by Fiscal and Economic Concerns

The GBP/USD pair has weakened due to economic uncertainty in the UK and ongoing US-UK trade discussions.

Investors continue to favour safe-haven assets like the dollar, weighing down the pound.

YPF Secures Record Energy Financing in Argentina

A consortium led by YPF has secured a $2 billion syndicated loan from international banks to build a major oil pipeline—the largest corporate energy financing deal in Argentina in two decades.

Additional contributions are expected from local markets and private capital.

Dogecoin Rallies Following Musk Support

Dogecoin (DOGE) jumped 5% after Elon Musk voiced his support on X and announced the new America Party.

The coin’s market cap has reached $25.89 billion, with daily trading volume surging 295% to over $1.48 billion—showing a renewed crypto enthusiasm.