Morning Juice – Europe Session Prep

Good Morning  Traders.
It is Tuesday the 8th of July. Here is what to look out for today.

Sentiment

Australia’s central bank stunned investors and analysts by holding interest rates unchanged on Tuesday, signalling a wait-and-see attitude to policy as US trade proposals exacerbate global uncertainty.

Trump issued the first of a series of anticipated letters threatening to impose higher tariff rates on important trading partners, but indicated that he was still open to further negotiations and postponed greater tariffs until at least August 1st.

Japanese Finance Minister Kato said he has no plans to undertake currency-specific conversations with US Treasury Secretary Bessent in the near future.

South Korea said it will change its laws and regulations to meet US demand for lower non-tariff barriers after Trump delivered a letter to the Asian ally setting a new August deadline to apply 25% penalties.

The EU hopes to reach a preliminary trade agreement with the US this week, allowing it to lock in a 10% tariff rate beyond the August 1st deadline while they negotiate a permanent arrangement. Bulgaria is expected to cross the final hurdle to becoming the Eurozone’s 21st member next year, with EU finance ministers meeting Tuesday to approve its bid.