US: Trump States 100% Tariff On Semiconductors, But With Caveats
Speaking from the White House, US President Trump stated that semiconductor imports would face a 100...
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AUSSIE 3-YEAR TECHS: (U5) Holds Off Lower Levels
- RES 3: 97.190 - High May 5 2023
- RES 2: 96.932 - 76.4% of Mar-Nov ‘23 bear leg
- RES 1: 96.860 - High Apr 07
- PRICE: 96.660 @ 15:17 BST Jul 07
- SUP 1: 95.900 - Low Jan 14
- SUP 2: 95.760 - Low 14 Nov ‘24
- SUP 3: 95.480 - Low Jan 11 2023 and a major support
Aussie 3-yr futures traded weaker into the weekly close, but remain off lower levels for now. The recent strength is again challenging resistance at 96.730, the Sep 17 ‘24 high, leaving 96.860 as the next key level. Instead, a continuation lower would strengthen a bearish theme. This would refocus attention on 95.760, the 14 Nov ‘24 low. Conversely, a reversal higher would refocus attention on 96.860, the Apr 7 high.
ASIA: Coming Up In Asia Pac Markets On Tuesday
| 0050BST | 0750HKT | 0950AEST | Japan May BoP Current A/C |
| 0050BST | 0750HKT | 0950AEST | Japan June Bank Lending |
| 0230BST | 0930HKT | 1130AEST | Australia June NAB Business Survey |
| 0435BST | 1135HKT | 1335AEST | Japan 5yr Debt Sale |
| 0530BST | 1230HKT | 1430AEST | RBA Cash Rate Decision |
| 0600BST | 1300HKT | 1500AEST | Japan June Eco Watchers Survey |
| 0630BST | 1330HKT | 1530AEST | RBA Governor's Press Conference |
TARIFFS: Full Set Of 14 (So Far) US Tariff Rates To Be Imposed Aug 1
The latest 6 tariff rates have been announced by President Trump on Truth Social - we've now received all of the total 12 that were expected to be announced this afternoon, in addition to the South Korea and Japan rates that had been announced earlier in the day.
- Reminder that the White House is expected to send more tariff "letters" in the coming days regarding the rates to be set as of August 1, with the major expected "exception" being the EU which Reuters reported earlier is still trying to reach an agreement with the US.
- Bosnia and Herzegovina: 30% tariff (original reciprocal tariff was 36%)
- Indonesia: 32% (original was 32% so no change)
- Bangladesh: 35% (original was 37%)
- Serbia: 35% (original was 37%)
- Cambodia: 36% (original was 49%)
- Thailand: 36% (original was 36% so no change)
To recap from earlier:
- Japan: 25% (original was 24%)
- South Korea: 25% (original was 25% so no change)
- Tunisia: 25% (original was 28%)
- Malaysia: 25% (original was 24%)
- Kazakhstan: 25% (original was 27%)
- South Africa: 30% (original was 31%)
- Laos: 40% (original was 48%)
- Myanmar: 40% (original was 45%)
