Market Summary - July 10, 2025

Overview

On July 10, 2025, the markets experienced a relatively quiet day with minimal macroeconomic data releases. The only significant report was the U.S. unemployment claims, which came in at 227,000, slightly lower than expectations. This minor surprise did not significantly impact the broader market direction.

Upcoming Economic Data

Looking ahead, traders are anticipating more action on Friday with the release of UK GDP and Canadian jobs data, which are expected to introduce volatility in foreign exchange pairs and equities related to those regions.

Trade Tensions

Attention has shifted back to trade tensions, particularly following Donald Trump's announcement of a 50% tariff on Brazilian goods. While this move may not drastically affect the global economy, it highlights the ongoing risks associated with trade policy.

Market Movements

Despite the lack of significant data, the markets remained relatively stable. European indices continued to show gains, indicating a positive weekly close, while U.S. futures drifted sideways as traders awaited Friday's economic catalysts.

Foreign Exchange Trends

In the foreign exchange market, the Australian dollar and the U.S. dollar showed signs of strength, particularly the latter during the latter part of the European session. Conversely, traditional safe havens like the Swiss franc and Japanese yen experienced weakness.

Commodity Market Insights

Commodities displayed the most notable movements on this day:

• Palladium: Up more than 5%, leading the gains.
• Platinum: Increased by 3.5%.
• Copper: Continued its upward trend, rising by 2.5%, influenced by trade headlines related to industrial economies.
• Gold and Silver: Both metals remained relatively stable, with gold attempting a modest recovery after earlier declines but lacking bullish momentum.
• Oil: Prices faced downward pressure, threatening to close the week in negative territory.

Conclusion

In summary, while the economic calendar was light, the market was recalibrating in response to evolving trade dynamics and commodity flows. Traders are looking forward to the upcoming data releases on Friday for further clarity.