• The European Union is preparing more intense action and potential co-ordination with other nations, like Canada and Japan, damaged by President Donald Trump’s new tariff threats. This move coincides with ongoing EU-US trade talks which remain stuck on key matters like auto and agricultural tariffs.

• China ended the first half of the year on a record trade surplus of approximately $586 billion as exports steadied, particularly by compensating for a staggering 16.1% drop in shipments to the US through raising sales to Southeast Asian nations.

• Among other significant economic stories, Japan’s Bank of Japan disposed of its final holdings of shares that it inherited from crisis-era under-siege banks, allowing the market to concentrate on its significantly larger holding of exchange-traded funds.

• In parallel, spot silver hit its highest level since 2011, demonstrating heightened market tightness and continued precious metal inflows. China’s market regulator also sanctioned Synopsys’ acquisition of Ansys on a conditional basis.