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Due to Independence Day, the US stock market remained closed today.
- Concerns about the future of tariff negotiations led to declines in US index futures. The US500, US100, and US30 each dropped approximately 0.6%.
- European markets also experienced corrective sentiment. The French CAC40 and Italian IT40 performed the worst, losing nearly 0.8%. The German DAX fell by 0.6%, while the Swiss SMI and British FTSE 100 remained near yesterday's closing prices.
- Today's session brought a correction to Polish indices. This pullback follows two strong sessions that were not dampened by the Monetary Policy Council's decision to cut interest rates. Notably, today saw a decline in financial institutions, which had driven the Polish market's gains yesterday.
- European Union negotiators are aiming to extend the suspension of US tariffs if a broader trade agreement with the US isn't reached before the critical July 9 deadline, Bloomberg reported. Talks have yet to yield a breakthrough and are expected to continue until the end of the week.
- India announced that a trade deal with the US must be concluded by July 9 only if the country's interests are met. Otherwise, India will impose additional tariffs on the US.
- In the currency market, the US dollar continued its correction, losing about 0.2% against a basket of currencies. Among the G10 currencies, the Japanese Yen performed best today, gaining approximately 0.3%. The Swedish Krona and Swiss Franc also saw notable gains (+0.2%).
- Gold is regaining ground, rising 0.3% amid broad market uncertainty.
- Meanwhile, natural gas and crude oil prices fell by 0.4% and 1% respectively.
- French industrial production for May unexpectedly showed a 0.5% month-over-month decline (against an expected increase of 0.4%).
- Bitcoin and other "risky" assets are losing value due to a broad market shift towards safe havens, driven by increasing uncertainty surrounding upcoming global tariff changes. The largest cryptocurrency is down 1.9% today.
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