Markets started the week with rising caution as upcoming U.S. tariffs and central bank uncertainty kept investors on edge. EUR/USD slipped to 1.1620, pressured by a stronger dollar and renewed trade tensions ahead of the August 1 deadline, though ongoing U.S.-EU talks still hint at a possible compromise. The Japanese yen strengthened to 148.5, buoyed by easing domestic political tensions, yet U.S.-Japan trade negotiations remain a source of volatility.

Gold hovered around $3,350, driven by demand, though solid U.S. data capped further upside. Silver held firm above $38, supported by inflation concerns and geopolitical unease.

Bitcoin pulled back slightly to $117,800 after setting a new high at $123,218. If support at $116,000 breaks, prices could slide toward the 50-day EMA near $110,297.

The Nasdaq paused after five straight record closes, with AI-driven gains from stocks like Nvidia and AMD offering support, even as tariff fears and upcoming earnings reports stirred caution. Meanwhile, U.S. 10-year yields dipped to 4.44% amid cooling inflation expectations, while yields in Japan and China remained subdued.

China’s offshore yuan held steady around 7.17 after the PBoC left key lending rates unchanged, underlining weak domestic demand and persistent external pressures. Brent crude rebounded to $69.4 following fresh EU sanctions on Russian oil, but upside remained limited as Trump’s tariff threats cast a shadow over global demand.

Check out today's market analysis for more insights.