Russia
The U.S. dollar dropped to a two-week low against a basket of major currencies amid changing expectations for Fed rate cuts
Traders are betting on the possibility of a 50-basis-point Fed rate cut in September, pushing the dollar lower, lifting gold prices and driving yields down
Trump has warned of “severe consequences” if Putin refuses to agree to peace in Ukraine
U.S. crude inventories rose by 1.52 million barrels last week, signaling changing market dynamics
Trump extended the tariff truce with China for an additional 90 days, averting duties
Trade and geopolitical tensions remain in focus as the U.S. tariff deadline on China approaches and the Ukraine war regains attention
Trump announced on Friday that he will meet with Putin in Alaska on August 15 to negotiate an end to the war in Ukraine
If negotiations fail and the conflict persists, markets may see a sharp rebound in oil prices
Higher U.S. tariffs against a wide range of trade partners took effect on Thursday, fueling concerns over weaker global economic activity
The first meeting between the two leaders since Biden and Putin's discussions in June 2021
The new tariffs target goods from the EU, Japan, and South Korea at 15 percent
