Europe scores a deal
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What was the significance of the Sunday women’s Euro final and the Trump‑EU trade deal announcement?
Well, Sunday was a fantastic day for Europe. First the women's Euro Finals in soccer, England versus Spain. No spoiler alert here. Then a trade deal. Well, actually before that, a trade deal with uh the US. Donald Trump announced it, the most significant trade deal so far. Let's hope it lasts. And the China deal, well maybe there's a grace period on that as well, according to the Wall Street Journal. And Jerome Powell gets to keep his job. Now, equities were doing very well ahead of any of this. What are they going to do today and this week with earnings as well, including many of the Magnificent Seven and jobs and inflation numbers as well and several central banks? It's a busy, busy week and it's starting well.
It's Monday, it's the twenty eighth of july twenty twenty five. It's the morning call from Nav. Good morning. Well, it was another good day for US equities on Friday. The Nasdaq up a quarter percent, the S P up naught point four percent, half a percent for the Dow, compared to Europe where shares were down. At home, the ASX two hundred also down by half a percent on Friday. Uh and the US dollar climbed about a quarter percent on the day on Friday, with the Aussie down a little over a third of one percent, down below sixty five point seven US cents. The yen lost half a percent on Friday, so did the Canadian dollar and the pound. But the Euro held its own. Not much in the way of bond movements at the end of the week, just one basis point lower for ten year treasuries, the same for Aussie ten years that finished uh the week at four point three four percent, but four basis points higher than that on futures this morning.
An oil loss ground on Friday as well, one percent off Brent down to sixty-eight forty four barrel, one point three percent off for WTI. That was last week. It could be very different first thing this morning. Nabs Rodrigo Catrill joins me. Because it was an exciting day in Europe, wasn't it, on uh on Sunday. First of all the uh the women's Euros final, which was a nail biting match between England and Spain in the soccer, but also on Sunday before that President Trump and Esla von Deleyen did announce a trade deal for Europe. So a fifteen percent tariff on almost everything that they shipped to the United States, including cars which were taxed at twenty five percent.
How will the 15% tariff on most US‑EU goods and the $600 bn EU investment affect market sentiment?
So So I mean they're worse off than they were before Donald Trump came along, but they're better off than they thought perhaps they were gonna be. So good news for Europe.
Well um yeah so it just uh it's interesting how you know uh the the art of the deal is coming through in in all these um uh announcements in the sense that you know it looked really bad for for the foreign country and then somehow uh it's better than the worst case scenario, but it's actually still worse off than the original kind of uh starting points. So Exactly. So it it sort of with Whatever you think of President Trump, he's actually delivering on on these deals, uh at least on on paper on the on the headlines. Um just what so it's worth also highlighting that in terms of the details, uh like you say, um it's kind of very similar to the Japanese deal in terms of with the the car tariffs in particular Aloha.
Mm-hmm. Um but uh there's also the agreement that the US the the EU will be purchasing seven hundred and fifty billion in American energy and similar to uh Japan, there's also an agreement that the EU would invest six hundred billion uh on um on the US um uh so
And the same and the same arrangement that they're not that m they're not they're only going to take a a smidgen of the profits from that investment? Is it the same arrangement?
Well, so so that's sorry, that's what I wanted to emphasize that uh just like with the Japanese deal, if you remember, we we actually didn't know exactly what that that meant at the beginning. And only like a day or two later you understood a little bit more about what the what this investment means and and to what extent it's actually uh, you know, direct money or money that has already been committed, if you like, uh to to to invest in in the US or
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Chapters
8 chapters
1
What was the significance of the Sunday women’s Euro final and the Trump‑EU trade deal announcement?
0:02–2:00
2
How will the 15% tariff on most US‑EU goods and the $600 bn EU investment affect market sentiment?
2:00–4:42
3
What are the expected equity reactions in the US, Europe and Australia after the deal?
4:42–7:13
4
How does the EU‑US deal compare to the earlier Japan‑US agreement on tariffs and investment?
7:13–9:48
5
What impact will the deal have on the Euro, US dollar and other major currencies?
9:48–12:12
6
Why is the UK‑US tariff discussion important and what could change the 10% rate?
12:12–14:50
7
How will upcoming central‑bank decisions (Fed, BoJ, BoC, RBA) interact with the trade news?
14:50–17:08
8
What are the key economic data releases this week (inflation, PMI, jobs) that could shape market direction?
17:08–19:20