China July 2025 trade data shows USD denominated exports +7.2% y/y (vs +5.4% expected)Federal Reserve Bank of Atlanta President Bostic will speak Thursday - more rate cut talk?Saudi Arabia raises oil prices for Asia: tight supply & anticipated surge in Indian demandTaiwan Semiconductor Manufacturing Company (TSMC) shares up, says will get Trump exemptionAustralian June 2025 trade balance +5365mn (expected +3250mn, prior +2238mn)Trump adviser Navarro signals caution on further China tariffs over Russian oilPBOC sets USD/ CNY reference rate for today at 7.1345 (vs. estimate at 7.1709)Yen update - continues to get hit lower on the back of Trump tariff attackBP sees oil demand rising 1% in 2025 and 2026, puts OPEC+ back in controlStupid tariff + stupid exemption + stupid (ridiculous) promise = AAPL share price jumpsFurther reports of Trump to slam an extra 15% tariff on ALL Japan importsICYMI - McDonald’s Q2 2025 earnings: strong results from budget-conscious consumersHey Hey its Bank of England rate cut Day!GM to launch four new vehicles in South and Central America by 2028Trump is threatening China with an extra 25% tariff over Russia oil buys.Trump's 100% chips tariff has a big but (I like big buts and I cannot lie)Apple shares have surged in after hours trading, up 2%+Yen has stabilised after massive news that Trump could slam Japan with extra 15% tariffTrump promises very large, 100%, tariffs to come on chips and semiconductorsinvestinglive Americas FX news wrap 6 Aug: Could there be peace in Ukraine? Fed shifting.US Sec State Rubio says we all need to take a chill pill - No Trump-Putin call scheduledMore from Fed's Daly: cautiousness in the economy weighing on growth, but not stalling outThere are some reports that Trump is going to hit Japan with an extra 15% tariff, yen hitICYMI - Trump will meet with Putin next week, then a three-way meet with ZelenskyNASDAQ leads the gains as major indices close higherFed's Daly says its likely the Fed will need to adjust policy in coming monthsAfter the US close, a Kyodo report hit wires saying Trump will slap an additional 15% tariff on all imports from Japan. The yen dropped sharply on the news, with USD/JPY jumping above 147.50 before stabilising.Japan had anticipated that items already facing tariffs under 15% would be raised to 15%, while those above—like beef—would remain unchanged. But the U.S. has confirmed the new 15% levy applies across the board, regardless of existing rates.A few hours later, as markets grew more liquid, a similar report emerged from Japanese outlet Asahi. This second confirmation triggered another bout of yen selling, pushing USD/JPY to highs near 147.70. Its dipped back a bit as I post.In further tariff news, Trump announced plans to impose “around” 100% tariffs on chips and semiconductors. However, firms building—or committing to build—manufacturing facilities in the U.S. will be exempt. As usual, details were vague. For example, Apple CEO Tim Cook was present at the announcement and promptly pledged $600 billion in U.S. investment over the next four years. For context, Apple’s total capex over the past four years was just $43 billion. Still, that was enough for Apple to secure an exemption, and AAPL shares jumped in after-hours trade.Taiwan later confirmed it, too, has secured an exemption, with shares of TSMC rising. Samsung shares also gained on similar expectations, helping lift broader Asian equities.There’s more: Trump floated the idea of applying China tariffs similar to the 25% duty recently imposed on India over its continued purchases of Russian oil. However, trade adviser Peter Navarro struck a more cautious tone, noting China is already facing 50% tariffs on many goods and warned against overreach:“We don't want to get to a point where we actually hurt ourselves.”“Let’s wait and see,” he added—signalling no immediate move.Data: Chinese July trade data showed another solid rise in exports. While direct shipments to the U.S. fell, untracked transshipments were not captured in the official numbers—by design, of course.Fed watch: San Francisco Fed President Mary Daly largely reiterated her earlier comments, backing rate cuts in the near term. Her message aligns with a growing chorus of Fed officials signalling easing ahead.FX: Major currency pairs traded in relatively narrow ranges—aside from the yen, which continued to chart its own, weaker path.Asia-Pacstocks:Australia(S&P/ASX 200) -0.2%, letting the team downHongKong (Hang Seng) +0.3%Japan(Nikkei 225) +0.7%ShanghaiComposite +0.1% This article was written by Eamonn Sheridan at investinglive.com.