🌅 Morning Update (10.02.2025) 🔹 Mixed Asian market performance after Trump's announcement of a 25% tariff on all steel and aluminium imports: 📈 Hang Seng surged +1.5%, driven by tech stocks 📈 Shanghai Composite gained +0.4% 📉 Nikkei slipped -0.1% 📉 ASX 200 fell -0.4% 🔸 Trump plans reciprocal tariffs 🛡️ to match other countries' trade rates. The EU warned of a swift response, while Canada 🇨🇦, the top US aluminium supplier, expressed concerns about supply chain disruptions. 🔹 Chinese tech rally 🚀 despite trade tensions: Baidu +3.5% Alibaba +4% Beijing is reportedly preparing retaliatory measures targeting US tech giants with antitrust probes ⚖️, with Apple, Nvidia, Broadcom, and Synopsys under potential scrutiny. 🔸 Dollar strengthens 💵 +0.2% amid concerns over inflation from tariffs. JPY fell -0.4% to ¥151.98 despite recent hawkish comments from the BOJ. CNY weakened past 7.3 per dollar, hitting a 3-week low. 🔹 Commodities Update: 🛢️ Brent at $75.06, WTI at $71.40 (+), snapping a 3-week decline 🏆 Gold rose near $2,881/oz, driven by safe-haven demand 🔸 China’s Central Bank continues gold purchases for the third month in a row. 🔹 Japan’s 2024 current account surplus hit a record ¥29.3 trillion ($193B), boosted by strong overseas investment returns 📈 despite trade and services deficits. 🔸 Upcoming events: 🏛️ Fed Chair Powell to testify before Congress on Tuesday and Wednesday. Markets await his take on trade policy and inflation. 📊 January CPI data to be released during Powell's second day of testimony. 🔸 Trump announced plans to halt penny production 🪙 due to high manufacturing costs (3.7 cents per coin), following recommendations from Musk's Department of Government Efficiency team. Stay tuned for more updates! 📲