{"id":43173,"date":"2025-02-10T11:15:36","date_gmt":"2025-02-10T11:15:36","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=43173"},"modified":"2025-02-10T11:15:36","modified_gmt":"2025-02-10T11:15:36","slug":"morning-update-10-02-2025","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=43173","title":{"rendered":"Morning Update (10.02.2025)"},"content":{"rendered":"<p>\ud83d\udd39 <strong>Mixed Asian market performance<\/strong> after Trump\u2019s announcement of a <strong>25% tariff<\/strong> on all steel and aluminium imports:<\/p>\n<p>\ud83d\udcc8 <strong>Hang Seng<\/strong> surged <strong>+1.5%<\/strong>, driven by tech\u00a0stocks\ud83d\udcc8 <strong>Shanghai Composite<\/strong> gained\u00a0<strong>+0.4%<\/strong>\ud83d\udcc9 <strong>Nikkei<\/strong> slipped\u00a0<strong>-0.1%<\/strong>\ud83d\udcc9 <strong>ASX 200<\/strong> fell\u00a0<strong>-0.4%<\/strong><\/p>\n<p>\ud83d\udd38 Trump plans <strong>reciprocal tariffs<\/strong> \ud83d\udee1\ufe0f to match other countries\u2019 trade rates. The <strong>EU<\/strong> warned of a swift response, while <strong>Canada<\/strong> \ud83c\udde8\ud83c\udde6, the top US aluminium supplier, expressed concerns about supply chain disruptions.<\/p>\n<p>\ud83d\udd39 <strong>Chinese tech rally<\/strong> \ud83d\ude80 despite trade tensions:<\/p>\n<p>Baidu <strong>+3.5%<\/strong>Alibaba <strong>+4%<\/strong><\/p>\n<p>Beijing is reportedly preparing <strong>retaliatory measures<\/strong> targeting US tech giants with <strong>antitrust probes<\/strong> \u2696\ufe0f, with <strong>Apple, Nvidia, Broadcom,<\/strong> and <strong>Synopsys<\/strong> under potential scrutiny.<\/p>\n<p>\ud83d\udd38 <strong>Dollar strengthens<\/strong> <strong>\ud83d\udcb5 +0.2%<\/strong> amid concerns over inflation from\u00a0tariffs.<\/p>\n<p><strong>JPY<\/strong> fell <strong>-0.4%<\/strong> to <strong>\u00a5151.98<\/strong> despite recent hawkish comments from the\u00a0<strong>BOJ<\/strong>.<strong>CNY<\/strong> weakened past <strong>7.3 per dollar<\/strong>, hitting a <strong>3-week\u00a0low<\/strong>.<\/p>\n<p>\ud83d\udd39 <strong>Commodities Update:<\/strong><\/p>\n<p>\ud83d\udee2\ufe0f <strong>Brent<\/strong> at <strong>$75.06<\/strong>, <strong>WTI<\/strong> at <strong>$71.40<\/strong> (+), snapping a <strong>3-week\u00a0decline<\/strong>\ud83c\udfc6 <strong>Gold<\/strong> rose near <strong>$2,881\/oz<\/strong>, driven by safe-haven demand<\/p>\n<p>\ud83d\udd38 <strong>China\u2019s Central Bank<\/strong> continues <strong>gold purchases<\/strong> for the third month in a\u00a0row.<\/p>\n<p>\ud83d\udd39 <strong>Japan\u2019s 2024 current account surplus<\/strong> hit a record <strong>\u00a529.3 trillion<\/strong> ($193B), boosted by strong overseas investment returns \ud83d\udcc8 despite trade and services deficits.<\/p>\n<p>\ud83d\udd38 <strong>Upcoming\u00a0events:<\/strong><\/p>\n<p>\ud83c\udfdb\ufe0f <strong>Fed Chair Powell<\/strong> to testify before Congress on Tuesday and Wednesday. Markets await his take on <strong>trade policy<\/strong> and <strong>inflation<\/strong>.\ud83d\udcca <strong>January CPI<\/strong> data to be released during Powell\u2019s second day of testimony.<\/p>\n<p>\ud83d\udd38 Trump announced plans to <strong>halt penny production<\/strong> \ud83e\ude99 due to high manufacturing costs (<strong>3.7 cents per coin<\/strong>), following recommendations from <strong>Musk\u2019s Department of Government Efficiency<\/strong> team.<\/p>\n<p>Stay tuned for more updates!\u00a0\ud83d\udcf2<\/p>\n<p><a href=\"https:\/\/medium.com\/coinmonks\/morning-update-10-02-2025-ceffc69ae0d1\">Morning Update (10.02.2025)<\/a> was originally published in <a href=\"https:\/\/medium.com\/coinmonks\">Coinmonks<\/a> on Medium, where people are continuing the conversation by highlighting and responding to this story.<\/p>","protected":false},"excerpt":{"rendered":"<p>\ud83d\udd39 Mixed Asian market performance after Trump\u2019s announcement of a 25% tariff on all steel and aluminium imports: \ud83d\udcc8 Hang Seng surged +1.5%, driven by tech\u00a0stocks\ud83d\udcc8 Shanghai Composite gained\u00a0+0.4%\ud83d\udcc9 Nikkei slipped\u00a0-0.1%\ud83d\udcc9 ASX 200 fell\u00a0-0.4% \ud83d\udd38 Trump plans reciprocal tariffs \ud83d\udee1\ufe0f to match other countries\u2019 trade rates. The EU warned of a swift response, while Canada [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-43173","post","type-post","status-publish","format-standard","hentry","category-interesting"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/43173"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=43173"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/43173\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}