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US Commerce Secretary Lutnick: Semiconductor tariffs are not part of the US-South Korea deal

US Commerce Secretary Howard Lutnick was out with some trade-related comments in the last hour, saying that semiconductor tariffs are not part of the U.S.-South Korea deal. Lutnick also announces South Korea $200M investment in Alaska’s natural gas project.

Market Reaction:

The global risk sentiment remains supported by the latest optimism fueled by hopes for a US-China trade deal. Meanwhile, the US Dollar Index (DXY) remains on the defensive below the 99.00 mark, eroding a part of the previous day's hawkish FOMC-inspired gains to an over two-week high.

China’s Premier Li: Need to expand domestic demand, deepen supply-side reforms

China’s Premier Li Qiang stressed the need to balance development with security, strengthen risk-prevention mechanisms, and safeguard long-term growth through policy preparedness and systemic stability.
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PBOC sets USD/CNY reference rate at 7.0864 vs. 7.0843 previous

The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Thursday at 7.0864 compared to the previous day's fix of 7.0843 and 7.1056 Reuters estimate.
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