Markets optimistic as Trump delays tariff deadline and passes Big Beautiful Bill

Despite confusion and renewed trade tensions, the dollar edges higher while gold slips. Trump delays tariff deadline to August 1, stating that trade deals are close. Wall Street hits a record high after Congress passes the Big Beautiful Bill. Oil recovers after OPEC+ increases output more than expected. As the July 9 deadline approaches, only UK, China, and Vietnam have trade deals with the US, with negotiations ongoing with other countries. Trump threatens to impose tariffs on countries aligning with BRICS. The RBA and RBNZ are expected to make rate decisions this week, causing the Aussie and Kiwi to fall. Stocks remain optimistic despite trade risks, while oil rebounds from lows.

Read more at Investing.com: Markets Await Trade Deals as Trump Makes New Tariff Threats