Markets.com Logo
euEnglish
LoginSign Up

Morning Note: Dollar Near Lows on Tariffs; US Eyes AI Chip Curbs; Ethereum’s Future

Jul 6, 2025
4 min read
Table of Contents
  • 1. Tariff Countdown Pressures U.S. Dollar
  • 2. Trump Targets AI Chip Exports to Asia
  • 3. Ethereum at the Core of Tokenisation’s Future?

USD-down-1200-format-webp.jpg

Tariff Countdown Pressures U.S. Dollar

The U.S. dollar remained near multi-year lows on Monday during the Asian trading session, marking its weakest level since 2021 against the euro and its lowest since 2015 against the Swiss franc, as markets braced for potential trade-related headlines ahead of President Donald Trump’s looming tariff deadline. Most of America’s trade partners are expected to face significantly higher tariffs after the expiration of Trump’s 90-day moratorium on his so-called "Liberation Day" reciprocal tariffs this Wednesday. So far, only Britain, China, and Vietnam have reached any form of trade agreement with the U.S.

Trump stated on Friday that he would name around a dozen countries on Monday that have received formal notices about the new, elevated tariff rates, which are expected to take effect on August 1. U.S. Treasury Secretary Scott Bessent also hinted at several major announcements in the coming days. However, unlike past surprises where tariff levels exceeded market expectations, the current measures appear to be mostly priced in. Markets are also factoring in the possibility of further deadline extensions.

image3.png, Picture

(U.S. Dollar Index Daily Chart, Source: Trading View)

From a technical analysis perspective, the U.S. Dollar Index has been trending lower since January 2025, as reflected by a consistent pattern of lower highs and lower lows. Recently, the index broke below the previous low at the 97.13 level, continuing its decline and forming a new lower low. This confirmed bearish structure may continue to pressure the index downward until a significant bullish momentum emerges to reverse the trend.

Trump Targets AI Chip Exports to Asia

The Trump administration is reportedly preparing new export restrictions on advanced AI chips, including those produced by Nvidia, aimed at Malaysia and Thailand. According to Bloomberg News, which cited sources familiar with the matter, the move stems from concerns that these technologies could ultimately be rerouted to China. The draft regulation, currently under review by the U.S. Commerce Department, has not been finalised and remains subject to change.

This proposed policy marks a shift from the existing export curbs introduced during former President Biden's term. The Trump administration has indicated its intention to revoke and replace those measures with stricter controls. The overarching goal remains the same: to limit China’s access to cutting-edge artificial intelligence technology, retain computing advantages within the U.S. and allied nations, and reinforce tech-related national security efforts.

image1.png, Picture(Nvidia Daily Share Price Chart, Source: Trading View)

From a technical analysis perspective, Nvidia’s share price has been in a bullish trend since April 2025, marked by the formation of higher highs and higher lows. Recently, the price broke above the order block between 148 and 153, pulled back to retest the zone, found support, and continued to surge upward. This confirmed bullish structure may continue to drive the price higher, unless a significant bearish force emerges to reverse the trend.

Ethereum at the Core of Tokenisation’s Future?

A leading voice in the investment product space has made a compelling statement: being bullish on stablecoins and tokenised assets is, in essence, a bet on Ethereum. Nate Geraci, president of the ETF Store, argues that Ethereum plays a central role in the evolving financial ecosystem, and its growing importance shouldn’t be underestimated.

As tokenisation moves from concept to real-world application, particularly within banks and asset management firms, Ethereum is solidifying its position as the preferred infrastructure for deploying and settling tokenised assets. Its established ecosystem, deep liquidity, and developer tooling give it a structural edge. Geraci also pushed back against the idea that the underlying platform doesn't matter, emphasising that institutions are making clear choices, and Ethereum is increasingly the one they trust.

image2.png, Picture(Ethereum Daily Price Chart, Source: Trading View)

From a technical analysis perspective, Ethereum's price oscillated within a consolidation zone from mid-April to May 2025, and broke above it with strong bullish momentum on 8 May 2025, followed by continued upward movement. However, the price has since entered another consolidation phase, during which two fake breakouts can be observed. The first was a false bullish breakout aimed to raid the previous buy-side liquidity, leaving a new high liquidity point at the 2,877.47 level. The second was a false bearish breakout intended to raid the previous sell-side liquidity, establishing a new low liquidity point at 2,115.08.

It’s important to remain cautious of another potential fake breakout. Once the price raids either of these newly formed liquidity levels, we should closely observe whether the move is followed by strong momentum in that direction. If so, it may potentially indicate a genuine breakout.


Risk Warning: this article represents only the author’s views and is for reference only. It does not constitute investment advice or financial guidance, nor does it represent the stance of the Markets.com platform.When considering shares, indices, forex (foreign exchange) and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss.Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice. Trading cryptocurrency CFDs and spread bets is restricted for all UK retail clients. 

Tommy Yap
Written by
Tommy Yap
SHARE

Markets

  • Palladium - Cash

    chartpng

    --

    1.69%
  • EUR/USD

    chartpng

    --

    -0.03%
  • Cotton

    chartpng

    --

    -0.07%
  • AUD/USD

    chartpng

    --

    0.09%
  • Santander

    chartpng

    --

    -0.36%
  • Apple.svg

    Apple

    chartpng

    --

    -0.97%
  • easyJet

    chartpng

    --

    -0.83%
  • VIXX

    chartpng

    --

    -0.58%
  • Silver

    chartpng

    --

    -0.06%
Tags DirectoryView all
Table of Contents
  • 1. Tariff Countdown Pressures U.S. Dollar
  • 2. Trump Targets AI Chip Exports to Asia
  • 3. Ethereum at the Core of Tokenisation’s Future?

Related Articles

Bank of England BoE

Week Ahead: Interest Rate Decisions from BoE in Focus

Several key economic releases are scheduled for the week of 4 – 8 August 2025. On Monday, 4 August at 0630 GMT, Switzerland will release its CPI m/m data, with June showing a +0.2% rise and July expected to remain steady.

Tommy Yap|in 3 days

US Sanctions Iranian Oil Network Linked to Shamkhani, Intensifying Pressure

The US Treasury Department announced new sanctions targeting a vast network managed by figures linked to the Iranian regime, in a move aimed at undermining Iranian oil exports and increasing pressure on Tehran.

Sophia Claire|about 1 hour ago

Trump's Brazil Tariffs Over Bolsonaro Case: Relief Mixed with Economic Concerns

Trump's tariffs on Brazil, driven by the Bolsonaro case, spark economic concerns and potential legal challenges, despite key exemptions.

Ava Grace|about 2 hours ago
Markets.com Logo
google playapp storeweb tradertradingView

Contact Us

support@markets.com+12845680155

Markets

  • Forex
  • Shares
  • Commodities
  • Indices
  • Crypto
  • ETFs
  • Bonds

Trading

  • Trading Tools
  • Platform
  • Web Platform
  • App
  • TradingView
  • MT4
  • MT5
  • CFD Trading
  • CFD Asset List
  • Trading Info
  • Trading Conditions
  • Trading Hours
  • Trading Calculators
  • Economic Calendar

Learn

  • News
  • Trading Basics
  • Glossary
  • Webinars
  • Traders' Clinic
  • Education Centre

About

  • Why markets.com
  • Global Offering
  • Our Group
  • Careers
  • FAQs
  • Legal Pack
  • Safety Online
  • Complaints
  • Contact Support
  • Help Centre
  • Sitemap
  • Cookie Disclosure
  • Awards and Media

Promo

  • Gold Festival
  • Crypto Trading
  • marketsClub
  • Welcome Bonus
  • Loyal Bonus
  • Referral Bonus

Partnership

  • Affiliation
  • IB

Follow us on

  • Facebook
  • Instagram
  • Twitter
  • Youtube
  • Linkedin
  • Threads
  • Tiktok

Listed on

  • 2023 Best Trading Platform Middle East - International Business Magazine
  • 2023 Best Trading Conditions Broker - Forexing.com
  • 2023 Most Trusted Forex Broker - Forexing.com
  • 2023 Most Transparent Broker - AllForexBonus.com
  • 2024 Best Broker for Beginners, United Kingdom - Global Brands Magazine
  • 2024 Best MT4 & MT5 Trading Platform Europe - Brands Review Magazine
  • 2024 Top Research and Education Resources Asia - Global Business and Finance Magazine
  • 2024 Leading CFD Broker Africa - Brands Review Magazine
  • 2024 Best Broker For Beginners LATAM - Global Business and Finance Magazine
  • 2024 Best Mobile Trading App MENA - Brands Review Magazine
  • 2024 Best Outstanding Value Brokerage MENA - Global Business and Finance Magazine
  • 2024 Best Broker for Customer Service MENA - Global Business and Finance Magazine
LegalLegal PackCookie DisclosureSafety Online

Payment
Methods

mastercardvisanetellerskrillwire transferzotapay
The www.markets.com/za/ site is operated by Markets South Africa (Pty) Ltd which is a regulated by the FSCA under license no. 46860 and licensed to operate as an Over The Counter Derivatives Provider (ODP) in terms of the Financial Markets Act no.19 of 2012. Markets South Africa (Pty) Ltd is located at BOUNDARY PLACE 18 RIVONIA ROAD, ILLOVO SANDTON, JOHANNESBURG, GAUTENG, 2196, South Africa. 

High Risk Investment Warning: Trading Foreign Exchange (Forex) and Contracts For Difference (CFDs) is highly speculative, carries a high level of risk and is not appropriate for every investor. You may sustain a loss of some or all of your invested capital, therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading on margin. Please read the full  Risk Disclosure Statement which gives you a more detailed explanation of the risks involved.

For privacy and data protection related complaints please contact us at privacy@markets.com. Please read our PRIVACY POLICY STATEMENT for more information on handling of personal data.

Markets.com operates through the following subsidiaries:

Safecap Investments Limited, which is regulated by the Cyprus Securities and Exchange Commission (“CySEC”) under license no. 092/08. Safecap is incorporated in the Republic of Cyprus under company number ΗΕ186196.

Markets International Limited is registered  in the Saint Vincent and The Grenadines (“SVG”) under the revised Laws of Saint Vincent and The Grenadines 2009, with registration number  27030 BC 2023.

Close
Close

set cookie

set cookie

We use cookies to do things like offer live chat support and show you content we think you’ll be interested in. If you’re happy with the use of cookies by markets.com, click accept.