06:15 AM EDT, 08/01/2025 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Friday highlighted:

Markets: United States Treasuries sell off into New York close, stabilize in Asia. Similar pattern in U.S. equities, Asian stocks with mild losses except South Korea. DXY and gold rangebound, Brent oil softer.

Fed: President Donald Trump reiterates attacks on "terrible" Federal Reserve Chair Jerome Powell. Treasury Secretary Scott Bessent says he expects an announcement on succession by year-end, is putting together a shortlist.

Adjusted reciprocal tariffs: Trump signs directive for 10% baseline global tariff from next Thursday; for countries with trade surpluses baseline will be 15% or higher. Canada will be subject to 35% rate, but USMCA goods remain exempt. Taiwan calls 20% rate "temporary," Switzerland faces 39%.

Tariff news: White House press secretary Karoline Leavitt says the European Union investments will come by "end of 2028," things are "moving in the right direction on China." Commerce Secretary Howard Lutnick says Mexico has agreed to drop non-tariff trade barriers. Trump tells reporters that Canada recognizing Palestine as a state is "not a dealbreaker" in trade negotiations. Japan wants the U.S. to quickly cut auto tariffs to 15% "as agreed."

Russia-Ukraine: Trump calls Russian President Valdimir Putin's actions "disgusting," wants to impose sanctions on Russia if no deal is reached by next Friday, but isn't sure this will "bother" Putin.

Earnings: Apple only up slightly postmarket despite beat, Amazon down on Q3 guidance.

==EUROPE:

Netherlands: July HICP slows 0.3pp to 2.5% year-over-year (consensus 2.3%).

==ASIA:

China: S&P Manufacturing PMI drops 0.9 pts to 49.5 in July, more than expected (50.2).

Japan: Government "deeply concerned" about foreign exchange moves, Finance Minister Katsunobu Kato says.