FX.co ★ ASX 200 Flat Amid Fresh Trade Tensions

The S&P/ASX 200 Index remained stable at approximately 8,589 at the opening on Friday, poised for its first weekly decline in three weeks as investors considered the latest tariff measures from U.S. President Donald Trump. On Thursday, Trump declared a 35% tariff on Canadian imports set to commence on August 1, in response to Canada’s retaliatory tariffs. He further mentioned that the European Union would be informed of new tariff rates imminently and suggested imposing blanket tariffs ranging from 15% to 20% on most other trading partners. In Australia, anticipation is mounting for an interest rate cut in August, with market probabilities now at 89%, following the central bank's unexpected decision to keep rates unchanged earlier in the week. On the corporate side, leading mining companies saw continued gains, reaching nearly a one-month high due to robust commodity prices, with BHP rising 2.6%, Fortescue gaining 3.1%, and Rio Tinto advancing 2.4%. However, healthcare stocks remained under strain, declining by almost 1%, primarily driven by a 0.6% fall in shares of biotechnology major CSL.