USD/JPY and AUD/USD move on trade talk progress, US PPI data, and Aussie housing trends. Policy paths in Japan, US, and Australia remain in sharp focus.

The market remained cautious, however, as rising Saudi Arabian production and persistent concerns over global trade tensions tempered the upward momentum.

Tomato prices in the US could rise due to the termination of the Tomato Suspension Agreement, which was signed for the first time in 1996 and updated in 2019.

In addition to ongoing US trade tariff developments, the key macroeconomic print to watch this week will be the June US CPI inflation data (Consumer Price Index).

Inflation impacts everything, but the 2.7% rate is an average of all purchases, some have even higher prices while others dropped in price

The price of tomatoes are expected to go up after a nearly 30-year trade agreement with the U.S. and Mexico is being replaced by a new 20.9% tariff issued by President Donald Trump.

Mexico currently supplies around 70 per cent of the US tomato market, up from 30 per cent two decades ago, according to the Florida Tomato Exchange.

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Trump’s copper tariff threats already raising factory costs across the US. Read more at straitstimes.com. Read more at straitstimes.com.

American consumers could see a price hike and some restaurant owners may face shutting down, as a nearly three-decade-old US-Mexico trade agreement may give way to 20.9% tariffs on most Mexican tomato imports on July 14.