Major currencies quiet in European morning trade ...Middle East

In other markets, equities are gradually climbing with S&P 500 futures now up 0.16% on the day. The calmer mood is helping to lead European indices higher as well with both the DAX and CAC 40 up a little over 1%. Investors seem to be brushing aside much of the fears surrounding Trump's latest tariffs threat for 1 August.

With a temporary "framework" agreement set for the EU, we'll now have to see what will come from Trump's other letters next. Here's a reminder and catch up to the trade headlines:

Trump will impose a 50% tariff on copper imports, prices jumpMore on Trump's 50% copper tariff rate to hit within just 30 daysMore Trump: We will be announcing semiconductor tariffsTrump says releasing tariff details for 7 or more countries Wednesday morningLutnick expects another 15-20 tariff letters to go out over the next two days This article was written by Justin Low at www.forexlive.com.

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