The RBA held rates steady this week, surprising markets but aligning with its wait-and-see approach ahead of upcoming CPI data. Meanwhile globally, Trump confirmed tariffs will rise from August 1, sparking volatility across the markets. On one hand, copper jumped on news of a 50% US import tariff, with traders rushing to reroute shipments. However, the prospect of a 200% tariff on imported drugs has rattled healthcare producers, with CSL advocating for targeted measures over blanket tariffs to avoid disrupting global supply chains.

In this week’s wrap, Grady covers:

• (0:10): the RBA’s shock rate hold and future outlook
• (1:13): Trump’s August 1 tariff date and how the market reacted
• (2:02): the impact of fresh tariff threats on the copper and healthcare sectors
• (4:38): how the market performed this week so far
• (5:20): the best and worst performing stocks and ETFs this week
• (5:48): economic news items to look out for.