Global markets were cautious on Monday as U.S. officials hinted at delays and changes to upcoming tariffs, without offering clear details. President Trump announced that several trade deals are near completion, with formal tariff rate notifications expected by July 9 and implementation by August 1. Uncertainty remains over which countries will be impacted.

Markets responded with muted movements. U.S. futures fell slightly, while European and Asian markets were mixed. The dollar edged up but remains pressured by investor concerns over the unpredictability of U.S. trade policy, especially targeting BRICS-aligned nations. The Australian dollar dropped as a proxy for trade risk.

Bond yields declined, reflecting a flight to safety. Commodities saw mixed performance: gold fell after last week’s gains, and oil prices rose modestly despite OPEC+ output increases.

Analysts noted that while markets are more accustomed to Trump's tariff strategies, risks of volatility remain high as policy clarity is still lacking. The Federal Reserve is expected to stay cautious, with minimal rate policy changes anticipated this week.