市场每周展望-随着财报季的进行，通胀风暴即将到来。7月9日的关税最后期限已经过去，市场参与者仍然有很多问题。贸易协议已经开始生效，但随着8月1日关税实施日期的临近，大多数国家仍在与美国进行谈判。

Markets Weekly Outlook – Inflation Storm Ahead as Earnings Season Gets Underway.The July 9 tariff deadline has come and gone and market participants are still left with a lot of questions. Trade deals have begun to filter through but the majority of countries are still locked in negotiations with the US as the tariff implementation date of August 1 beckons.

通胀观察——加拿大消费者价格在5月意外下跌后将在6月上涨。我们预计，由于周二加拿大和美国6月通胀数据中的关税，价格大幅上涨可能为时过早。

Inflation Watch—Canada's Consumer Prices to Tick Higher in June after May's Downside Surprise.We expect it is likely too early to see a significant increase in prices due to tariffs in Canadian and U.S. inflation data for June on Tuesday.

由于炼油限制和关税担忧持续存在，铜价保持稳定。周五，铜期货交易价格接近每磅5.50美元，从周二的高点5.70美元下跌。尽管价格小幅下跌，但仍比周一收盘价高出10%，突显出人们对美国即将征收的贸易关税导致的供应中断的持续担忧。

Copper prices steady as refining constraints and tariff fears persist.Copper futures are trading near $5.50 per pound on Friday, slipping from Tuesday's high of $5.70 on the daily timeframe. Despite the modest decline, prices remain 10% higher than Monday's close, underscoring persistent concerns over supply disruptions tied to incoming United States (US) trade tariffs.

在纽约，道琼斯指数周五下跌287点，跌幅0.64%。耐克（-2.61%）、维萨（-2.26%）和Salesforce（-1.97%）领跌。涨幅最大的是联合健康（1.46%）、亚马逊（1.26%）和雪佛龙（0.78%）。

In New York, the Dow Jones Index decreased 287 points or 0.64 percent on Friday. Losses were driven by Nike (-2.61%), Visa (-2.26%) and Salesforce (-1.97%). Biggest rises came from UnitedHealth (1.46%), Amazon (1.26%) and Chevron (0.78%).