Following Donald Trump’s move on Friday, trade negotiations between the EU and the U.S. will remain the key focus for markets in the coming hours.
Overnight, the 50% tariffs on all EU goods have been postponed until the conclusion of official trade talks (i.e., until July 9). However, potential comments from the European Commission, the White House, or ECB President Christine Lagarde could drive volatility during today’s session, especially in the currency markets.
That said, market activity is expected to remain limited due to a lack of macroeconomic data releases and the bank holiday in the U.S. and the U.K.
Economic calendar for today:
07:30 AM BST, Switzerland – Employment Data:
- Employment Level (Q1): previous 5.534M;
02:30 PM BST, Germany – German Buba President Nagel Speaks
03:30 PM BST, Euro Zone – ECB President Lagarde Speaks
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