After the long weekend, US traders will return to a stronger US dollar. Over the weekend, President Trump delayed a planned 50% tariff on the EU from June 1st to July 9th, giving more time for talks with EU Commission President von der Leyen, who emphasized the need for swift negotiations. The EU is open to a zero-for-zero trade deal.
In other news, Japan’s trade negotiator aims to settle tariff talks with the US before the G7 summit in mid-June. Bank of Japan Governor Ueda plans to raise interest rates if the economy improves, while the Fed’s Kashkari noted debates about whether tariffs will drive inflation, suggesting the Fed may hold rates steady for now.
In Europe, weaker-than-expected French inflation data supports expectations for an ECB rate cut in June, though ECB’s Holzmann urged a pause until September due to trade uncertainties. He argued that economic activity is slowed by uncertainty, not tight policy.
Today’s US data includes durable goods orders, house prices, and consumer confidence.
For the exact date and time of these major economic events, import the BlackBull Markets Economic Calendar to receive alerts directly in your email inbox.
