Financial markets have settled into a wait and see ahead of tomorrow’s highly anticipated update on the detail of US tariffs. We’ve seen some position squaring ahead of the event risk as some traders look to reduce risk associated with worst case scenarios. This can best be reflected in the rebound in US equities. We also believe Fed Williams has been helping this cause after coming out and saying longer-run inflation expectations are anchored and monetary policy is moderately restrictive.
Earlier today, data out of Japan was on the whole better than expected, while the RBA was out leaving policy on hold as widely expected. Meanwhile, gold continues to do its thing, rocking up to yet another record high.
Key standouts on Tuesday’s calendar for the remainder of the day come from UK Nationwide house prices, German, Eurozone and UK manufacturing PMIs, Eurozone inflation, Eurozone unemployment, an ECB Lagarde speech, US ISM manufacturing, US JOLTS job openings, and the New Zealand GDT auction late in the day.
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.
