Forexlive European FX news wrap: Awaiting the US-China trade talks outcome ...Middle East

US May NFIB small business optimism index 98.8 vs 95.9 expectedLutnick: Talks with China are going wellECB's Rehn: We will take decisions meeting by meetingEurozone June Sentix investor confidence +0.2 vs -6.0 expectedSNB total sight deposits w.e. 6 June CHF 438.1 bn vs CHF 444.9 bn priorECB's Villeroy: We will remain pragmatic going forward on ratesTraders now see the next rate cut for the BoE in September vs November before jobs dataUK April ILO unemployment rate 4.6% vs 4.6% expectedFX option expiries for 10 June 10am New York cutUS-China trade talks set to continue in London later todayJapan PM Ishiba, US President Trump to hold bilateral talks on the sidelines of G7 summitNomura expects a rebound in China’s US-bound exports in June

The markets remain kind of rangebound as traders await new catalysts like the outcome of the US-China negotiations and the US CPI report tomorrow. Until then, we will likely keep with this kind of price action. There is of course some outlier like bitcoin as the cryptocurrency surged to new highs yesterday after a key technical breakout.

In the American session, we don't have much on the agenda other than the US Redbook data and the 3-year auction. Neither of these releases will influence markets expectations. Therefore, the focus will remain on the US-China negotiations and traders will be on the lookout for market-moving headlines.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

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