Headlines:
EU aims for US trade talks to extend past Trump’s July deadline.Japan prime minister Ishiba says making steady progress in tariff negotiations with USTrump says court ruling to allow tariffs to stay in place is a great and important winTrump: Less confident about Iran dealTrump on whether he could reconcile with Musk: I guess I couldElon Musk: I regret some of my posts about President Trump last week. They went too far.ECB's Lane: Cut last week helps keep price undershoot temporaryECB's Kazaks: Keeping 2% inflation will require some further cuts for fine tuningECB wage tracker indicates a decline in negotiated wages for the yearBOJ now expected to keep interest rates unchanged through to year-end - surveyBOJ expected to hold rates, slow pace of bond tapering amid market strainMarkets:
There wasn't much action during the session with traders and investors eyeing more pertinent key risk events later in the day.
The conclusion of US-China trade talks in London were a bit of a fizzle as we await the final details and Trump to make a big deal out of it of course. As such, the enthusiasm is cooling a little for the time being. Besides that, we're also waiting on the US CPI report for May and that will be another point for markets to watch out for.
Given the backdrop, major currencies were largely subdued in European trading. The dollar is keeping steadier and a little more mixed across the board. The overall changes are light though, with EUR/USD flat at 1.1428 and USD/JPY up slightly by just 0.3% to 145.23 currently. Meanwhile, GBP/USD is flat at 1.3495 and AUD/USD down 0.2% to 0.6505 on the day.
In the equities space, there wasn't anything exciting either. US futures kept marginally lower and held that throughout the session while European indices lacked any impetus or real direction, awaiting the more important developments above.
Oil is arguably the only standout on the session, jumping higher after a report stating that Trump is less confident about a deal with Iran. WTI crude is up to $65.85 and knocking on the door of its 100-day moving average at $66.06 once again.
On to the US CPI report up next then.
This article was written by Justin Low at www.forexlive.com. Read More Details
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