The market is clearly becoming less nervous about headlines around tariffs. President Trump was on the wires talking about 25% tariffs on automobiles, semiconductor, and pharmaceutical products, and the market took it all in stride rather than panicking as we had seen weeks back. There is a clearer understanding that all of this is much more about strategy and negotiating tactics, and overall, markets have responded in kind with U.S. equities up at record high levels and the U.S. dollar selling off.
Moving on, earlier today the RBNZ was out cutting rates by 50 basis points as widely expected. Over in Japan, BOJ Takato was on the wires backing up the recent shift in BOJ sentiment towards the need to be on a hawkish policy track.
Key standouts on today’s calendar ahead come from UK inflation data, the Eurozone current account, U.S. housing starts, U.S. building permits, and the Fed minutes 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.
