EUROPEAN SESSION
In the European session, we don’t have much on the agenda other than a couple of low tier releases like the Italian and Eurozone trade balances which are not going to change anything for the ECB and won’t be market-moving.
The focus remains on US-Iran negotiations. The news we’ve been getting have been mostly positive and just yesterday Israel and Lebanon began a 10-day ceasefire to allow for negotiations. Trump delivered some upbeat remarks yesterday and mentioned that a US-Iran meeting could happen over the weekend.
AMERICAN SESSION
In the American session, the only highlight is Fed’s Waller speech. He’s been a “leading indicator” for Fed policy since 2021 and just recently started to put more emphasis on inflation given the energy shock and the resilient labour market. He still doesn’t see the need for a rate hike and prefers to wait before restarting rate cuts later this year.
CENTRAL BANK SPEAKERS
- 12:00 GMT/08:00 ET – BoE’s Bailey (hawkish – voter)
- 18:00 GMT/14:00 ET – Fed’s Waller (dovish – voter)
This article was written by Giuseppe Dellamotta at investinglive.com.
