Ransquawk Rundown, Daily Podcast

European bourses are mixed amidst a slew of earnings, US futures flat/firmer ahead of a busy data docket and earnings from Meta and Microsoft.USD rally pauses for breath as markets await Q2 flash GDP and FOMC.USTs contained into numerous US events, Bunds were little moved by national and EZ-wide GDP metrics.Crude takes a breather after Tuesday's rally while gold holds around the unchanged mark.Looking ahead, US ADP National Employment, GDP Advance (Q2), PCE (Q2), Fed, BoC, BCB Policy Announcements Speakers including Fed Chair Powell, BoC's Macklem & Rogers. US Quarterly Treasury Refunding Announcement.Earnings from Airbus, Vinci, Microsoft, RobinHood, Carvana, Lam Research, Qualcomm, Ford, Arm, eBay, FMC, Vertiv, Altria, Kraft Heinz, GE Healthcare.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US Treasury Secretary Bessent said he will see US President Trump regarding the China tariff pause on Wednesday and some technical details remain on the China tariff pause, while the China tariff extension decision will be up to Trump and if he does not approve tariff pause extension, tariffs on Chinese goods would 'boomerang' back to April 2nd levels, or another level that he chooses.US President Trump said Chinese President Xi wants to meet and he thinks it will happen before the end of the year, while he stated that they will either approve the trade extension or not. Chinese Vice Commerce Minister Li said the US and China have agreed to extend the trade truce; Bessent said China jumped the gun a little on the 90-day pause.Crude futures surged yesterday amid comments from US President Trump who confirmed changing the deadline for Russia to reach a Ukraine ceasefire agreement to 10 days, while there were simultaneous comments from Treasury Secretary Bessent who told Chinese officials that China could face high tariffs if it continues to purchase sanctioned Russian oil due to US secondary tariff legislation.APAC stocks traded mixed following the subdued handover from Wall St; European equity futures indicate a mildly positive cash market open with Euro Stoxx 50 futures up 0.3% after the cash market closed with gains of 0.8% on Tuesday.Looking ahead, highlights include French GDP, Spanish CPI, German GDP & Retail Sales, Italian GDP, ECB Wage Tracker, EZ GDP & Sentiment, US ADP National Employment, GDP Advance (Q2), PCE (Q2), Fed, BoC, BCB Policy Announcements Speakers including Fed Chair Powell, BoC's Macklem & Rogers, Supply from Italy, US Quarterly Treasury Refunding Announcement.Earnings from Hermes, Airbus, Vinci, Danone, Capgemini, HSBC, GSK, Aston Martin, Santander, Caixabank, Telefonica, Intesa Sanpaolo, Leonardo, Mercedes Benz, Siemens Healthineers, BASF, Adidas, Porsche AG, Meta, Microsoft, RobinHood, Carvana, Lam Research, Qualcomm, Ford, Arm, eBay, FMC, Vertiv, Altria, Kraft Heinz, GE Healthcare & VF Corp.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are broadly in the green, alongside strength in US futures ahead of a busy earnings slate.USD is firmer, EUR/USD's descent continues as markets digest the EU-US trade agreement.USTs await data and a 7yr auction, Bunds are on the backfoot giving back some of the prior day's upside.Crude resumes upside while metals are hampered by the Dollar.Looking ahead, highlights include US JOLTS Job Openings, Advance Goods Trade Balance, Wholesale Inventories Advance, Consumer Confidence, Dallas Fed Services Revenues, Atlanta Fed GDPNow, ECB SCE, Supply from the US, Earnings from Kering, Banca Generali, Terna, Grifols, Visa, Marathon Digital, Starbucks, Booking, UnitedHealth, Sofi, Paypal, UPS, Spotify, Merck, Nucor, JetBlue, Procter & Gamble.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks traded with a mostly negative bias after a similar performance among global peers.European equity futures indicate a positive cash market open with Euro Stoxx 50 future up 0.2% after the cash market closed with gains of 0.3%.FX markets are contained, EUR/USD sits on a 1.15 handle, USD/JPY maintains its footing above the 148 mark.Bund futures lacked direction overnight. Crude futures were little changed but held on to most of the prior day's spoils.Looking ahead, highlights include Spanish GDP Estimate, US Advance Goods Trade Balance, Wholesale Inventories Advance, Consumer Confidence, Dallas Fed Services Revenues, Atlanta Fed GDPNow, ECB SCE, Supply from UK, Germany & US.Earnings from AstraZeneca, Barclays, Unite, L'Oreal, Air Liquide, Orange, Kering, Banca Generali, Terna, Endesa, Grifols, Visa, Marathon Digital, Starbucks, Booking, UnitedHealth, Sofi, Paypal, UPS, Spotify, Merck, Nucor, JetBlue, Procter & Gamble.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

EU and US agreed on a trade deal with 15% tariffs; EU to buy USD 750bln in US energy, and make USD 600bln in investments.EC President von der Leyen later confirmed the 15% rate is for a vast majority of EU exports including cars, semiconductors and pharmaceuticals; 50% tariff on steel and aluminium remains.US and China are expected to extend the trade truce by 90 days, according to SCMP. Reuters suggested that talks are to begin in the “afternoon” in Sweden.European bourses cheer EU-US trade deal, but are off best levels; US futures are modestly higher.DXY picks up and EUR pulls back as participants digest the EU-US trade deal, whilst Antipodeans lag.Bonds were initially hit on the EU-US trade deal, but have since reversed to trade firmer on the session.Crude picks up on trade optimism and into OPEC+ JMMC, gold remains steady.Looking ahead, Dallas Fed Manufacturing Business Index, Treasury Financing Estimates, OPEC+ JMMC, US and China talks in Stockholm, Supply from the US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

EU and US agreed on a trade deal with 15% tariffs; EU to buy USD 750bln in US energy, and make USD 600bln in investments.EC President von der Leyen later confirmed the 15% rate is for a vast majority of EU exports including cars, semiconductors and pharmaceuticals; 50% tariff on steel and aluminium remains.US and China are expected to extend the trade truce by 90 days, according to SCMP.APAC stocks are mixed with Japan lagging due to political uncertainty, US futures are higher (ES +0.5%), Europe set to open firmer (Eurostoxx 50 future +1%).DXY is steady with FX markets broadly contained, EUR/USD remains on a 1.17 handle, USD/JPY failed to hold above the 148 mark.Looking ahead, highlights include Dallas Fed Manufacturing Business Index, Treasury Financing Estimates, OPEC+ JMMC, US and China talks in Stockholm, supply from the US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said he spoke with Fed Chair Powell on rates and the meeting was productive, while he noted that there was no tension and he repeated several times that he believes Powell will do the right thing.European bourses are under pressure but off worst levels, LVMH +4% post-earnings; US futures trade mixed around the unchanged mark.DXY is a touch higher, JPY lags, GBP digests retail sales miss.USTs essentially flat, Bunds weighed on by continued ECB repricing.Gold loses its shine while Crude remains rangebound awaiting the next catalyst.Looking ahead, US Durable Goods, Atlanta Fed GDPNow. Earnings from AutoNation & AON.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said he spoke with Fed Chair Powell on rates and the meeting was productive, while he noted that there was no tension and he repeated several times that he believes Powell will do the right thing.US Treasury Secretary Bessent said the US is in a pretty good place with China on trade, and he will talk to China about them buying sanctioned oil from Russia and Iran.Thailand's acting PM said escalation and progression of military exchanges with Cambodia is moving towards war.APAC stocks were lower after the mixed performance in the US; European equity futures indicate a flat cash market open with Euro Stoxx 50 futures unchanged after the cash market finished with gains of 0.2% on Thursday.Looking ahead, highlights include UK Retail Sales, German Ifo, US Durable Goods, Atlanta Fed GDPNow, ECB Survey of Professional Forecasters, Earnings from SGS, Rightmove, NatWest, Volkswagen, Eni, Centene, AutoNation & AON.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said they will have straight, simple tariffs of between 15% and 50% on countries, while he added the US is in serious talks with the EU and if they agree to open up to US businesses, US will let them pay lower tariffs.European bourses continue to gain, albeit are off best levels; US futures mixed, GOOGL +3%, TSLA -6% in pre-market trade.GBP lags on soft PMIs, EUR eyes ECB and potential EU-US breakthrough.EGBs hit by trade updates, Gilts off lows post-PMIs, USTs await data.Crude rises on trade optimism and geopolitics, gold unwinds risk premium.Looking ahead, Global PMIs, US Jobless Claims, Canadian Retail Sales, ECB & CBRT Policy Announcements, Speakers including RBNZ's Conway & ECB President Lagarde, Supply from the US.Earnings from LVMH, Carrefour, Michelin, Intel, American Airlines, Blackstone, Dow Chemical, Nasdaq, Union Pacific, Honeywell & Keurig Dr Pepper.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said they will have straight, simple tariffs of between 15% and 50% on countries, while he added the US is in serious talks with the EU and if they agree to open up to US businesses, US will let them pay lower tariffs.Reports noted that the US and the EU were closing in on a trade deal with a 15% tariff rate, albeit this is yet to be officially confirmed, and White House Trade Adviser Navarro said to take the reports with a pinch of salt.EU member states are set to vote on EUR 93bln of counter-tariffs on US goods on Thursday and a broad majority of EU members would support using the anti-coercion instrument in the event of no US trade deal and US tariffs of 30%.Alphabet (GOOGL) shares rose 1.7% after-market following earnings whilst Tesla (TSLA) slipped 4.4% as CEO Musk warned of “rough times”.APAC stocks mostly extended on gains; European equity futures indicate a higher cash market open with Euro Stoxx 50 futures up 1.3% after the cash market closed with gains of 1.0% on Wednesday.Looking ahead, highlights include Global PMIs, German GfK Consumer Sentiment, US Jobless Claims, Canadian Retail Sales, ECB & CBRT Policy Announcements, Speakers including RBNZ's Conway & ECB President Lagarde, Supply from Italy & US.Earnings from LVMH, BNP Paribas, TotalEnergies, STMicroelectronics, Dassault Systemes, Carrefour, Michelin, BE Semiconductor, Richemont, Nestle, Roche MTU Aero, Deutsche Bank, Lloyds, IG, Reckitt Intel, American Airlines, Blackstone, Dow Chemical, Nasdaq, Union Pacific, Honeywell & Keurig Dr Pepper.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump announced trade deals with the Philippines, Indonesia and Japan, with the latter involving a USD 550bln investment in the US and 15% tariffs for Japanese goods.Japanese PM Ishiba is likely to announce resignation as early as this month, according to Yomiuri – reports which he later pushed back on.European bourses benefit from the US-Japan trade deal; RTY continues to outperform.USD is flat, Antipodeans are the G10 outperformers whilst the EUR lags a touch; JPY choppy on US-Japan trade deal and reports surrounding PM Ishiba.JGBs slump on trade updates, peers elsewhere lower given the risk tone and into supply.Crude complex choppy awaiting fresh catalysts, XAU takes a breather following recent upside.Looking ahead, US Existing Home Sales, Supply from the US. Earnings from Tesla, Alphabet, ServiceNow, IBM, Chipotle, GE Vernova, Freeport, AT&T, Thermo Fisher Scientific, Lamb Weston, Infosys, Moody's, CME & Hilton.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump announced trade deals with the Philippines, Indonesia and Japan, with the latter involving a USD 550bln investment in the US and 15% tariffs for Japanese goods.US stocks closed mixed with underperformance in tech, APAC stocks were mostly higher; Nikkei 225 outperformed.Japanese PM Ishiba is likely to announce resignation as early as this month, according to Yomiuri. Other reports suggest August-end. European equity futures indicate a positive cash market open with Euro Stoxx 50 future up 1.2% after the cash market closed with losses of 1.0% on Tuesday.DXY is flat, havens (CHF, JPY) lag G10 peers, antipodeans lead, EUR/USD remains on a 1.17 handle.Looking ahead, highlights include EU Consumer Confidence, US Existing Home Sales, Supply from UK, Germany & US.Earnings from VAT, Lonza, Equinor, Thales, Tesla, Alphabet, ServiceNow, IBM, Chipotle, GE Vernova, Freeport, AT&T, Thermo Fisher Scientific, Lamb Weston, Infosys, Moody's, CME & Hilton.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

White House Press Secretary Leavitt said they could see more tariff letters for August 1st.European bourses are in the red and currently trade at session troughs, US equity futures also incrementally lower.DXY is flat awaiting fresh catalysts, whilst Antipodeans lag given the risk-tone.JGBs react to the election, bonds elsewhere have a bearish bias, Gilts lag.Crude moves in lockstep with risk while base metals remain cushioned.Looking ahead, US Richmond Fed Index, NBH Policy Announcement, Speakers including Fed Chair Powell & Bowman, ECB's Lagarde. Earnings from SAP, Intuitive, Capital One, Baker Hughes, Coca Cola, Lockheed Martin, Philip Morris, RTX, DR Horton, Northrop Gruman, Danaher, MSCI & Pulte.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks traded mixed after failing to sustain the early upward momentum seen at the open following the fresh record intraday highs on Wall St.White House Press Secretary Leavitt said they could see more tariff letters for August 1st.European equity futures indicate a lower cash market open with Euro Stoxx 50 future down 0.4% after the cash market finished with losses of 0.3% on Monday.DXY is steady, JPY is the marginal laggard as Japan returns from holiday, EUR/USD failed to hold onto the 1.17 handle.Looking ahead, highlights include US Richmond Fed Index, NBH Policy Announcement, Fed Chair Powell & Bowman, ECB's Lagarde, BoE's Bailey, Supply from UK & Germany.Earnings from Akzo Nobel, ASM International, Dassault Aviation, Julius Baer, Lindt, SAP, Intuitive, Capital One, Baker Hughes, Coca Cola, Lockheed Martin, Philip Morris, RTX, DR Horton, Northrop Gruman, Danaher, MSCI & Pulte.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Japanese PM Ishiba vowed to stay on despite exit polls from the election showing that the ruling coalition lost its majority.EU envoys are set to meet as early as this week to formalise a retaliation plan in the event of a possible no-deal scenario with the US, according to Bloomberg.European bourses are modestly lower, US equity futures are higher with outperformance in the RTY.JPY leads post-election, DXY trundles lower, EUR awaits trade updates.Bonds are boosted after PM Ishiba loses Upper House majority, but not as bad as feared.Choppy trade in crude while base metals are underpinned by China's dam constructionLooking ahead, Canadian Producer Prices, US Leading Index Change, BoC SCE, NZ Trade Balance, Earnings from Verizon, Domino's Pizza & Cleveland Cliffs.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Japanese PM Ishiba vowed to stay on despite exit polls from the election showing that the ruling coalition lost its majority.APAC stocks began the week mostly in the green, markets in Japan were shut for a holiday.EU envoys are set to meet as early as this week to formalise a retaliation plan in the event of a possible no-deal scenario with the US, Bloomberg.European equity futures indicate a lower cash market open with Euro Stoxx 50 future down 0.3% after the cash market finished with losses of 0.3% on Friday.DXY is a touch lower, JPY outperforms post-election, EUR/USD remains on a 1.16 handle.Looking ahead, highlights include Canadian Producer Prices, US Leading Index Change.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Fed's Waller says they should cut by 25bps at the July meeting and thereafter adjust meeting-by-meeting.European bourses are modestly higher whilst US futures take a breather following recent strength.USD a touch softer but still very much up on the week; Antipodeans benefit from the risk tone.USTs are firmer whilst Bunds underperform given the positive risk tone.Base metals bolstered by the risk tone, precious metals benefit despite this but remain in familiar territory.Looking ahead, US Building Permits/Housing Starts, UoM prelim, G20 Finance Ministers Meeting, Speakers include Fed's Waller. Earnings from 3M, American Express, Charles Schwab.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

S&P 500 and Nasdaq 100 hit record highs, Russell 2000 outperformed for the second consecutive day.Fed's Waller says they should cut by 25bps at the July meeting and thereafter adjust meeting-by-meeting.APAC stocks predominantly higher, China shrugged off a 93.5% tariff on graphite; European futures point to a firmer open.DXY rangebound, EUR/USD reclaimed the 1.16 handle, Antipodeans outperformed after Thursday's AUD pressure.Fixed benchmarks marginally higher, JGBs in-fitting into the weekend's Upper House election.Crude holds onto Thursday's upside, XAU rangebound, base metals post mild gains.Looking ahead, highlights include German Producer Prices, US Building Permits/Housing Starts, UoM prelim, G20 Finance Ministers Meeting, Speakers including ECB's Nagel & German Finance Minister Klingbeil, Earnings from 3M, American Express, Charles Schwab, Atlas Copco, Hexpol, Boliden, Skanska, Telia & Danske Bank.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said they are very close to an India deal, could possibly make one with Europe & it is too soon to say re. Canada.European bourses broadly in the green, whilst US equity futures are mixed; TSMC +4% in pre-market trade after Q2 results.USD attempts to recover from Wednesday's Powell/Trump drama; AUD underperforms post jobs data.Fixed benchmarks weighed on by the TSMC-driven risk tone, Gilts underperform after the UK's job data which continued to show a weakening labour market but unlikely to change the BoE's trajectory.Crude briefly boosted on reports of a drone attack on Iraq's Kurdistan oil fields; XAU modestly lower.Looking ahead, US Trade, Jobless Claims, Retail Sales & Atlanta Fed GDPNow, G20 Finance Ministers Meeting, Speakers including Fed's Kugler, Daly, Cook & Waller. Earnings from PepsiCo, GE, Abbott Laboratories, Netflix.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said they are very close to an India deal, could possibly make one with Europe & it is too soon to say re. Canada.US stocks finished higher but with volatile trade amid reports that Trump had drafted a letter to fire Powell; later, Trump denied this.DXY has regained some composure after getting hit on Fed independence concerns, G10s softer with AUD lagging after soft jobs data.USTs ease after Wednesday's upside, JGBs initially followed suit but picked up after the latest JGB liquidity auction.Crude remains afloat, XAU rangebound, base peers lack conviction in contained trade.Highlights include Australian Employment, UK Jobs, EZ HICP (Final), US Trade, Jobless Claims, Retail Sales & Atlanta Fed GDPNow, G20 Finance Ministers Meeting, Speakers including Fed's Kugler, Daly, Cook & Waller, Supply from Spain, France & UK, Earnings from Novartis, Publicis, Volvo, PepsiCo, GE, Abbott Laboratories, Netflix & TSMC.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump says he is working on five to six trade deals and there will probably be two to three deals by August 1st. Also notes that pharma tariffs will probably begin at month-end and initial tariffs on pharmaceuticals will be lowEuropean bourses are mixed having clambered off early morning lows, Autos/Tech lags following results from Renault and ASML.US equity futures trade on either side of the unchanged mark, NQ lags as it digests ASML's results where it walked back on its 2026 growth outlook amid tariff uncertainty.DXY essentially flat awaiting US PPI, GBP digests hot inflation metrics.EGBs slightly heavy into the MMF, Gilts lag on CPI, USTs flat before PPI.Looking ahead, US PPI, Industrial Production & Capacity Utilisation, Speakers including Fed's Barkin, Barr, Cook, Hammack, Logan, Kugler & Williams. Earnings from J&J, PNC, BAC, Goldman Sachs, Morgan Stanley.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks were mostly subdued following the lacklustre handover from Wall St.US President Trump says he is working on five to six trade deals and there will probably be two to three deals by August 1st.European equity futures indicate a marginally softer cash market open with Euro Stoxx 50 futures down 0.2% after the cash market closed with losses of 0.3% on Tuesday.DXY is fractionally softer after gaining again yesterday, EUR/USD has returned to a 1.16 handle, Cable sits sub-1.34 pre-CPI.France's Marine Le Pen warned that if French PM Bayrou does not revise his public spending plan they "will seek to topple him".Looking ahead, highlights include UK CPI, US PPI, Industrial Production & Capacity Utilisation, Fed's Barkin, Barr, Cook, Hammack, Logan, Kugler & Williams, Supply from Germany, Earnings from J&J, PNC, BAC, Goldman Sachs, Morgan Stanley, ASML & Sandvik.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

EU draws up retaliatory tariffs for US goods in case a trade deal is not reached, including aircraft and booze, according to WSJ.European bourses are modestly firmer, US futures also gain with clear outperformance in the NQ boosted by NVIDIA.NVIDIA (+5% pre-market) to resume H20 sales to China and announces new, fully compliant GPU for China.USD a little lower into US CPI, Antipodeans top the G10 pile given the risk sentiment.USTs flat into CPI & Bowman, Bunds lead, OATs await Bayrou & Gilts await Bailey/Reeves.Crude lower but off worst levels on reports that Trump asked if Ukraine are able to hit Moscow with US weapons.Looking ahead, US & Canadian CPI, OPEC MOMR, Bundesbank Monthly Report, Speakers including Fed's Bowman, Barr, Barkin & Collins, BoE's Bailey & UK Chancellor Reeves. Earnings from JPMorgan, Blackrock, Wells Fargo, Citi.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks were ultimately mixed with the region indecisive in the aftermath of the latest Chinese GDP and activity data.European equity futures indicate a marginally higher cash market open with Euro Stoxx 50 future up 0.3% after the cash market closed with losses of 0.2% on Monday.DXY has given back some of yesterday's gains, EUR/USD remains on a 1.16 handle, other majors are contained.EU draws up retaliatory tariffs for US goods in case a trade deal is not reached, including aircraft and booze, according to WSJ.Crude futures remained subdued after US President Trump announced 100% tariffs on Russia and secondary sanctions on other countries that buy oil from Russia if a Ukraine deal is not struck within 50 days.The ECB is to discuss a more negative scenario next week than previously envisaged in June after Trump's latest tariff threat, according to Reuters.Looking ahead, highlights include EZ Industrial Production, German ZEW, US & Canadian CPI, OPEC MOMR, Bundesbank Monthly Report, Fed's Bowman, Barr, Barkin & Collins, BoE's Bailey & UK Chancellor Reeves, Supply from Germany, Earnings from JPMorgan, Blackrock, Wells Fargo, Citi and Ericsson.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump sent trade letters to the EU and Mexico announcing 30% tariffs from August 1st (separate from sectoral tariffs).The EU is planning to "step up engagement" with other nations impacted by US President Trump's tariffs, according to Bloomberg sources.European bourses hampered by US-EU trade developments, US futures also in the red but off worst levels.FX & Fixed markets contained as traders continue to look through Trump tariff threats.Crude modestly boosted by Iran comments, XAU helped by tariff updates.Looking ahead, US President Trump's Comments on Russia, ECB's Cipollone.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump sent trade letters to the EU and Mexico announcing 30% tariffs from August 1st (separate from sectoral tariffs).The EU is planning to "step up engagement" with other nations impacted by US President Trump's tariffs, according to Bloomberg sources.APAC stocks were mostly positive but with some cautiousness seen following US President Trump's tariff letters, while the region also reflected on mixed Chinese trade data.European equity futures indicate a lower cash market open with Euro Stoxx 50 future down 0.6% after the cash market closed with losses of 1.0% on Friday.DXY is marginally firmer, EUR/USD is only slightly softer despite Trump's tariff announcement, other majors are contained.Looking ahead, highlights include US President Trump's Comments on Russia, ECB's Cipollone, supply from the EU.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump announced a 35% tariff for Canada and flagged a potential 20% blanket tariff for other countries; US is set to keep the tariff exemption for USMCA goods, according to a US official.Trump also noted the EU will receive a letter by Friday. Ahead of this, European bourses are in the red with sectors (ex-energy, post-BP) following suit.Stateside, futures are lower into a docket headlined by potential trade developments, ES -0.6%.USD extends on its recent recovery, resilient to trade updates. DXY notched a 97.89 peak, G10s broadly under pressure with the JPY lagging.Fixed was lifted by the above updates, since pulled back and moved into the red, a pullback intensified by a hawkish interview with ECB's Schnabel.Choppy trade for crude awaiting developments on numerous in-play factors, precious metals glean from the risk tone while base peers are tarnished.Looking ahead, highlights include Canadian Jobs, Fitch on Germany, DBRS on Sweden, Speakers including ECB's Cipollone. Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump announced a 35% tariff for Canada and flagged a potential 20% blanket tariffs for other countries; US is set to keep the tariff exemption for USMCA goods, according to a US official.Brazil's President Lula said the main thing is the reciprocity law, and if US charges 50%, they will charge him 50%.US President Trump noted the EU will receive a letter notifying them of new tariff rates by Friday.APAC stocks were ultimately mixed; European equity futures indicate a lower cash market open with Euro Stoxx 50 futures down 0.2% after the cash market finished with losses of 0.1%.Looking ahead, highlights include German WPI, UK GDP Estimate, Canadian Jobs, IEA OMR, Fitch on Germany, DBRS on Sweden, Speakers including ECB's Panetta & Cipollone.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses began with modest gains and have gradually increased, largely led by reports of Chinese housing support.US futures are contained as newsflow has been limited, ex-China, since the overnight tariff developments.DXY is marginally firmer but well within Wednesday's band, G10s flat aside from Antipodeans benefiting from metals action and China support; BRL lags on 50% tariffsFixed benchmarks have been gradually drifting from overnight highs, now essentially flatBase metals glean on reports of Chinese stimulus, precious peers also firmer though action has been more gradualLooking ahead, highlights include US Weekly Claims, Chinese M2/New Yuan Loans, Speakers including Fed's Musalem, Waller & Daly, BoE's Breeden, Supply from the US. Earnings from Delta & Conagra Brands.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump announced tariff rates for seven countries and later announced a 50% tariff for Brazil; President Trump also announced the US is to impose a 50% tariff on copper, effective August 1st.The EU is discussing car import quotas and export credits with the US in trade talks, according to sources cited by Reuters.A muted reaction was seen across markets following the FOMC minutes; FOMC Minutes stated that most saw some reduction in the Fed funds rate this year as appropriate.European equity futures indicate a mildly higher cash market open with Euro Stoxx 50 futures up 0.2% after the cash market closed with gains of 1.4% on Wednesday.Looking ahead, highlights include German CPI final, Norwegian CPI, Swedish GDP, US Weekly Claims, Chinese M2/New Yuan Loans, OPEC WOO, Speakers including Fed's Musalem, Waller & Daly, ECB's Cipollone & BoE's Breeden, Supply from US, Earnings from Delta & Conagra Brands.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump flagged the release of at least 7 tariff letters today. Reports that the EU is closing in on a temporary "framework" agreement, via FT.European bourses began modestly firmer and have been grinding higher since, Euro Stoxx 50 +1.1%; German autos bid on trade nuances, Basic Resources hit by non-US copper performance, Media lags after WPPStateside, futures are in the green and directionally in-fitting with Europe but gains are much more muted, ES +0.2%; updates around AAPL, NVDA, AMZN in focusUSD steady with G10s mixed but essentially flat. RBNZ as expected, no significant NZD move.Fixed benchmarks have a modest upward bias, though they remain markedly lower on the week; today's action in Europe is a retracement of Tuesday's supply-induced pressure rather than a pronounced move higher.Crude has an upward bias, specifics light. XAU softer. Front-running of US copper into potential tariffs has widened the Comex-LME arbitrage to over USD 2,000/t.Looking ahead, highlights include FOMC Minutes, Speakers include ECBʼs Lane, Nagel & de Guindos, Supply from the US.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks traded mixed following the similar performance stateside where tariff updates remained in focus.US President Trump said he will announce something on pharmaceuticals very soon and will be announcing semiconductor tariffs, believes the copper tariff will be 50%.President Trump said the US is probably two days off from sending the EU a letter, which means a deal.European equity futures indicate a slightly higher cash market open with Euro Stoxx 50 future up 0.3% after the cash market closed with gains of 0.6% on Tuesday.DXY is a touch higher with the USD mixed vs. peers (stronger vs. havens, weaker vs. antipodeans).RBNZ maintained the OCR at 3.25%, as expected, hinted at future rate cuts ahead.Looking ahead, highlights include BoE FSR, FOMC Minutes, RBA's Hunter, BoE Governor Bailey, ECB's Lane, Nagel & de Guindos, Supply from UK, Germany & US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said the August 1st tariff deadline is firm, but he is open to other ideas.European bourses began on the front foot, digesting the deadline pushback and reports that the US offered the EU a 10% tariff deal, via Politico.Since, benchmarks have eased off best with the tone now mixed, Euro Stoxx 50 +0.1%. Stateside, non-tariff updates limited, ES +0.1%.DXY is giving back some of Monday's gains. AUD outperforms on a surprise RBA hold. EUR and GBP both firmer, but off best.Fixed benchmarks hit by the tariff deadline extension and a packed supply docket.Crude in the red but within familiar ranges, pressure intensified on reports that Doha talks recommenced. Metals follow the risk tone.Looking ahead, highlights include US NY Fed SCE, NFIB Business Optimism, EIA STEO, ECB's Nagel & de Guindos, Supply from the USClick for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump sent tariff letters to 14 countries, including Japan, South Korea, South Africa, and Thailand, with tariff rates ranging between 25%-40%.Trump also warned against retaliation, although he also delayed the tariff deadline to August 1st - leaving room for negotiation.APAC stocks mostly traded with cautious gains as participants digested the Trump letters; Wall Street closed lower.RBA defied the broad consensus and instead decided to pause on rates through a 6-3 majority vote.European equity futures indicate a lower cash market open with Euro Stoxx 50 futures down 0.2% after the cash market closed with gains of 1.0% on Monday.DXY is steady, AUD is the clear outperformer across the majors, USD/JPY sits on a 146 handle.Looking ahead, highlights include German Trade, US NY Fed SCE, NFIB Business Optimism, EIA STEO, RBA's Bullock, ECB's Nagel & de Guindos, Supply from Netherlands, UK, Germany & US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said 12 nations will receive tariff letters on Monday (deliveries to start from 17:00BST). Also, threatened 10% additional tariff for those aligned with BRICS.US Treasury Secretary Bessent said letters to trading partners will notify them that if no deal is reached, they will revert to April 2nd tariff levels; tariffs to take effect on August 1st.European bourses began the day with modest gains but action is tentative, Euro Stoxx 50 +0.3%; ES -0.4% amid trade uncertainty, NQ -0.5% underperforms on TSLA -6.5%USD firmer vs all major peers. Antipodeans hit by the tone, JPY on the USD strength and soft domestic wage data, Cable below 1.36 and EUR/USD at a 1.1723 lowFixed benchmarks contained and experiencing two-way trade into the tariff letters, USTs near-enough unchanged, Bunds lower but off worstCrude began on the backfoot after OPEC+ eight agreeing to increase output by 548k (prev. 411k); since, benchmarks off lows and modestly firmer. Metals dented by the USD.Looking ahead, highlights include supply from the UK (BoE Gilt sale), US President Trump meeting Israeli PM Netanyahu & US tariff lettersClick for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks were mostly subdued with the region cautious ahead of upcoming key events, including central bank announcements and the July 9th tariff deadline.US President Trump said 12 nations will receive tariff letters on Monday (deliveries to start from 17:00BST). Also, threatened 10% additional tariff for those aligned with BRICS.US Treasury Secretary Bessent said letters to trading partners will notify them that if no deal is reached, they will revert to April 2nd tariff levels; tariffs to take effect on August 1st.European equity futures indicate a quiet open with Euro Stoxx 50 future flat after the cash market closed with losses of 1% on Friday.DXY has kicked the week off on the front foot, antipodeans lag alongside the soft risk tone, EUR/USD remains on a 1.17 handle.Crude pressured after OPEC+ accelerated its output hike with an increase of 548k bpd for August (prev. 411k bpd increase).Looking ahead, highlights include German Industrial Output, Swedish CPIF (Flash), EZ Sentix & Retail Sales, BoE Gilt sale operation.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said they will start sending letters regarding tariffs and 10 to 12 countries will get a letter on Friday, with tariffs to range from 10%-20% and 60%-70%, while countries are to start paying the new tariff on August 1st.US Treasury Secretary Bessent said to expect a flurry of trade deals before July 9th and expect to see about 100 countries get a minimum 10% reciprocal tariff, while he added they are going to be announcing several deals.US House voted 218-214 to pass President Trump's sweeping tax cut and spending bill, sending it to President Trump to sign into law, while the White House said Trump will sign the bill on Friday at 17:00EDT/20:00BST.APAC stocks traded mixed with gains limited; European equity futures indicate a negative cash market open with Euro Stoxx 50 futures lower by 0.5% after the cash market closed with gains of 0.5% on Thursday.Looking ahead, highlights include German & French Industrial Orders, EZ, UK Construction PMI, Italian Retail Sales, EZ Producer Prices, Speakers include BoE's Taylor, ECB President Lagarde & Elderson, US Independence Day Holiday.Desk Schedule: The desk will shut for the week at 18:00BST/13:00EDT amid the US market holiday.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses began the session firmer, but that strength has waned to more mixed trade; US futures similar into a packed agendaDXY broadly flat intraday but with a marginal upward bias. G10s contained, but generally softer. GBP outperforms after Wednesday's post-PMQs pressure.Similarly, Gilts lead fixed income. USTs await data. Bunds unreactive to Final PMIs.Crude benchmarks softer, despite limited newsflow. Metals mixed, XAU off highs and fading as the USD picks up slightly.US Reconciliation Bill passed the Rules vote, awaiting full vote; timing unclear, dependent on the Minority Leader, but should be in the next hour(s).Looking ahead, highlights include US PMIs (Final), US NFP, International Trade, Jobless Claims, ISM Services, Canadian Trade, ECB Minutes. Speakers include Fedʼs BosticDesk Schedule: On Thursday 3rd July, the desk will shut at 18:15BST/13:15EDT due to the US Independence Day. The service will resume on Thursday 3rd July for the beginning of Asia-Pac coverage at 22:00BST/17:00EDT.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks failed to sustain the mostly constructive handover from Wall St counterparts with sentiment in the region cautious as participants braced for the key US jobs data and digested Chinese Caixin Services and Composite PMIs.Siemens confirmed it has been notified by the US Commerce Department that export control restrictions on EDA software and technology to customers in China are no longer in place.US House Republicans were reportedly stuck and didn't have the votes for the rule, while Republicans had told members to go back into their offices and a vote on the rule didn't look imminent, according to Punchbowl.UK PM Starmer said Rachel Reeves will be the Chancellor for years to come and will be the Chancellor at the next election.European equity futures indicate a marginally positive cash market open with Euro Stoxx 50 futures up 0.2% after the cash market closed with gains of 0.7% on Wednesday.Looking ahead, highlights include EZ, UK, US PMIs (Final), Swiss CPI, US NFP, International Trade, Jobless Claims, ISM Services, Canadian Trade, ECB Minutes & BoE DMP, Speakers including BoJ's Takata & Fed's Bostic, Supply from Spain & US Refunding Announcement.Desk Schedule: On Thursday 3rd July, the desk will shut at 18:15BST/13:15EDT due to the US Independence Day. The service will resume on Thursday 3rd July for the beginning of Asia-Pac coverage at 22:00BST/17:00EDT. Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses in the green, shrugging off a mixed APAC lead. US futures post modest gains, RTY outperformsUSD attempts to atone for recent pressure. DXY eyes 97.00 to the upside, JPY lags, EUR and GBP both hitFixed in the red, Gilts lag after the UK Welfare Reform u-turn. USTs await data and fiscal updatesUS House set to convene at 09:00ET, Punchbowl reports several sources expressing alarm at the number of no's from lawmakersCrude in the green and despite light newsflow continue to climb, metals mixedLooking ahead, highlights include US Challenger Layoffs, ADP National Employment, Canadian Manufacturing PMI, NBP Policy Announcement, ECBʼs Lane & Lagarde.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks were mixed following a similar handover from the US where participants digested data, trade commentary and a slew of central bank rhetoric.US President Trump said he doubts the US will have a deal with Japan but will possibly have an agreement with India.US Senate narrowly passed President Trump's sweeping tax and spending bill; House to vote by Thursday "at the latest".European equity futures indicate a positive cash market open with Euro Stoxx 50 futures up 0.6% after the cash market closed with losses of 0.4% on Tuesday.DXY is modestly firmer, JPY narrowly lags on negative trade headlines, EUR/USD is lingering just below the 1.18 mark.Looking ahead, highlights include EU & Italian Unemployment Rate, US Challenger Layoffs, ADP National Employment, Canadian Manufacturing PMI, NBP Policy Announcement, ECB's de Guindos, Cipollone, Lane, Lagarde & BoE's Taylor, Supply from UK & Germany.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US Senate vote-a-rama is still ongoing, Thune suggests we are "getting to the end", unclear if he has enough votesEU reportedly wants immediate relief in any US deal, said to be accepting universal tariffs but is seeking key exemptionsRisk tone began firmer after strong Chinese data; thereafter, deteriorated into and through the European morningUS futures in the red, ES -0.2%, awaiting updates on the Reconciliation Bill, Chair Powell and a packed data docketUSD continues to fall. JPY and CHF lead, fixed bid, XAU higher.EUR and EGBs unreactive to as-expected flash HICP and numerous ECB speakers who have focused on EUR strengthLooking ahead, highlights include US Manufacturing PMIs, ISM Manufacturing, JOLTS Job Openings, ECB Central Banking Forum, Speakers including ECB's Schnabel & Lagarde, Fed's Powell, BoJ's Ueda, BoE's Bailey & BoK's Rhee. Earnings from Constellation Brands. Holiday closures in Hong Kong & Canada.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks began the new quarter mostly higher, albeit with gains tentative; Wall Street closed higher.The Senate vote-a-rama process is ongoing before a final version is sent back to the House to approve the bill, before then sending it to Trump's desk.EU is to accept Trump's universal tariff but seeks key exemptions and wants the US to commit to lower rates on key sectors, according to Bloomberg.European equity futures indicate an uneventful cash market open with Euro Stoxx 50 future +0.1% after the cash market closed with losses of 0.4% on Monday.DXY is steady, EUR/USD briefly ventured onto a 1.18 handle, USD/JPY marginally extended on its downside.Looking ahead, highlights include EZ, UK & US Manufacturing PMIs, German Unemployment Rate, EZ HICP, US ISM Manufacturing, JOLTS Job Openings, ECB SCE & Central Banking Forum, Speakers include ECB's de Guindos, Elderson, Schnabel & Lagarde, Fed's Powell, BoJ's Ueda, BoE's Bailey & BoK's Rhee.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

A firmer start to the week Stateside, ES +0.4%, as markets focus on the progress of Trump's Bill; however, Europe is more contained, Stoxx 600 +0.1%, as the reciprocal deadline nears.US Senate voted to begin debating the Reconciliation Bill; vote-a-rama not expected to start until 09:00ET today, as such the House will not vote until Wednesday at the earliest, via Fox's Pergram.DXY has kicked off week-, month-, quarter- & H1-end on a mildly negative footing, though the magnitude of this has dissipated across the morning. EUR contained, JPY outperforms, GBP softer.Fixed benchmarks were contained overnight before EGBs picked up on numerous German data points.Crude benchmarks are in the red but only modestly so, updates continue on the geopolitical front, with Trump saying he is not offering Iran anything.Looking ahead, highlights include US Chicago PMI, Speakers including ECB's de Guindos & Lagarde, Fed's Bostic & Goolsbee.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks began the week mostly in the green following last Friday's record highs on Wall St; participants digested a slew of data including mixed Chinese PMIs.US and Canada agreed to resume negotiations with a view towards reaching a deal by July 21st after Canada rescinded the Digital Services Tax.The Senate is set to vote on Trump's sweeping tax cut and spending bill on Monday following a 51-49 vote to open the debate on the bill.European equity futures indicate a positive open with Euro Stoxx 50 future up 0.3% after the cash market closed with gains of 1.6% on Friday.DXY has kicked the week off on the backfoot but holding above Friday's low, JPY outperforms, EUR/USD sits on a 1.17 handle.Looking ahead, highlights include UK GDP (Q1 final), German Import Prices, Retail Sales & CPI, Italian CPI, US Chicago PMI, ECB's de Guindos & Lagarde, Fed's Bostic & Goolsbee.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US Commerce Secretary Lutnick stated that several deals will be announced in the coming week, with the Europe deal expected at the end.Punchbowl reports that Republican Senators say voting on the Reconciliation Bill will not begin until Saturday at the absolute earliest.European bourses benefit from a flurry of US-EU trade updates, US futures gain modestly into PCE.DXY extends its losing streak for a fifth session as PCE looms.USTs are under modest pressure with Bunds also hampered following French/Spanish inflation figures.Crude is firmer & XAU slips given the risk tone but base metals fail to benefit.Looking ahead, US PCE, UoM Survey Final, Fed's Williams, Hammack; ECB's Cipollone.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said he just signed a deal with China on Wednesday; it was later clarified that the US and China have agreed to an additional understanding to implement the Geneva agreement.US Commerce Secretary Lutnick stated that several deals will be announced in the coming week, with the Europe deal expected at the end.Iranian Foreign Minister Araqchi said Tehran is assessing whether diplomacy with the US is in its interest, adding that there is currently no understanding for renewed talks with the US.APAC stocks traded mostly firmer for a bulk of the session following gains on Wall Street, before waning off best levels to trade mixed.European equity futures are indicative of a firmer open - catching up to some of the late Wall Street gains - with the Euro Stoxx 50 future +0.5% after cash closed -0.2% on Thursday.Looking ahead, highlights include French CPI, Spanish HICP, Retail Sales, EZ Business Climate, Italian Industrial Sales, US PCE, UoM Survey Final, Fed's Williams, Hammack; ECB's Cipollone, and Supply from Italy. Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump may accelerate the announcement of a successor to Fed Chair Powell, according to WSJ sources.Chinese state planner official said with policy implementation and introduction, "we are confident and capable of minimising the adverse impacts from external shock", according to Reuters.Micron (MU) said there may have been some tariff-related pull-ins by certain customers; customer inventory levels have been healthy overall across end markets.European & US indices trade modestly higher, ES +0.3%; Shell has “no intention” of making an offer for BP.DXY hammered amid reports Trump is to name a Powell successor early; a report which has also weighed on US yields.Crude trims initial gains, metals glean strength from the dovish Fed source report, USD weakness and Chinese commentary.Looking ahead, US Durable Goods, GDP Final (Q1), PCE (Q1), Jobless Claims, National Activity Index, Advance Goods Trade Balance, Wholesale Inventories, Banxico Policy Announcement, ECB's de Guindos, Schnabel, Lagarde; BoE's Bailey; Fed's Daly, Barkin, Hammack, Barr, Kashkari, Supply from the US, Earnings from Walgreens, Nike.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks traded mixed in choppy fashion following a similar session on Wall Street, with overnight newsflow relatively light as Israel and Iran seemingly continued to observe the ceasefire.US President Trump may accelerate the announcement of a successor to Fed Chair Powell, according to WSJ sources.Chinese state planner official said with policy implementation and introduction, "we are confident and capable of minimising the adverse impacts from external shock", according to Reuters.HKMA bought HKD 9.42bln as the Hong Kong dollar hit the weak end of its trading range, marking the first such intervention since 2023 to defend the currency peg.Micron (MU) said there may have been some tariff-related pull-ins by certain customers; customer inventory levels have been healthy overall across end markets.Looking ahead, highlights include German GfK Consumer Sentiment, US Durable Goods, GDP Final (Q1), PCE (Q1), Jobless Claims, National Activity Index, Advance Goods Trade Balance, Wholesale Inventories, Banxico Policy Announcement, ECB's de Guindos, Schnabel, Lagarde; BoE's Bailey, Breeden; Fed's Daly, Barkin, Hammack, Barr, Kashkari, supply from US, Earnings from Walgreens, Nike, H&M.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Fox's Gasparino posted that Team Trump said it was close to announcing a handful of trade deals. The major ones the White House claimed progress on involved Japan, South Korea, and Vietnam.European bourses are mixed in quiet newsflow whilst US futures hold around the unchanged mark.USD looks to claw back recent losses. EUR/USD pulls back from multi-year high.USTs await Powell part 2 and details from the NATO summit; Bunds are pressured and currently towards session lows.Crude bid but still at the trough of recent parameters, metals marginally firmer.Looking ahead, US Building Permits, CNB Policy Announcement; NATO Summit, Fed SLR meeting, BoE's Lombardelli; Fed's Powell; US President Trump, Supply from the US, and Earnings from General Mills, Paychex, Micron.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks traded stronger following the firm lead from Wall Street, with gains capped as traders were cautious amid the fragility of the Israel-Iran ceasefire.Geopolitical newsflow was relatively light in APAC hours, with no hostile incidents seen between Israel and Iran; “There have been no [US] sanctions lifted on Iran,” said Fox Business' Lawrence, in reference to President Trump's post suggesting China could continue to buy oil from Iran.Fed Chair Powell said they would expect to see meaningful inflation effects from tariffs in June, July, and August. He added that if those effects failed to materialise, it could lead to an earlier rate cut.BoJ board member Tamura said that if upward price risks heightened, the BoJ could face a situation where it would need to raise rates decisively, even if uncertainty remained high, adding that he does not see 0.5% as a barrier for BoJ rate hikes.Fox's Gasparino posted that Team Trump said it was close to announcing a handful of trade deals. The major ones the White House claimed progress on involved Japan, South Korea, and Vietnam.Looking ahead, highlights include US Building Permits, CNB Policy Announcement; NATO Summit, Fed SLR meeting, BoE's Lombardelli, Pill, Greene; Fed's Powell; US President Trump, Supply from Italy, UK, US, and Earnings from General Mills, Paychex, Micron, Babcock.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk