Today is kind of a synthetic Sunday since we basically have nothing on the agenda. In terms of economic data, there’s only the Eurozone Retail Sales report but it’s rarely market-moving.
The focus today will be on Trump’s letters on tariff rates. Trump said he could send 12 or 15 letters today and that he would have a trade deal or letter with most nations by the July 9 deadline.
These tariff rates will go in effect on August 1. So, we have yet another deadline. Trump has been playing this game since the very beginning as it’s been his negotiating strategy. Therefore, the market will likely take it as another “TACO” thing until August 1 even if we see higher rates in the next days.
This article was written by Giuseppe Dellamotta at www.forexlive.com.
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