Investors' attention today will once again turn to the issue of tariffs. The US president has stated that countries supporting the BRICS alliance policy, which is contrary to US interests, will be subject to an additional unconditional 10% tariff.
In addition, Trump administration officials have confirmed the extension of negotiations on tariffs. Treasury Secretary Scott Bessent said that if no agreement is reached, tariffs will return to their April 2 levels on August 1.
Trump has announced that letters regarding tariffs and/or agreements will be delivered on July 7 at 12:00 p.m. ET (6:00 p.m. CEST time).
As for macro data, we will not learn much today. A detailed calendar for the day is provided below:
Daily summary: exceptionally low US trade deficit; dollar remains strong 📌
NY Fed Survey: higher inflation expectations, but also higher equity price expectations 📄🔎
BREAKING: EURUSD reacts to US jobless claims & labor costs data 🗽
BREAKING: PPI in Eurozone higher than expected, unemployment falls
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