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:
ECB Minutes: Peak Impact of Euro Strength on Inflation Yet to Come 🇪🇺
Economic calendar: Central banks vs global risks to inflation (05.03.2026)
Strong Service ISM Reading as activity expanded most since 2022
BREAKING: Stronger than expected ADP fails to support the dollar 🇺🇸