The USD was mixed and little changed vs the major currencies.
Looking at the changes for the USD:
- EUR -0.16%
- JPY: +0.17%
- GBP -0.17%
- CHF -0.07%
- CAD Unchanged
- AUD +0.18%
- NZD -0.17%
The US dollar saw marginal selling on Monday amid thin liquidity due to US and UK holidays. Among major currencies, NZD, EUR, and GBP were the strongest performers (USD fell), while JPY and AUD lagged slightly (USD was higher).
Market sentiment was lifted by President Trump’s announcement of a delay in the 50% EU tariff deadline to July 9, which supported risk assets and contributed to modest USD weakness. It was on Friday, that Trump posted he “recommended” (to who? I don’t know), the EU be hit with the tariffs starting on June 1. After a discussion with EU Commision President Ursula von der Leyen, he commented “it was my privilege to” extend the tariff deadline.
The US stock and bond markets were closed.
European indices closed mostly higher on the day on the tariff reprieve.
The final numbers are showed:
- German Dax, +1.68%
- France’s CAC, +1.21%
- UK FTSE 100, -0.24%
- Spain’s Ibex, +0.83%.
- Italy’s FSE MIB 1.20%
In other geopolitical news, Pres. Trump called Russia’s Puting crazy following weekend drone attacks. The Kremlin responded by claiming Donald Trump was showing signs of “emotional overload”.
The new trading day will have UK and US traders back to full staffs.
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