US futures have begun trading on Globex for the new week.
The big weekend news was Trump’s tariffs:
Since then:
- Germanys Merz will work closely with Macron, von der Leyen to resolve trade ahead of Aug 1
- EU extends pause on US trade retaliation to allow more talks
The earlier reaction was, of course, in FX. Whoesale FX markets begin to open in early New Zealand trade, hours ahead of Globex opening.
The USD gapped up, only small, as expected:
The gap is being closed, also as expected.
EUR/USD update:
This article was written by Eamonn Sheridan at www.forexlive.com.