FXO 26-05

With it being a UK and US holiday, it is akin to an extended weekend for markets in general. As such, there aren't any major expiries to take note of on the day. That said, the big news over the weekend comes from Trump's flipping and flopping over EU tariffs. On Friday, he said that he will be pressing the EU with 50% tariffs on 1 June. Then now, he's saying that he will leave it to 9 July with negotiations in the meantime. So, that is what's driving trading sentiment to start the week.

Given the lack of other items on the agenda today, it's all about headline risk before things pick up tomorrow ahead of month-end.

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Source: Forex Live