It's going to be another day when the data doesn't matter at all as it's all old news and the market remains focused on tariff negotiations. We have the FOMC Minutes and the 10y auction late in the day, and although the minutes will be ignored, the auction might get some interest given the spike in long term yields.

The tariffs went into effect early in the day and the lack of another aggressive selloff in the markets could be taken as positive at the margin. Everyone is waiting for some good news on the negotiations front and this hope is probably what keeps the market from tanking further. More bad news/disappointments could keep weighing on the sentiment.

Central bank speakers:

  • 12:30 GMT/08:30 ET - ECB's Cipollone (dove - voter)
  • 16:30 GMT/12:30 ET - Fed's Barkin (neutral - non voter)
Source: Forex Live