US June NFIB small business optimism index 98.6 vs 98.7 expectedGerman finance minister says EU ready to hit back if can't reach a fair deal with USUN trade agency warns of further instability caused by new trade war deadlineFrance May trade balance -€7.76 billion vs -€8.25 billion expectedJapan trade negotiator Akazawa says cannot tolerate 25% tariffs on autosRBA's Bullock: Our communication strategy is not failingGermany May trade balance €18.4 billion vs €15.5 billion expectedJapan trade negotiator Akazawa says had phone call with US commerce secretary LutnickRBA's Bullock: People got too excited about mention of 50 bps in May meetingRBA's Bullock: We want to be sure on inflationRBA's Bullock: It is appropriate to have a cautious, gradual stance on easingRBA leaves cash rate unchanged at 3.85% in latest policy decisionFX option expiries for 8 July 10am New York cutTaiwan says haven't received notice from US regarding tariffs yet
We haven't got any other meaningful news after the RBA but just the same old tariff headlines like the German finance minister threatening to hit back if they won't reach a fair deal with the US or the Japanese negotiator delivering some token remarks on trade talks with the US.
The US dollar remains supported after the better than expected NFP report last week, but we haven't really seen a sustained trend yet. Maybe, the US CPI next week could provide that but we will need hot figures.
The American session doesn't look like it's going to be any better in terms of the newsflow but we should get more letters and/or trade deals before tomorrow's deadline.
This article was written by Giuseppe Dellamotta at www.forexlive.com.
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