As the tension from the Iran/Israel conflict abates for the time being, the focus returns to light trade and Powell and in the economy.
We know about Powell. Trump wants rates down to 1%. Powell meanwhile is happy where rates are now and is concerned about the inflationary impact of the tariffs in June, July, and August. Trump sent him a handwritten note on top of world central-bank rates showing that US was 35 spots from the lowest and said that rates should be at 1%..
On trade, the White House is saying that we should hear about trade deal with India very soon. They also said that Trump is meeting with trading this week to set country rates ahead of the July 9 deadline.
The White House is saying that this Carney caved in on trumps digital services tax with his call on Sunday night.
In addition to trade and Powell, the big, beautiful deal is in its final stages. The Senate started the marathon of votes as the Republicans work to pass Trump's spending package by July 4.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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