European stock exchanges grow on news of US tariff postponement
Oleg Kalmanovich Europe is in the green: Trump postpones tariffs
European indices are growing: DAX +1.4%, CAC 40 +1.0%. Reason - Donald Trump postponed the introduction of 50% tariffs on goods from the EU - now until July 9. The decision followed a conversation with Ursula von der Leyen, who announced her readiness for "decisive" negotiations.
Citi raises gold target
The bank raised its short-term target to $3,500/oz (was $3,300). The reasons are the growth of trade tensions and geopolitics. The forecast for platinum and palladium remained the same: $1,050 and $900, respectively.
Key events of the current week:
US and UK: Holiday Monday
On Monday, May 26, US and UK markets are closed due to holidays, which may lead to reduced liquidity and volatility in the markets.
FOMC Minutes
On Wednesday, May 28, the minutes of the latest FOMC meeting will be released. It is expected that they will confirm the regulator’s intention to wait with changing interest rates until more data on inflation and economic growth is received.
Nvidia Report
Also on Wednesday, May 28, Nvidia will publish its quarterly report. Revenue is expected to grow by 66% to $43.3 billion, despite a $5.5 billion write-down due to restrictions on exports to China.
Investor's Business Daily
PCE Price Index for April
On Friday, May 30, the PCE Price Index for April will be released. Growth of 0.1% m/m and 2.6% y/y is expected, which is in line with the Fed's inflation target and should not significantly impact markets if the data comes out in line with the forecast.
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