U.S. Core Durable Goods Orders, CB Consumer Confidence

The euro started the week on a strong note, with EUR/USD pair ending a second consecutive session with gains amid optimism around US-EU trade tensions. However, the pair has since pared gains yesterday as markets digest recent developments and remain subdued due to the US Memorial Day holiday.

On Friday, President Donald Trump reignited concerns by threatening 50% tariffs on EU imports starting June 1, citing stalled negotiations. However, a weekend phone call with European Commission President Ursula von der Leyen led to a postponement of the tariff decision to July 9, temporarily easing market anxieties.

Meanwhile, European Central Bank President Christine Lagarde suggested the euro could eventually rival the dollar as a global reserve currency—provided that the EU strengthens its financial and security framework.

On the US monetary policy front, Minneapolis Fed President Neel Kashkari warned that tariff-related uncertainty is clouding the economic outlook, noting that the central bank remains in a "wait-and-see" stance ahead of the September meeting. He added that tariffs pose a stagflationary risk, complicating the Federal Reserve’s path forward.

As the new week unfolds, the euro continues to benefit from dollar softness and easing trade tensions, but investors remain cautious amid ongoing geopolitical and monetary policy uncertainty.

Bitcoin edged lower early on Tuesday, trading in a tight range following last week’s all-time high, as market attention turned to the highly anticipated Bitcoin 2025 Conference set to begin later today in Las Vegas.

Early Tuesday's retreat reflects profit-taking and large-volume ‘whale’ trades, which typically emerge at elevated price levels.

Despite the pullback, the world’s largest cryptocurrency remains close to its highs, supported by regulatory tailwinds and growing institutional interest. Last week’s rally was bolstered by major policy developments in both the U.S. and Hong Kong, where lawmakers advanced new frameworks to regulate stablecoins, a key component of the crypto ecosystem.

In Washington, the Senate progressed on the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins), a move seen as a step toward regulatory clarity. Concurrently, Hong Kong passed landmark legislation, establishing a licensing regime for fiat-referenced stablecoin issuers—signaling the region’s ambition to become a crypto hub.

Investor sentiment also improved on reports that major U.S. banks may launch a joint stablecoin initiative, underscoring the growing acceptance of crypto on Wall Street.

Attention now turns to the Bitcoin 2025 Conference, which kicks off May 27 at the Venetian Expo in Las Vegas. The event is expected to be the largest ever, drawing over 30,000 attendees, with more than 400 speakers and participation from 5,000 companies across the crypto and financial sectors.

With Bitcoin trading near all-time highs, the conference could act as a fresh catalyst, fueling renewed momentum and drawing further institutional and retail interest.

Oil prices held firm on Monday as markets awaited clarity from upcoming OPEC+ meetings and absorbed the impact of shifting geopolitical developments.

The market digested news that eight OPEC+ members, who had previously committed to voluntary output cuts, have moved their in-person meeting forward to May 31, one day earlier than initially scheduled. This gathering is separate from the online OPEC+ ministerial session slated for May 28, where broader strategic output policy will be discussed.

Earlier in the session, both crude benchmarks traded higher after U.S. President Donald Trump announced a delay in planned tariffs on European Union goods, pushing the deadline to July 9. The move helped ease concerns about reduced fuel demand amid escalating trade tensions, contributing to a modest risk-on sentiment in global markets. Stocks rallied, and the euro strengthened on the news.

Trump also signaled the possibility of new sanctions against Russia, following what he described as the largest aerial assault of the war on Ukraine. In a social media post, the former president said Vladimir Putin had "gone absolutely crazy", adding to geopolitical uncertainty that has intermittently supported crude prices.

As investors await tangible supply signals from OPEC+, the oil market remains in a holding pattern, cautiously watching for any firm policy moves or shifts in global demand expectations.

U.S. stock index futures climbed sharply on Monday evening, buoyed by investor relief after President Donald Trump postponed proposed tariffs on the European Union, easing immediate trade concerns that had rattled markets late last week.

Trading activity remained muted due to the Memorial Day holiday, but futures pointed to a recovery after Wall Street’s broad decline on Friday.

Investor sentiment improved following Trump's Sunday announcement that he would delay a planned 50% tariff on EU goods until July 9. The decision followed a reportedly constructive call with European Commission President Ursula von der Leyen, during which both sides agreed to begin formal trade talks.

The move helped ease fears triggered on Friday when Trump unexpectedly threatened steep tariffs on EU imports, a move that sent equities tumbling and Apple Inc. shares sliding 3%, after the president suggested smartphones should be made domestically.

Investor focus this week now shifts to Nvidia Corporation , which is set to report fiscal Q1 earnings after the close on Wednesday. The chipmaker is widely viewed as a bellwether for the artificial intelligence boom, and its results are expected to offer vital clues on the trajectory of AI-driven spending.

As trading resumes in full force this week, investors will look to geopolitical signals and corporate earnings—particularly from Nvidia—for direction in a market increasingly sensitive to both policy shifts and tech-sector performance.