In view of analysts at Danske Bank, the US-China trade war might be entering a quiet phase after the recent round of escalation.
“The next thing to look for is any news on more Chinese stimulus and more specific information on when the next round of talks in Beijing could take place. While things may calm down for now, we still see a risk of another flare-up later as the two sides seem far from each other on the final critical bits of the deal. More financial stress is needed, in our view, to get enough pressure to reach a deal.”
“On the data front it is a very light day. We have the final euro area HICP for April out, where we see scope for an upward revision in both core and headline inflation by 0.1pp.”
“In the afternoon the US releases preliminary consumer confidence for May from the University of Michigan. We also have the Fed's Williams (voter, neutral) speaking tonight.”
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