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Analysts at Danske Bank suggest that the market focus continues to be on the US-China trade spat as we have now entered what we would call a trade war as the tit-for-tat reactions are escalating.

Key Quotes

“The next key dates to watch out for are 30 June (when Trump announces restrictions on Chinese investments into the US and export controls on US tech products to China) and 6 July (when Chinese tariffs on US begins, and Trump has said it will lead to further tariffs on Chinese products worth USD200bn).”

“It will be an interesting day at the ECB Sintra conference, with the key event being the panel at 15:30 CEST, which includes ECB President Mario Draghi, Fed Chairman Jerome Powell and Bank of Japan Governor Haruhiko Kuroda.”