Markets are experiencing a quiet day on May 26 due to holidays in both the UK and the US, making it feel like an extended weekend. As a result, there are no significant FX option expiries to watch today.
The main focus for traders is the recent shift in US President Donald Trump’s stance on tariffs against the European Union. Last Friday, Trump announced plans to impose 50% tariffs starting June 1.
However, over the weekend, he delayed this decision to July 9 to allow time for negotiations. This change is influencing market sentiment as the week begins.
With little else on the agenda today, investors are mainly watching for headline news before activity picks up again tomorrow ahead of the month-end.