Markets soften following EU Tariff softening

Collinson FX: May 28: Markets soften following EU Tariff softening
by Collinson FX 28 May 14:21 PDT
29 May 2025

May 28: Markets soften

Markets were softer overnight, after posting big gains in the previous session, due to the delay in EU sanctions.

German and EU Consumer Confidence remains in the doldrums, while French Q1 GDP growth was conveniently 0.1%, there by marginally missing technical recession territory. It is the trends in the data that reveal the story, as actual numbers are open to manipulation, as seen in the last few years in the USA. The US Dollar regained some ground, with the EUR slipping below 1.3000, while the GBP retraced to 1.3450.

The RBNZ acting in line with expectations and cut rates a further 25 basis points, in an attempt to stimulate the faltering economy. The RBNZ have cut 225 basis points, since the loosening in monetary policy began, but now face the threat of resurgent inflationary pressures. Recent data has pointed to growing inflationary pressures, with costs on the rise, while the Central Bank warned of further pressures from the ongoing global trade wars. The latest inflation report in Australia showed inflation was no longer in retreat.

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