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Forexlive European FX news wrap: Awaiting Trump’s tariff letters

Bessent: We are going to have several trade announcements in the next 48 hours

What are the interest rate expectations for the major central banks?

EU says have made good progress on trade talks with the US

Eurozone May retail sales -0.7% vs -0.7% m/m expected

UBS expects the ECB to cut its key policy rates in July

Eurozone July Sentix investor confidence 4.5 vs 1.1 expected

Crude oil remains rangebound despite the output hikes

US dollar holds firmer so far on the day

SNB total sight deposits w.e. 4 July CHF 459.8 bn vs CHF 460.7 bn prior

OPEC+ will likely approve another output increase of around 550,000 bps for September

ECB’s Nagel: German fiscal policy impulses to outweigh effect of tariffs