Today’s Key Events: 11:30 AM IST - EUR Consumer Confidence (Jun): Following a slight improvement in May’s Consumer Confidence to -15.2, surpassing expectations of -16.0, June’s data will be crucial. A continued uptick could further bolster the Euro, which has recently been viewed as a safe-haven alternative to the U.S. dollar, especially after President Trump’s tariff delay on EU goods until July 9.

12:15 PM IST - EUR Inflation Rate YoY (May): Inflation data for May will shed light on price pressures in the Eurozone. With the European Central Bank’s recent rate cuts aimed at stimulating demand, a higher-than-expected inflation rate could temper expectations for further easing, potentially strengthening the Euro further.

1:30 PM IST - EUR Bank Austria Manufacturing PMI (May): This PMI will provide insights into the Eurozone’s manufacturing sector, which showed signs of recovery in March with output rising for the first time in two years. A strong reading could reinforce the Euro’s bullish momentum, especially amid easing tariff concerns.

6:00 PM IST - USD Durable Goods Orders ex Defense MoM (Apr): This indicator will reflect U.S. manufacturing health. With the U.S. dollar already under pressure—sliding to its lowest level in nearly two years per recent Bloomberg reports—a weaker-than-expected figure could exacerbate the dollar’s decline, further fueling risk-sensitive currencies like AUD and NZD.

7:30 PM IST - USD CB Consumer Confidence (May): U.S. consumer sentiment has been volatile, dropping to an 18-month low in April amid tariff-related fears. A rebound in confidence could provide some support for the dollar, but persistent trade uncertainties may keep sentiment subdued, impacting market risk appetite.

Looking Ahead: May 28, 2025, 7:00 AM IST - AUD Monthly CPI Indicator (Apr): After the AUD strengthened recently, driven by positive market sentiment and a tariff delay that boosted global trade optimism, this inflation gauge will be key. A higher-than-expected reading could solidify the Reserve Bank of Australia’s cautious stance on rate cuts, supporting further AUD gains.