In the European session, we have a pretty empty agenda with just a couple of low tier data releases that won’t be market-moving. In the American session, we get the Canadian Employment report which is expected to show 2.5K jobs added in April and the Unemployment Rate to tick higher to 6.8% vs. 6.7% prior.

It’s the day after the outline of the first trade deal and we have expectations for the US lowering the tariffs on China over the weekend so that’s gonna be the main theme going into the weekend. As always, watch out for tariff related news throughout the day, especially potential retaliatory threats from other countries (EU) as the US stated that the 10% rate is going to be the floor.

Central bank speakers:

08:40 GMT/04:40 ET – BoE’s Bailey (neutral – voter)
09:55 GMT/05:55 ET – Fed’s Barr (dove – voter)
10:45 GMT/06:45 ET – Fed’s Kugler (dove – voter)
12:30 GMT/08:30 ET – Fed’s Barkin (neutral – non voter)
12:30 GMT/08:30 ET – Fed’s Williams (neutral – voter)
14:00 GMT/10:00 ET – Fed’s Goolsbee (neutral – voter)
15:30 GMT/11:30 ET – Fed’s Waller (dove – voter)
23:45 GMT/19:45 ET – Fed’s Cook (dove – voter)
23:45 GMT/19:45 ET – ECB’s Schnabel (neutral – voter)

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