🇺🇸 US durable goods orders fell 6.3% in April after rising 7.6% in March;

📊 The Conference Board's consumer confidence index rebounded to 98 in May from 86 in April, indicating improved US consumer sentiment;

📣 US President Donald Trump expressed hope for progress in nuclear talks with Iran after another round of talks in Rome last week;

🇦🇺 Australia's consumer price index (CPI) remained unchanged at 2.4% year-on-year in April;

🏛 The Reserve Bank of New Zealand decided to cut its key interest rate by 25 basis points from 3.5% to 3.25% following today's meeting.

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#dxy

💵 The dollar index (DXY) is trading at 99.60.

📰 Today, the minutes of the latest Federal Reserve monetary policy meeting will be published. Market participants hope to find new signals in favor of a further reduction in the key interest rate in the United States, given the growing pressure on the regulator from President Donald Trump. At the moment, the market consensus forecast points to two rate cuts by the end of the year.

🏛 In addition, tomorrow, traders will pay attention to the data on the dynamics of the gross domestic product (GDP) of the United States in the first quarter. The quarterly value is expected to remain at the same level of -0.3%, which may increase fears about a recession in the United States.

📉 Given this, the DXY retains the potential for a decline.

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⚠️ A U.S. federal court has blocked President Donald Trump's trade tariffs, ruling that the president overstepped his authority by imposing duties on foreign imports;

📰 The Trump administration has suspended sales of critical U.S. technologies to China, including technologies related to jet engines, semiconductors and certain chemicals;

🏛 Minutes from the Fed's latest meeting released yesterday showed that ongoing uncertainty over Trump's trade policies supports the regulator's cautious approach to rate changes;

🛢According to the American Petroleum Institute (API), U.S. oil inventories fell by 4.2 million barrels last week, compared to a rise of 2.4 million barrels two weeks earlier.

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#sp500

📈 The S&P 500 index is testing 5,960.

🏛 A U.S. federal court ruled that President Trump's reciprocal tariffs will be blocked because Trump exceeded his authority by imposing across-the-board duties on imports from U.S. trading partners. The ruling underscores that the president cannot unilaterally and without a clear legislative basis impose sanctions on a wide range of countries and goods. It is reported that the Trump administration has already filed an appeal. Nevertheless, analysts admit that now Trump's protectionist rhetoric will become less “tough”.

📰 Additional support for the index is provided by reports from the Chinese Ministry of Commerce that China and the U.S. continue to communicate at various levels in order to create conditions for a bilateral trade agreement.

📈 Given the above, the S&P 500 retains upside potential.

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