Today features a light calendar, with the German IFO index being the only notable release. This index is often associated with the German Composite PMI, suggesting its impact may be limited.

Former President Trump is scheduled to speak at 19:00 GMT during a press conference with President Macron. He will also participate in a G7 leaders call at 13:00 GMT.

Central bank speakers include BoE’s Lombardelli at 09:00 GMT and Fed’s Logan at 09:20 GMT. BoE’s Ramsden and BoC’s Gravelle will speak at 13:15 GMT, followed by Fed’s Barr at 16:45 GMT and BoE’s Dhingra at 18:00 GMT.

The limited number of scheduled events today means that volatility may remain muted unless unexpected headlines emerge. The German IFO index tends to track the broader German Composite PMI relatively closely. Given that the latter has already been released, the potential for fresh surprises appears low. However, if the index deviates meaningfully from expectations, it could still prompt a response.

Attention will also be on Donald, who is set to join Emmanuel for a press conference this evening. This comes after a G7 call earlier in the day, which may provide insight into economic or geopolitical priorities. While these events are not typically market-moving on their own, any remarks regarding trade, tariffs, or broader policy shifts could influence sentiment.

Among central bank officials speaking today, Megan will be the first to take the stage in the morning. This will be followed shortly by Lorie, whose comments may be watched for any mention of balance sheet adjustments. Later, Dave and Toni will have an opportunity to address questions on monetary policy before Michael and Swati wrap up the day with their remarks. The schedule presents multiple chances for policymakers to clarify their stance, particularly given recent discussions around inflation trends and interest rates.

Looking ahead, price movements are likely to be shaped by how these scheduled updates interact with existing market positioning. With relatively few major data releases today, traders may focus more on broader themes rather than reacting to individual statements. However, any remarks that unexpectedly shift rate expectations or policy outlooks could still lead to adjustments.