Highlights
The deadlock in the US-Iran dispute persists with no negotiations scheduled. Axios is saying Iran submitted a proposal to resume talks around ending the war and reopening the Strait of Hormuz while leaving the nuclear issue for later. Hard to say whether President Trump will reverse his position again and say that will work.
Separately, it looks likely that the Senate will soon be in position to vote on Kevin Warsh's nomination to become the next Federal Reserve chair after Sen. Thom Tillis of North Carolina said he would no longer block the Senate Banking Committe's approval. That came after the Department of Justice said it would not pursue the criminal investigation of Fed Chair Jerome Powell. Yet to be seen is whether Powell will choose to serve out the rest of his term as governor which runs through January 2028. Movement on the Fed chair replacement has prompted markets to ratchet up expectations for a rate cut as early as June.
Definition
Market Focus details key factors in the coming day that will impact the economic outlook and the financial markets. These include central bank events, economic indicators, policymaker speeches as well as expected political and corporate developments.
Description
Keeping up-to-date with event schedules and the economic calendar is key to understanding the global financial system. Econoday's Market Focus allows investors and policymakers to carefully track what will be making news and moving the financial markets in the coming day.