Market Turmoil: Trump's Policy Ripples Through Global Trade

As U.S. futures show slight recovery, the dollar faces a significant monthly drop amidst Trump's administration challenges. Traders react to unsettling tariffs affecting growth. Key earnings and economic data are anticipated as markets look for clearer signs of progress. Global trade remains a focal concern.

In the wake of U.S. futures inching back towards early April levels, the dollar struggles amidst President Donald Trump's policy tumult. Notably, it's set for a substantial monthly decline as the markets grapple with uncertainty surrounding U.S. tariff strategies.

Traders are offloading the greenback amid fears that tariffs will impede U.S. economic growth, diminishing its status as a safe investment haven. Trump's unpredictable communication style continues to unsettle global markets, with 1,362 days remaining until the conclusion of his term in 2029.

Amid a slight retreat of automotive tariffs, European and U.S. futures experienced modest gains in Asia. Investors now hope for more definitive measures to alleviate the tariff standoff between the U.S. and China. Meanwhile, other economic indicators such as earnings from companies like Deutsche Bank, HSBC, and General Motors, and euro zone confidence are in the spotlight.

(With inputs from agencies.)