Articles

Trump Media plans to raise $3B to buy cryptocurrency.

The Chief Executive Officer of Trump Media & Technology Group (TMTG)—the parent company of Truth Social—is Devin Nunes. A former U.S. Representative from California and Chair of the House Intelligence Committee, Nunes resigned from Congress in January 2022 to assume leadership of TMTG.

In addition to his role at TMTG, Nunes was appointed Chair of the President’s Intelligence Advisory Board in January 2025. He continues to serve as CEO of TMTG while holding this advisory position.

TMTG is publicly traded under the ticker symbol DJT on the Nasdaq. The company has been expanding into cryptocurrency investments and financial technology services, aligning with its broader strategy to diversify beyond social media.

This article was written by Greg Michalowski at www.forexlive.com.

The OPEC+ countries will bring forward the June 1 meeting to May 31. This is according to Reuters citing three sources.

This article was written by Greg Michalowski at www.forexlive.com.

As the European traders look to exit for the day, technically today, the EURUSD rallied modestly on the day, but stalled just ahead of a key resistance zone near 1.14238, with the high reaching 1.14181 before retreating. That swing level remains a critical barrier, and price action has turned choppy as the pair hovers around a cluster of technical levels.

The pair is currently fluctuating near the 61.8% retracement of the April high to the May low at 1.13781. This level is reinforced by a prior swing high and last week’s peak, making it a pivotal barometer for short-term directional bias. Price is oscillating above and below this zone, indicating indecision.

A move below 1.13781 and more importantly under 1.13620 would shift momentum back to the downside and increase bearish pressure, targeting the rising 100 hour MA at 1.1327 and below that the 50% retracement at 1.13183.

To resume bullish momentum, EURUSD would need to push above 1.14238, which opens the door toward the next upside target at 1.14392. Move above those levels and the swing high from April 11 at 1.14723 would be eyed.

Resistance Levels:

• 1.14181 – Today’s session high

• 1.14238 – Key swing level and near-term resistance barrier

• 1.14392 – Next upside target on a break above 1.14238

• 1.14723 – Swing high from April 11

Support Levels:

• 1.13781 – 61.8% retracement of April high to May low; also last week’s swing high

• 1.13620 – Secondary support; break below adds to bearish pressure

• 1.13270 – Rising 100-hour moving average

• 1.13183 – 50% retracement level of the same April-to-May range

These levels define the key technical zones to monitor for directional breakouts or continued consolidation.

This article was written by Greg Michalowski at www.forexlive.com.

FoxBusiness Gasparino is tweeting that US India trade deal is almost complete. However, there may be an issue if Apple’s decision to move plants to India is not resolved. On Friday, Trump threatened a 25% tariff on Apple products if they are not manufactured in the US. Apple meanwhile was looking to move more manufacturing to India from China to circumvent tariffs.

This article was written by Greg Michalowski at www.forexlive.com.

According to Bloomberg,

• EU plans to fast track trade talks with the US
• There is a new impetus for the negotiations
• Both Trump and Ursula von der Leyen agree to fast track and keep in close contact.

Pres Trump over the weekend extended the threat of 50% tariffs from June 1 to July 9.

This article was written by Greg Michalowski at www.forexlive.com.

Hamas has agreed to a Gaza ceasefire proposal from U.S. Special Envoy Steve Witkoff, according to a Palestinian official speaking to Reuters. The agreement marks a potential turning point in the ongoing conflict, with conditions including a temporary truce and hostage release. Negotiations are set to continue during the ceasefire to work toward a lasting peace, contingent upon U.S. guarantees.

• Hamas agrees to the Witkoff proposal for a Gaza ceasefire.

• Ceasefire terms: 70-day truce and release of 10 hostages in two phases.

• Ongoing negotiations will continue during the truce to secure a permanent ceasefire, pending U.S. guarantees.

NOW Axios is saying:

• Whitkopf reject Hamas claims and tells me: “What I have hearrd so far from Hamas has been disappointing and completely unacceptable”

• Envoy Steve Witkoff stated that Israel has agreed to his proposal for a hostage deal and ceasefire.

• The deal includes the release of half of the living hostages and half of the fallen hostages.

• Witkoff believes the ceasefire will enable meaningful negotiations toward a permanent ceasefire.

• Witkoff emphasized, “There is a deal on the table and Hamas must accept it.”

This article was written by Greg Michalowski at www.forexlive.com.

This week there are a number of retailers reporting earnings which will be scrutinized for impacts from tariffs.

However, the biggest release will be on Wednesday after the close when Nvidia will announce their earnings. Below is a look at some of the companies reporting:

Wednesday

Before Open:

• Dick’s Sporting Goods (DKS)

• Abercrombie & Fitch (ANF)

• Macy’s (M)

After Close:

• NVIDIA (NVDA)

• Salesforce (CRM)

Thursday

Before Open:

• Foot Locker (FL)

• Best Buy (BBY)

• Kohl’s (KSS)

After Close:

• Marvell (MRVL)

• Costco (COST)

• Dell (DELL)

This article was written by Greg Michalowski at www.forexlive.com.

It is Spring Bank Holiday in the UK and Memorial Day holiday in the US. Peace to those that died in the fight for freedom and to their families.

Today, the USD moved lower but has since retraced the declines to start the NA session.. The US banks, stock and bond markets are closed but Canada is open. The forex market never sleeps (it may rest though). The price action is likely to be somewhat limited in the forex.

A snapshot of the USD to start the session now shows a mixed picture. The greenback is lower vs:

• EUR -0.11%
• GBP -0.17%
• CAD -0.16%
• AUD -0.20%
• NZD -0.37%

and is higher vs:

• JPY +0.28%
• CNF +0.17%

Pres. Trump over the weekend eased fiscal policy (at least temporarily) vs Friday by extending a reprieve to the EU for tariffs to 50% tariffs to July 9, 2025. On Friday, he said he “recommended” a greater tightening of fiscal policy by adding a 50% tariffs starting June 1. Meanwhile, the Fed remains on hold as tariff policy and budget policy is being enacted around them and they wait for the dust to settle on inflation and growth.

Fed’s Neel Kashkari (a 2026 FOMC voter) on Sunday emphasized that uncertainty is a major concern for both the Federal Reserve and U.S. businesses. When asked whether the Fed could adjust rates by September, he said “anything is possible,” indicating a cautious stance. He noted that the central bank is currently in “wait and see” mode and described the economic impact of new tariffs as stagflationary—combining stagnant growth with inflation

Regarding the EU, the Trump reaction on Friday was due to limited progress on trade negotiations. IN addition,

• • The EU has prepared a €21 billion counter-tariff package targeting American goods

  • Negotiations are ongoing to prevent a full-scale trade conflict

• Prospects: Italy’s Economy Minister expressed optimism that a U.S.–EU trade accord will mirror the recent U.S.–UK deal.

Trump today said that countries “all over the world” wanted to make trade deals with the US. There were no trade deals made last week despite comments from the week before that there would be more deals coming.

Recall on May 14, the US and China agreed to ease the “embargo” where tariffs were imposed on trade up to 145%..

• Terms:

  • Both nations agreed to reduce tariffs imposed during the trade war by 115% for a 90-day period (so that would be August 12)

  • China suspended a 34% retaliatory tariff and other non-tariff measures

  • A 10% tariff remains in place on certain goods

• Purpose: Aimed at de-escalating trade tensions and fostering a more stable economic relationship

President Trump visited Saudi Arabia from May 13 to May 14, 2025, as part of his four-day Middle East tour that also included Qatar and the United Arab Emirates. While there:

• Saudi Arabia pledged to invest $600 billion in the United States, focusing on sectors like energy, defense, technology, and infrastructure. This commitment was formalized during the U.S.–Saudi Investment Forum in Riyadh.
• The U.S. agreed to sell Saudi Arabia an arms package worth nearly $142 billion, encompassing tanks, combat ships, missile defense systems, and cybersecurity technology. This deal is considered the largest defense cooperation agreement between the two nations.
• President Trump and Crown Prince Mohammed bin Salman signed an agreement to enhance cooperation in key sectors, including energy, mining, and defense, signifying a deepening of economic and strategic ties

In addition, Saudi Arabia launched “Humain,” a state-backed AI company, partnering with U.S. tech firms:

• Nvidia: Agreed to supply at least 18,000 GPUs to Humain.

• AMD: Committed to a $10 billion investment in joint AI infrastructure projects.

• Amazon Web Services: Plans to establish a $5 billion AI Zone in Saudi Arabia.

President Trump formally accepted a luxury Boeing 747-8 aircraft from the Qatari government during his May 2025 visit to the Middle East. Valued at approximately $400 million, the jet is intended to serve as a temporary replacement for Air Force One. The Pentagon confirmed that the aircraft was accepted in accordance with federal regulations and will undergo modifications to meet presidential transport standards.

This article was written by Greg Michalowski at www.forexlive.com.

Headlines:

• European indices jump at the open as Trump delays EU tariffs
• Macron says there was a good exchange between Trump and von der Leyen
• EU says ‘zero-for-zero’ proposal is still on table in trade talks with the US
• EU spokesperson says call with Trump was initiated by von der Leyen
• German economy minister says to calm down and keep talking on tariffs for now
• US reportedly demanded South Korea to resolve trade imbalance in talks last week
• Fed’s Kashkari: Trade policy creates uncertainty for any decision before September
• SNB total sight deposits w.e. 23 May CHF 443.4 bn vs CHF 443.2 bn prior
• UK and US holiday slows down the agenda to start the new week

Markets:

• NZD leads, JPY lags on the day
• European equities higher; S&P 500 futures up 1.2%
• Gold down 0.7% to $3,333.75
• WTI crude down 0.2% to $61.38
• Bitcoin up 0.7% to $109,792

It’s a poor start to the week for the dollar once again but at least it is seen trimming earlier losses from Asia. That came after risk appetite perked up as Trump agreed to delay the 50% tariffs on the EU to 9 July, following a phone call with von der Leyen.

That’s the main story after the weekend, with some European officials chiming in about the exchange. However, there was little to no details offered on what the two leaders spoke about.

EUR/USD moved up to around 1.1420 in Asia but is now down to 1.1380, still up 0.1% on the day. Meanwhile, AUD/USD also traded to 0.6530 levels earlier on as it stays on the hunt of a breakout above the 0.6500 mark. But the pair has eased back to around 0.6505 currently, up 0.2% on the day.

Besides the dollar, the yen is also lagging behind with USD/JPY itself seen up 0.3% to near 143.00. AUD/JPY is a notable mover as it pushed up to 93.19 earlier but is now holding near 93.00 on the day – up 0.5%.

As for equities, European indices are seen posting a solid rebound after the Friday losses. That comes as US futures are also marked up by over 1%, though do be reminded that Wall Street is closed today.

As such, we’ll be left to digest more trade headlines before gearing towards month-end trading in the days ahead.

This article was written by Justin Low at www.forexlive.com.

• Wants to get to lowest tariffs possible

For now, markets are buying into the idea of a reprieve until the next deadline. But zooming out, it is just 44 days left to accomplish something. Thus far, we haven’t gotten any meaningful progress throughout April and May. So, can they really find a breakthrough in just a few more weeks? ⏰

This article was written by Justin Low at www.forexlive.com.

This was the exact same line put out in the weeks prior, all before we got Trump’s 50% tariffs threat on Friday last week. The other parts of the proposal that was reportedly rejected by Trump were to jointly remove tariffs on industrial goods, to boost access for some US agricultural products and to co-develop AI data centers.

It seems like there will be much to do to bridge the gap. Tick tock, tick tock. 44 days to go.

This article was written by Justin Low at www.forexlive.com.

However, when asked about the details the spokesperson declined to provide any details on what was discussed. Besides that, EU trade commissioner Maroš Šefčovič is to have a call with US trade representative Howard Lutnick later today. So, we’ll have to wait and see if that will offer any headlines after.

This article was written by Justin Low at www.forexlive.com.