There has been enoiugh news today to last a week. In the end, it is the reaction that counts.
This came out earlier but we need to hear it from Trump.

Source: Newsquawk.com
EURUSD 4h Update
EUR bounced sharply and reached 1.03800 once again.
Now the question is how is it going to Close this bar in about hour and half.
Options:
– Close above 1.03600 – Bullish – it would go way above 1.03800 and change the Daily direction to Up
– Close below 1.03500 – Bearish – Another leg down testing at least 1.02900
Later tonight I’ll reassess the situation and post another update

News trading algos reacting to keyword phrases and any hint of a way out of a tariff trade war.

Source: Newsquawk.com
USD spikes down on these tariff related comments, suggests no definitive announcement today.

Source: Newsquawk.com
Hotter CPI, both headline and core… details in our Economic Data Calendar
No reaction to this but is setting up a potential battle with the Fed and a lame duck Powell.

Source: Newsquawk.com
NEWsQUAWK US OPEN
USD and USTs steady ahead of US CPI while crude slips; reports suggest optimism surrounding Middle Eastern talks
Good morning USA traders, hope your day is off to a great start! Here are the top 5 things you need to know for today’s market.
5 Things You Need to Know
US President Trump responded “We’ll see” when asked if reciprocal tariffs are still coming on Wednesday.
European bourses hold an upward tilt pre-US CPI and with tariffs capping optimism; US futures are mixed.
USD steady ahead of CPI, JPY is on the backfoot given the yield environment.
USTs trade steady ahead of CPI, German yields continue their march higher.
Crude slips on inventories which saw a surprise build in headline crude stockpiles, reports suggest there is “some optimism about reaching a solution” on Middle Eastern talks
A look at the day ahead in U.S. and global markets from Mike Dolan
Hyperactive U.S. policy moves appear to have frozen macro markets this week, with Wednesday’s key U.S. inflation release set to hold Federal Reserve boss Jerome Powell’s benign take on economy up to the light.
Powell basically told Congress on Tuesday that the economy was fine and that Fed policy was sufficiently well calibrated to deal to with uncertainties surrounding the new government plans – credit is still ‘restrictive’ while they wait and see.
USDJPY 4 HOUR CHART – Unwinding J{Y crosses lead the way

Short-term trend : Up
Longer-term trend: Retracement. 153.975 = 38.2% vs 153.88 high so far today
Keeps a bid while above 153.20
Below 152.89 puts 152,00-50 back on the table
Watch JPY crosses, US bond yields after CPI, headlines for any news on reciprocal tariffs
Using my playing as a HEAztMAP

Tug-of-war
USDJPY up
JPY weaker on crosses (EURJPY leading)
USD mixed elsewhere,
EURUSD high 1.0380. vs 1.0385, where it was trading when reciprocal tariffs news hit last Friday
Next up: US CPI … see detailed preview
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