Tuesday is expected to be a very calm day. The greatest volatility is expected in currency pairs with the Swiss franc and the USD. In the morning data on Switzerland's GDP was published, as well as the country's trade balance. Macroeconomic reports turned out to be multidirectional as the GDP grew by 0.6% in the first quarter, which is 2 times more than expected. However, the surplus of the trade balance decreased in April at a faster pace than expected.
In the evening, we will have only information about the index of consumer confidence in the United States, which in the opinion of investors in May is expected to grow by 0.9 pips compared with April.
The demand for safe assets remains high after Donald Trump's message about the unwillingness to conclude a trade deal with China. Based on this, we can assume that commodity currencies, especially the AUD and the NZD, are unlikely to be able to count on support in the near future.
