Oil and steel kick off a week, that finishes with jobs
Markets closed before Trump announced a doubling of steel tariffs. It adds more certainty at the start of a week that finishes with US jobs data.
NAB Morning Call · NAB - The Morning Call
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Monday 2nd June 2025
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As NAB’s Taylor Nugent points out, the announcement by President Trump of a doubling in steel tariffs from Wednesday happened after the US market close. OPEC+ also announced an increase in production over the week. So, the week kicks off with more uncertainty. It finishes with the latest US jobs data, will be watching keenly by those fearing a slowdown could be driving the country towards a recession. Meanwhile, there was a slab of data released on Friday, which Phil and Taylr work their way through on today’s Morning Call.
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