Tariff and oil volatility converge on July 9

Tuesday, July 9 marks a key deadline for two major market-moving events.

Tuesday is the official deadline for U.S.–EU trade negotiations. While a full deal is off the table, the EU hopes to secure a last-minute "agreement in principle" to avoid a threatened 50% U.S. tariff on some European exports.

President Trump’s history of moving deadlines adds uncertainty. Traders might like to watch for sharp intraday moves in EUR/USD and European equities tied to tariff risk.

OPEC’s International Seminar also kicks off on the 9th in Vienna. Energy ministers and CEOs from BP, Shell, and others will speak on oil supply, investment, and long-term strategy.

Crude has been volatile in July, and any signs of supply shifts or policy changes could drive WTI and Brent in either direction.