Trump speaks at Mar-a-Lago in the top hour and announced a $20 billion investment in US data centers from the UAE, according to CNBC.

The amount of money going into US data centers is truly astounding, including an investment of $80 billion this year from Microsoft.

The data center announcement isn’t macro trade, but Trump could also ask questions, with tariffs high on the agenda. Trump is likely to talk about tariffs and take a hard line. That adds some upside risks to the dollar. On the other hand, any sign of ‘deal-making’ or hedging could lead the market to conclude again that he is not serious about tariffs, especially for Mexico and Canada.

He could also talk about the annexation of Greenland.