EUR/USD pulled back on Wednesday, shedding around one-quarter of one percent after US President Donald Trump insisted that tariffs are coming for the European Union too, not just Canada and Mexico.
The group of nations not facing tariff threats from the White House is rapidly diminishing. Should a full-scale trade war unfold, the Euro has now been added to the list of vulnerable currencies that may experience increased volatility due to shifting risk sentiment, as investors struggle to keep pace with the frequent updates emanating from the White House.
This week, UK data is relatively sparse, but a wealth of US data is available for investors to analyze as the trading week progresses. On Thursday, US Gross Domestic Product (GDP) growth figures for the fourth quarter of 2024 will be released, along with updates on Durable Goods orders for January.
The most significant data point this week will be the US Personal Consumption Expenditure (PCE) inflation report set for Friday. Inflation indicators in the US spiked at the beginning of 2025, and investors are looking for evidence that any immediate inflationary pressures do not seep into core inflation metrics.
Source: Fxstreet
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