EUR/USD edged higher during the North American session to hit a six-week high of 1.1449, poised to hold above 1.1400 as the US Dollar dropped to levels last seen in April as the "Sell America" trade continued. Escalating trade tensions between the United States (US) and China, as well as the Eurozone (EU), prompted investors to favor the Greenback with the Euro posting a gain of over 0.68%.
Recently, economic data in the US revealed that business activity in the manufacturing sector remained in contraction territory, according to the Institute for Supply Management (ISM).
Last week, US President Donald Trump revealed that China had violated its agreement with Switzerland. As a result, he threatened to impose 50% tariffs on aluminum and steel imports, effective June 4, triggering a flight to safe haven assets, except for the US Dollar.
Beijing responded to Washington's accusations as "baseless and threatened to respond with firm measures."
In other trade news, EU Trade Commissioner Sefcovic will meet with USTR Greer in Paris on Wednesday, according to a spokesman.
The EU economic calendar features the release of the HCOB Manufacturing Purchasing Managers' Index (PMI) for May, with most results mixed, with only Spain showing signs of expansion.(alg)
Source: FXstreet
The EUR/USD pair remains practically flat on Friday, relatively close to three-week highs hit on the previous day. The US Dollar is a tad firmer, supported by positive US macroeconomic data which prov...
EUR/USD weakened more than 0.20% on Thursday after solid economic data from the United States weighed on the common currency, which benefited from the European Central Bank's (ECB) decision to keep in...
The EUR/USD pair strengthened during the North American session, rising 0.16%, as rumors grew that the United States and the European Union (EU) would soon sign a deal similar to the one signed betwee...
EUR/USD pulls back from two-week high of 1.1761 reached on Tuesday, trading around 1.1740 during the Asian hours on Wednesday. The pair depreciates as the US Dollar (USD) gains ground. United States (...
The EUR/USD pair is posting marginal gains ahead of the US Session opening on Tuesday as the US Dollar retreats further with trade uncertainty growing. Meanwhile, a rather positive Lending survey from...
The S&P 500 rose 0.4% on Friday (July 25), notching its fifth consecutive record close—its longest streak in more than a year—while the Nasdaq 100 gained 0.2% after hitting an intraday high. The Dow Jones Industrial Average gained 208 points as...
Oil prices weakened on Friday (July 25th) and closed at a three-week low as traders worried about negative economic news from the US and China and signs of increasing supply. The losses were limited by optimism that a US trade deal could boost...
Gold prices weakened on Friday, weighed down by a stronger U.S. dollar and signs of progress in U.S.-EU trade negotiations, which have dampened demand for safe-haven assets. Spot gold fell 0.9% to $3,336.01 an ounce at 2:01 PM ET (18:01 GMT). U.S....
European stocks closed mostly lower on Friday (July 25th) as markets continued to monitor the latest corporate earnings reports while awaiting the...
Asia-Pacific markets traded lower as investors weigh recent trade developments.
Asia markets started the trading day lower.
Japan's benchmark...
UK retail sales rose 0.9% month-over-month in June 2025, rebounding from a revised 2.8% drop in the previous month but missing market expectations...
President Donald Trump locked horns with Federal Reserve Chair Jerome Powell during a rare presidential visit to the U.S. central bank on Thursday,...