The EUR/USD pair weakened to around 1.1480 during the early Asian session on Monday (6/23). The greenback moved higher against the Euro (EUR) as US President Donald Trump's decision to join Israel's war against Iran sharply escalated the conflict. Traders will be closely monitoring developments surrounding the Middle East conflict.
The United States (US) waded into the conflict between Israel and Iran over the weekend, with American warplanes and submarines targeting three Iranian facilities in Iran, Fordo, Natanz, and Isfahan. Trump said Iran's main nuclear enrichment facility had been "totally destroyed" and warned of a "much bigger" attack unless Iran agreed to peace. The escalation in tensions after the US bombed an Iranian nuclear site boosted safe-haven currencies such as the Greenback and acted as a drag on the major currency pair.
Across the ocean, the European Central Bank (ECB) cut interest rates for the eighth time in a year earlier this month to support the sluggish recovery in the Eurozone but clearly signaled a pause in July. ECB President Christine Lagarde said that the rate cuts are coming to an end as the central bank is now "well-positioned" to deal with the uncertainty. The ECB's aggressive tone could help limit the euro's losses in the near term. (alg)
Source: FXstreet
EUR/USD moves little after registering more than 1% losses in the previous session, trading around 1.1590 during the Asian hours on Tuesday. The pair faced challenges as the US Dollar (USD) rose on tr...
The EUR/USD dropped more than 1% on Monday as investors bought the Dollar on news that the United States (US) and the European Union (EU) had reached a trade agreement, similar to the one inked by Jap...
The euro climbed above $1.175 on Monday, snapping a two-day losing streak after the US and EU reached a trade agreement over the weekend. The deal includes a 15% tariff on most European goods, signifi...
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...
Oil prices edged higher on Tuesday (July 29th) amid optimism that the trade war between the United States and its major trading partners is easing and as President Donald Trump increases pressure on Russia over its war in Ukraine. Brent crude...
Gold held steady as investors prepared for the Federal Reserve's policy decision, a series of key economic data, and the outcome of US trade negotiations. Gold bullion prices traded in a narrow range on Tuesday after weakening in the previous...
The Kremlin said it was "taking note" of Donald Trump's threat to sharply shorten Vladimir Putin's deadline to end his war in Ukraine, although it stressed that the Russian president was unlikely to change course. "I would like to avoid making any...
Europe's Stoxx 600 index erased earlier gains to close 0.23% lower as investors turned less positive over the details of the U.S.-EU trade...
European governments and companies reacted with a mix of relief and concern on Monday (July 28th) to the framework trade agreement reached with US...
The United States and European Union have reached a landmark trade agreement that includes a 15% tariff on EU goods entering the U.S., President...
The Dow Jones Industrial Average (DJIA) tested all-new record highs early Monday, clipping into the high side in early trading before the weight of...