EUR/USD fell on Monday (07/07) during the North American session amid a push to avoid risk, due to the escalating trade war, as US President Donald Trump began sending letters containing tariffs on several countries. This pushed the US dollar, hurting the common currency, which was trading at 1.1718, down 0.44%.
Trump announced a 25% tariff on all Korean and Japanese products imported into the US. In addition, he imposed duties on Malaysia, Kazakhstan, Myanmar, Laos, and South Africa in the range of 25% to 40%. As the headlines broke, EUR/USD dropped to a six-day low of 1.1686.
However, Reuters reported that the European Union (EU) would not accept a letter imposing higher tariffs from the US, which pushed EUR/USD back above 1.1700 against its current exchange rate.
Meanwhile, US economic data is yet to be released on Monday and Tuesday. Traders are awaiting the release of the Federal Open Market Committee (FOMC) June Meeting Minutes. In the European Union, German Industrial Production figures for May showed a slight increase, as reported by the German Federal Statistical Office. (alg)
Source: Fxstreet
...
The Euro (EUR) weakens further against the US Dollar (USD) on Friday, with EUR/USD slipping to a three-month low. The pair remains under pressure as the Greenback draws support from the Federal Reserv...
EUR/USD weakened slightly as markets again doubted the chances of aggressive Fed easing. Powell's cautious comments prompted investors to seek refuge in the dollar, especially as global risk sentiment...
EUR/USD fell from the 1.1650 area to around 1.1625 on Monday (October 27th), but held onto some of its previous gains after touching 1.1580 last week. Market sentiment has improved somewhat due to hop...
EUR/USD attempted to hold the 1.1600 area during Wednesday's Asian session after three days of weakness. The euro's rebound attempt faltered as the US dollar remained strong, supported by easing US-Ch...
Crude prices recovered from a midday dip on Friday on hopes Hungary can use Russian crude oil as U.S. President Donald Trump met Hungary's Prime Minister Viktor Orban at the White House. Brent crude futures settled at $63.63 a barrel, up 25 cents...
US stocks rebounded from early losses to close mostly higher on Friday amid hopes that Congress members were making progress toward ending the government shutdown. The S&P 500 and the Dow Jones closed 0.3% higher, while the tech-heavy Nasdaq...
European stocks fell on Friday as investors digested more quarterly earnings, but weekly losses were inevitable, with concerns regarding overheated valuations evident. The DAX index in Germany dropped 0.8% and the CAC 40 in France declined 0.2%,...
The Institute for Supply Management (ISM) is scheduled to release its October Services Purchasing Managers' Index (PMI) on Wednesday. The report, a...
The ISM Services PMI rose to 52.4 in October 2025 from 50 in September, beating forecasts of 50.8, pointing to the strongest expansion in the...
European stocks opened lower on Wednesday (November 5th), reflecting a global downturn amid growing concerns over sky-high tech valuations.
The...
Asian markets opened higher, following Wall Street's rebound. The Nikkei and Kospi jumped around 1% at the open, while US stock futures fluctuated...