EUR/USD holds near highs despite tariff jitters, eyes on EU data next week
The post EUR/USD holds near highs despite tariff jitters, eyes on EU data next week appeared on BitcoinEthereumNews.com. EUR/USD edges up 0.18% in thin trading as traders digest Trump’s sweeping tariff plans and EU–US tensions mount. Trump confirms tariffs up to 70% to take effect August 1, targeting EU goods, including food. Bloomberg: EU carmakers seek tariff relief via US investment pledges. Light US calendar shifts focus to German industrial output and Eurogroup meeting next week. EUR/USD posted minimal gains of 0.18% on Friday amid thin liquidity conditions, as markets in the United States are closed due to the Independence Day holiday. The shared currency is poised to close the week with gains of 0.53% despite the release of solid US economic data this week. At the time of writing, the pair trades at 1.1778. Economic news is scarce on Friday, still, market participants turned their attention to tariffs and the approval of US President Donald Trump’s ‘One Big Beautiful Bill.’ On Thursday, Trump announced that the United States would begin issuing declaration letters, notifying countries that tariffs are being applied to their goods and services. He added that the duties could be within the 10% to 70% range and would take effect on August 1. In the meantime, tensions around a Europe-US trade deal are rising, as Washington announced a 17% duty on European food. In the meantime, Bloomberg reported that “Some European Union carmakers and capitals are pushing for an agreement with President Donald Trump that would allow for tariff relief in return for increasing investment in the US, according to people familiar with the matter.” An absent economic docket in the US left EUR/USD traders adrift as they turned to the European Union’s (EU) docket. German Industrial orders fell below estimates in May every month, but compared to the figures from the same month in the previous year, showed a slight improvement. Following Monday, the…
The post EUR/USD holds near highs despite tariff jitters, eyes on EU data next week appeared on BitcoinEthereumNews.com.
EUR/USD edges up 0.18% in thin trading as traders digest Trump’s sweeping tariff plans and EU–US tensions mount. Trump confirms tariffs up to 70% to take effect August 1, targeting EU goods, including food. Bloomberg: EU carmakers seek tariff relief via US investment pledges. Light US calendar shifts focus to German industrial output and Eurogroup meeting next week. EUR/USD posted minimal gains of 0.18% on Friday amid thin liquidity conditions, as markets in the United States are closed due to the Independence Day holiday. The shared currency is poised to close the week with gains of 0.53% despite the release of solid US economic data this week. At the time of writing, the pair trades at 1.1778. Economic news is scarce on Friday, still, market participants turned their attention to tariffs and the approval of US President Donald Trump’s ‘One Big Beautiful Bill.’ On Thursday, Trump announced that the United States would begin issuing declaration letters, notifying countries that tariffs are being applied to their goods and services. He added that the duties could be within the 10% to 70% range and would take effect on August 1. In the meantime, tensions around a Europe-US trade deal are rising, as Washington announced a 17% duty on European food. In the meantime, Bloomberg reported that “Some European Union carmakers and capitals are pushing for an agreement with President Donald Trump that would allow for tariff relief in return for increasing investment in the US, according to people familiar with the matter.” An absent economic docket in the US left EUR/USD traders adrift as they turned to the European Union’s (EU) docket. German Industrial orders fell below estimates in May every month, but compared to the figures from the same month in the previous year, showed a slight improvement. Following Monday, the…
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