EURUSD braces for U.S. tariff threat
EURUSD braces for U.S. tariff threat
Tariff developments continue to drive market volatility, with new headlines emerging daily.
On Sunday, U.S. President Donald Trump warned that tariffs on the European Union were inevitable. In response, EU leaders indicated they are prepared to retaliate if the U.S. imposes new tariffs on European goods.
This follows Trump’s previous executive orders implementing a 25% tariff on imports from Mexico and Canada and a 10% tariff on Chinese imports. Although yesterday, Trump announced an “immediate pause” on tariffs against Mexico after Mexican President Claudia Sheinbaum agreed to deploy 10,000 soldiers to the border to curb drug trafficking and illegal immigration.
The EUR/USD opened the week lower, plunging to multi-week lows around 1.0200 before finding support. Markets reacted positively to the temporary U.S.-Mexico agreement, helping the pair recover. On the upside, resistance is seen at the 25-day Exponential Moving Average (EMA), ahead of the 50-day and 100-day EMA convergence.
Tariff developments continue to drive market volatility, with new headlines emerging daily.
On Sunday, U.S. President Donald Trump warned that tariffs on the European Union were inevitable. In response, EU leaders indicated they are prepared to retaliate if the U.S. imposes new tariffs on European goods.
This follows Trump’s previous executive orders implementing a 25% tariff on imports from Mexico and Canada and a 10% tariff on Chinese imports. Although yesterday, Trump announced an “immediate pause” on tariffs against Mexico after Mexican President Claudia Sheinbaum agreed to deploy 10,000 soldiers to the border to curb drug trafficking and illegal immigration.
The EUR/USD opened the week lower, plunging to multi-week lows around 1.0200 before finding support. Markets reacted positively to the temporary U.S.-Mexico agreement, helping the pair recover. On the upside, resistance is seen at the 25-day Exponential Moving Average (EMA), ahead of the 50-day and 100-day EMA convergence.
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