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EURUSD:
On Monday, EUR/USD failed to break the 1.0850 level, starting the new trading week on a rather weak footing. Investors are preparing for a new round of tariff threats from US President Donald Trump. The Trump administration plans to impose a wide range of tariffs affecting nearly all US trading partners starting April 2. While the specific details of these tariff strategies remain unclear, key threats include “retaliatory” tariffs on any country that imposes its own tariffs on imports of U.S. products, regardless of the economic situation. Additional retaliatory tariffs on Canada and the European Union are also expected, as well as proposed general tariffs on copper and automobiles.
European inflation data will be updated this week, with the preliminary Harmonized Index of Consumer Prices (HICP) to be released on Wednesday. Little change is expected on the pan-European inflation front, with price pressures remaining stable but no surprises in 2025.
On the US side, fresh US Nonfarm Payrolls (NFP) employment data is due later this week. The publication of NFP could be an important reference point for the markets as the US economy transitions into a post-tariff economic environment, and the March labor data will serve as an “indicator” of the impact of the Trump team’s tariff plans.
Trading recommendation: SELL 1.0815, SL 1.0860, TP 1.0730
Origin: FreshForex
