EURUSD:
The EUR/USD pair fell sharply after new tariff threats from US President Donald Trump caused concern among investors. However, the significant fall in global risk markets eased as the Trump administration offered 30-day concessions on upcoming tariffs for Canada and Mexico.The likelihood of US tariffs aimed directly at the EU still remains, but there are no details yet from President Trump.
As the new trading week began, markets showed a return to risk-averse behaviour, triggered by the prospect of the US imposing tariffs on its allies. However, a last-minute decision to waive import duties on US goods helped to temporarily ease bearish pressure on markets, with investor sentiment recovering to initial levels.
There are no European economic data releases scheduled for this week, although EU retail sales are expected to rise to 2.0% on Thursday and another US non-farm payrolls data (NFP) is also expected on Friday. The employment data is unlikely to have a significant impact this week, as the US labour market remains stable, with geopolitical headlines taking centre stage.
Trading recommendation: We follow the level of 1.0400, when fixing below we consider Sell positions, when rebounding we consider Buy positions.
Origin: FreshForex
