US President Donald Trump announced plans for 25% tariffs on aluminum and steel, along with retaliatory tariffs on countries imposing similar tariffs on the US. While the market reaction was muted compared to previous tariff announcements, the Federal Reserve remains cautious, with Jerome Powell indicating a potential return to aggressive monetary easing if labor market conditions weaken or inflation targets are consistently missed. The European Central Bank, on the other hand, is expected to continue cutting interest rates, potentially creating a favorable environment for the downward trend in the EUR/USD. The pair currently fluctuates within a consolidation range of $1.02-1.05, with a head-and-shoulders pattern suggesting a continued downward movement.
Get the AI-powered monthly updated list of picks that smashed the S&P 500 in 2024 for less than $9 a month hereMeanwhile, US President Donald Trump announced plans to introduce 25% tariffs on aluminum and steel, along with retaliatory tariffs on countries that impose similar tariffs on the US.
However, one single bad reading would not be significant enough for the Federal Reserve to shift its stance at upcoming meetings, unless there is a surprising upside in the fight against inflation.The EUR/USD is currently confined within a local consolidation range of $1.02-1.05 per euro. At present, we can also identify a head-and-shoulders pattern, suggesting a continuation of the downward movement.The crucial level to watch is the lower boundary around the 1.
TARIFFS FEDERAL RESERVE ECONOMY EUR/USD MONETARY EASING
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