Euro Slips as US Dollar Gains After Trade Deal
The EUR/USD pair started the week on a weaker note despite a major trade agreement between the European Union and the United States. The euro briefly rose to 1.1770 but quickly lost momentum, falling toward the 1.1740 level in early European trading. Investors appear cautious ahead of key economic events later in the week.
The agreement includes cutting tariffs on European goods from 30% to 15%. In return, the Eurozone has pledged to invest EUR 600 billion in the US and increase purchases of gas and military equipment. Despite its importance, the deal has failed to lift the euro meaningfully.
The US dollar remains strong, supported by solid economic data and a "wait-and-see" stance from the Federal Reserve ahead of its rate decision on Wednesday. With today’s economic calendar light, market focus shifts to Friday’s key US Nonfarm Payrolls report, which could spark bigger moves.(ayu)
Source: Newsmaker.id
