EUR/USD is pulling back toward 1.1620 in Thursday’s Asian session as markets await Eurozone HICP data, with eyes on US June retail sales later in the day. The dollar stays firm on expectations that the Fed will hold rates at 4.25%-4.50% in July amid tariff-driven uncertainty.
President Trump announced plans to notify over 150 countries of a 10% tariff, possibly rising to 15-20%, targeting those with minimal U.S. trade ties. He criticized Fed Chair Powell but admitted removing him might destabilize markets, while floating possible trade deals with Europe and India.
Strong June CPI has reignited concerns about prolonged high rates. Dallas Fed’s Lorie Logan and New York Fed’s John Williams both warned that tariffs may keep inflation elevated, reinforcing the case for keeping rates steady.
Resistance for the pair is at 1.1670, while support is at 1.1580.
President Trump announced plans to notify over 150 countries of a 10% tariff, possibly rising to 15-20%, targeting those with minimal U.S. trade ties. He criticized Fed Chair Powell but admitted removing him might destabilize markets, while floating possible trade deals with Europe and India.
Strong June CPI has reignited concerns about prolonged high rates. Dallas Fed’s Lorie Logan and New York Fed’s John Williams both warned that tariffs may keep inflation elevated, reinforcing the case for keeping rates steady.
Resistance for the pair is at 1.1670, while support is at 1.1580.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.