EUR/USD Surges Nearly 1% This Week—Could Trade Optimism Outsmart Weak US Data and Rewrite Market Rules?
In the EU, the European Central Bank kept rates unchanged, with the Governing Council adopting a meeting-by-meeting approach amid a split division between doves and hawks in the Governing Council. Friday’s schedule was empty, though following week calendar will be packed.
EU – US Trade news
US President Donald Trump said that they’re near a deal with China. Regarding the EU, he said there’s a chance, but stated that they may have to lower their tariffs.
Earlier news during the week that the US struck a deal with Japan boosted the EUR/USD. Another leg-up was gained after the Financial Times (FT) reported that the EU and the US are set to sign a deal before the August 1 deadline, as mentioned by sources familiar with the matter.
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