Live Updates > Live Update Details
2025-07-29 10:03:22
[Euro struggles to stabilize, US-EU trade deal sparks disagreement] 1. The euro attempted to stabilize on Tuesday, but its rebound was weak after suffering its biggest one-day drop in over two months the previous day. The US-EU trade deal is viewed by the market as significantly biased towards the US and failing to boost the eurozone economic outlook. EUR/USD edged up 0.07% to 1.1594, after a 1.3% plunge overnight. 2. The deal sparked strong opposition within the EU. France criticized it as a "dark day" for Europe, while German Chancellor Merz warned it would harm the German economy. Analysts noted that the imbalance in the agreement's terms weighed on the euro, while falling eurozone government bond yields exacerbated the sell-off. The US dollar index remained steady at 98.67, having risen 1% overnight. 3. Market focus shifted to this week's Federal Reserve and Bank of Japan policy meetings. While both central banks are expected to remain on hold, the wording of their statements could influence market expectations. Furthermore, US-China trade negotiations remain ongoing, with both sides seeking to extend the tariff truce. 4. For other currencies, the British pound hit a two-month low of 1.3344, but the decline was not large and it is currently trading around 1.3352. The USD/JPY was blocked from rising, having previously hit a one-week high of 148.70, and is currently falling back to around 148.52.
