- EUR/USD is retracing previous losses after dropping to 1.1213 lows.
- A US court decision to block trade tariffs sent the US Dollar rallying during the Asian session.
- In Europe, weak macroeconomic data keeps acting as a headwind for the Euro recovery.
EUR/USD is trading with moderate losses, around 1.1285 at the time of writing, after bouncing up from 1.1213 lows. A sentence by a US court ruling against trade tariffs rattled markets during the Asian session, sending the US Dollar (USD) to its highest levels in the last ten days.
The three judges from the US Court of International Trade have voted unanimously against US President Donald Trump’s sweeping trade tariffs, as they consider that the exclusive authority to regulate commerce resides with Congress.
The news boosted risk appetite, triggering significant rallies on the US Dollar and sending Asian and European Stock markets higher. Wall Street futures are also pointing to a strong opening.
Investors have welcomed the court ruling. Trump’s tariffs had fuelled concerns that higher inflationary pressures and a weaker economic outlook would pose a headache to the Federal Reserve (Fed), as the minutes of the last monetary policy meeting revealed.
The US Government, however, appealed the sentence quickly, which suggests that a lengthy process will follow. This might halt the relief rally at some point, but so far, the positive market mood has eased the “Sell America” trade.
Euro PRICE Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the Swiss Franc.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.13% | 0.04% | 0.07% | -0.05% | -0.18% | 0.05% | 0.16% | |
| EUR | -0.13% | -0.08% | -0.05% | -0.18% | -0.25% | -0.09% | 0.02% | |
| GBP | -0.04% | 0.08% | 0.04% | -0.08% | -0.16% | -0.02% | 0.02% | |
| JPY | -0.07% | 0.05% | -0.04% | -0.13% | -0.28% | -0.07% | -0.01% | |
| CAD | 0.05% | 0.18% | 0.08% | 0.13% | -0.19% | 0.10% | 0.10% | |
| AUD | 0.18% | 0.25% | 0.16% | 0.28% | 0.19% | 0.18% | 0.18% | |
| NZD | -0.05% | 0.09% | 0.02% | 0.07% | -0.10% | -0.18% | 0.00% | |
| CHF | -0.16% | -0.02% | -0.02% | 0.00% | -0.10% | -0.18% | -0.01% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
