The post EUR/USD corrects as Trump signals optimism on US-EU trade deal appeared on BitcoinEthereumNews.com.

EUR/USD faces selling pressure above 1.1400 as the US Dollar rebounds on increased hopes of a quick bilateral trade deal between the US and the EU. European officials asked domestic companies to provide details on US investment proposals. Inflation in France cools down in May, potentially increasing the odds of interest rate cuts in June. EUR/USD trades lower to near 1.1350 during North American trading hours on Tuesday after correcting from the monthly high of 1.1425 posted the previous day. The major currency pair faces selling pressure as the US Dollar (USD) strengthens on signs of quick progress in trade talks between the United States (US) and the European Union (EU). The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, claws back its initial losses and rises 0.4% to near 99.35. During North American trading hours, comments from US President Donald Trump in a post on Truth.Social indicated that the EU is speeding up the process towards reaching a trade deal with them. “I was extremely satisfied with the 50% Tariff allotment on the European Union, especially since they were “slow walking”. I have just been informed that the EU has called to quickly establish meeting dates. This is a positive event, and I hope that they will,” Trump wrote. Earlier in the day, EU officials asked domestic business owners to submit their US investment plans, Reuters reported, a move that reflected significant efforts from the old continent to speed up the formation of a trade proposal.  The de-escalation in trade tensions between the EU and the US stemmed from US President Trump postponing proposed 50% tariffs on the trading bloc until July 9, following a “good phone call” with European Commission President Ursula von der Leyen over the weekend. Ursula assured quick trade negotiations,…

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Filed under: News - @ May 27, 2025 7:23 pm