EUR/USD rebounds above 1.1600 on tariff threats, Macron’s PM pick
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The EUR/USD pair recovers some ground on Friday, climbing above 1.1600 as the Greenback plunges, driven by an escalation of the trade war between the US and China. However, gains seem capped by the political turmoil and weaker-than-expected data in the Eurozone (EZ). The pair trades at 1.1606, up 0.37% at the time of writing. Dollar slumps on renewed tariff threats; France’s leadership reset relieved Euro’s bulls On Friday, the Euro (EUR) recovered after four days of consecutive losses, despite the ongoing political turmoil in France. Recently, the French President Emmanuel Macron reappointed Se´bastien Lecornu as Prime Minister, after he quit the job earlier this week. Lecornu accepted Macron’s offer and posted on his X.com account that he will “do everything possible to provide France with a budget by the end of the year and to address the daily life issues of our fellow citizens.” He added that “We must put an end to this political crisis that exasperates the French people and to this instability that is harmful to France’s image and its interests.” The Euro advanced as a relief, underpinned by US Dollar weakness. The Greenback depreciated following Trump’s threats to impose “massive increase of tariffs” on China, pointing to the recent hostile export controls on rare-earth minerals. Data-wise, the University of Michigan (UoM) revealed that Consumer Sentiment held steady in October, despite the US government shutdown and concerns about the labor market and inflation. Daily market movers: EUR/USD advances, despite Fed’s hawkish comments The US Dollar Index (DXY), which tracks the performance of the buck’s value against a basket of six currencies, slides 0.52% down to 98.87. The UoM Consumer Sentiment eased slightly to 55 from 55.1, exceeding forecasts for a deeper deterioration. The poll showed that sentiment declined amongst Democrats. Overall, consumers were pessimistic about future…
Filed under: News - @ October 10, 2025 10:25 pm