The post EUR/USD slips as Greenback gains on data surge, trade fears rattle markets appeared on BitcoinEthereumNews.com.

EUR/USD falls to 1.1379 as the US labor market shows strength, boosting DXY after recent weakness. Trump set to speak with Xi; plans to double steel and aluminum tariffs fuel global trade fears. Soft Eurozone inflation reinforces expectations for ECB rate cut at upcoming policy meeting. EUR/USD retreats after hitting a six-week peak of 1.1454 on Tuesday amid increasing concerns of market participants regarding the trade war ignited by the United States (US). The Greenback’s appreciation weighs on the pair, which trades at 1.1379, down 0.52%. Wall Street remains in the green as news emerged that US President Donald Trump is reportedly set to speak with Chinese President Xi Jinping this week, according to Reuters sources. Data from the United States lifted the US Dollar (USD), which has been battered and lost nearly 2% this week, according to the US Dollar Index (DXY). April’s US Job Openings and Labor Turnover Survey (JOLTS) was better than expected, hinting that the labor market is solid. Meanwhile, Factory Orders fell sharply in April as manufacturing activity is pressured due to US President Donald Trump’s tariffs. Uncertainty about US trade policies is also a reason behind the decline of the EUR/USD pair. The White House Press Secretary Karoline Leavitt said that the trade offer deadlines can confirm the letter is authentic and on track to good deals. She added that President Trump will sign an executive order to double tariffs on steel and aluminum on Tuesday, which will take effect on Wednesday. Across the pond, the Eurozone Harmonized Index of Consumer Prices (HICP) inflation data for May fell below the European Central Bank (ECB) objective. This reaffirms expectations that the ECB might cut rates this week, a path that began last June. In the Eurozone, the docket will feature the European Central Bank monetary…

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Filed under: News - @ June 4, 2025 12:28 am