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EUR/USD climbs to near 1.1750 as tariffs uncertainty downs the US Dollar
EUR/USD stays firm near 1.1750 in the European session on Tuesday. The pair is helped by renewed US Dollar weakness amid uncertainty around US President Trump's tariff plans. Additionally, optimism surrounding a likely EU-US trade deal underpins EUR/USD.
GBP/USD rises toward 1.3650 on renewed US Dollar weakness
GBP/USD advances toward 1.3650 in European trading on Tuesday. The US Dollar loses ground as traders adopt caution after US President Donald Trump announced updated tariff rates on 14 countries that have yet to secure trade deals with Washington, boding well for the pair.
UPCOMING CALENDAR EVENTS
Editors’ Picks
Gold price drifts lower as reduced Fed rate cut bets offset trade jitters
Gold price attracts fresh sellers amid diminishing odds for a rate cut by the Fed in July. Concerns about the economic fallout from Trump’s tariffs weigh on investors’ sentiment. The emergence of some USD weakness might contribute to limiting losses for the XAU/USD pair.
Altcoin to watch this week: Polymesh remains strong despite Bitcoin slipping below $109,000
Polymesh (POLYX) continues to extend its gains, trading around $0.132 at the time of writing on Tuesday, after a 5% rally over the past two days. Derivatives data reinforces the bullish sentiment, with POLYX’s funding rates turning positive, open interest climbing and long positions increasing.
US stocks open lower as Trump threatens additional tariffs on BRICS nations Premium
US stock market indices opened lower on Monday following the Fourth of July holiday last Friday. US President Donald Trump threatened to lob another 10% tariff on BRICS-aligned countries, and the President said his final trade offers will be sent to respective countries at 12:00pm EST before his July 9 deadline.