EUR/USD surges above 1.0950 on Trump's 50% Europe tariff threat

EUR/USD spiked 0.8% to 1.0965 after President Trump threatened 50% tariffs on European imports and 25% on Apple products, triggering a sharp sell-off in US equity futures and dollar weakness. The euro benefited from safe-haven flows as S&P 500 futures plunged 1.5%, while US Treasury yields fell 8 basis points to 4.42%. Gold jumped $25 to $2,685/oz, reflecting heightened market uncertainty. The tariff threats raise concerns about renewed trade tensions and potential retaliatory measures from the EU, which could disrupt global supply chains. Technical indicators show EUR/USD breaking above the 1.0950 resistance level, opening the path toward 1.1000. Support has formed at 1.0920, with the pair maintaining bullish momentum above its 50-day moving average. Traders are positioning for increased volatility as markets assess the likelihood and timing of these proposed tariffs.