EUR/USD gains as Trump delays EU tariffs from June to July
European equity futures surged 1.5% in early Monday trading, with EUR/USD climbing 0.4% to 1.0845 as President Trump postponed planned 50% EU tariffs from June 1 to July 9, opting for negotiations instead. The delay provided immediate relief to European markets after Friday's sharp selloff triggered by the initial tariff announcement. German DAX futures rose 1.4%, reflecting improved risk sentiment across European assets. The euro's strength was further supported by broad dollar weakness, with the greenback declining against all major currencies in Asian trading. Technical indicators suggest EUR/USD faces immediate resistance at 1.0880, with support established at 1.0800. The tariff delay creates a temporary window of stability for EUR/USD, though uncertainty remains regarding July negotiations. Traders should monitor upcoming EU-US trade discussions and any shifts in Trump's stance that could trigger volatility.
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