EUR/USD falls on calm markets despite EU-US tariff deal breakthrough
EUR/USD declined 0.4% to 1.0780 during Monday's European session, despite the announcement of a comprehensive EU-US tariff reduction agreement. Markets remained subdued following last week's volatility, with traders appearing to discount the positive trade development. The dollar index strengthened 0.3% to 103.20, supported by safe-haven flows amid lingering concerns about global growth. European equity markets showed mixed performance, with the DAX up 0.2% while the CAC 40 fell 0.1%. Technical indicators suggest EUR/USD faces immediate resistance at 1.0820 (Friday's high), with support at 1.0750 (200-day moving average). The muted reaction to positive trade news indicates traders are focusing more on monetary policy divergence between the ECB and Fed, with markets pricing in higher-for-longer US rates compared to European counterparts.
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