EUR/USD REMAINS WELL BID AROUND 1.1350 AHEAD OF US PPI
EUR/USD REMAINS WELL BID AROUND 1.1350 AHEAD OF US PPI
The US Dollar (USD) faced pressure following China's announcement of raising tariffs on US goods to 125%, effective April 12.
This move was a retaliatory measure in the escalating trade tensions between the two countries.
In response to the USD's weakness, the EUR/USD currency pair remained well supported around the 1.1350 level.
Market participants are awaiting the release of the US PPI data, which will provide insights into inflation at the wholesale level and could influence the Federal Reserve's monetary policy decisions.
China's new tariffs target approximately $144 billion worth of US exports, including agricultural commodities like soybeans.
The tariffs are set to take effect starting April 12.
The trade tensions have contributed to market volatility, with investors closely monitoring economic indicators like the US PPI for clues on future Federal Reserve actions.
