Euro struggles over US tariff fears
|The euro remains the worst performer in the G10 since the election, as investors brace for onerous US tariffs on Europe following the appointments of hardliners within the new Trump cabinet.
For now, EUR/USD appears to have hit a temporary floor around the 1.05 level, and it may be difficult to break below this threshold aside from any additional negative headlines, either out of Europe or the incoming Trump administration.
All eyes in the Euro Area this week will be on the October business activity PMI numbers on Friday, with economists pencilling in another reading of 50 that would signify flat growth. In the meantime, communications from ECB members Lagarde and De Guindos (Wednesday and Friday) and Cipollone, Elderson and Lane (Thursday) could prove market moving.
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