EURUSD: SELL 1.1760, SL 1.1780, TP 1.1660 | 08 Julio 2025

Events to pay attention to today:

12:00 EET. EUR - Change in retail sales

EURUSD:

The EUR/USD exchange rate is falling after rising in the previous session, trading at around 1.1780 on Monday during the Asian session. The pair is struggling due to renewed tariff concerns sparked by comments from US Treasury Secretary Scott Bessent. Later in the day, data on retail sales in the eurozone and industrial production in Germany will be released.

Treasury Secretary Bessent said on Sunday that US President Donald Trump would send letters to some trading partners warning that tariffs could return to 2 April levels on 1 August if no progress is made in trade negotiations. He explained that 1 August is not a new deadline for introducing tariffs, but suggested that it could give trading partners more time to review tariff rates.

In addition, Commerce Secretary Howard Lute confirmed that the new tariffs will take effect on 1 August. Lute added that Trump is currently finalising specific rates and agreements and may send 12 or 15 letters on tariffs on Monday. He also indicated that trade agreements or letters with most countries would be ready by 9 July.

The European Union (EU) Commission announced that it was close to concluding a framework trade agreement with the United States (US) to avoid the reintroduction of aggressive tariffs before the 9 July deadline. In addition, Bloomberg reported that ‘some automakers and European Union capitals are pushing for an agreement with Trump that would lower tariffs in exchange for increased investment in the US.’

Trading recommendation: SELL 1.1760, SL 1.1780, TP 1.1660

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