Overall, it's been a quiet session with the positive risk sentiment after Trump's overnight comments holding up well. We saw a bit of a turnaround though as the Washington Post reported that White House aides have drafted a proposal to impose tariffs of around 20% on at least most imports to the US.
The article contained lots of warnings though as it added that White House cautioned that several options are on the table and no final decision has been made.
WAPO then reported that the European Union is weighing whether to hit the big US tech firms in response to Trump tariffs. This is an old news though as the Financial Times reported on the matter already back in February.
This is the expected noise that we will likely endure until the official announcement tomorrow.
In other news, the Eurozone CPI came out a bit softer than expected with services inflation now coming down more substantially. This has strenghtened the market probability for a 25 bps cut at the upcoming ECB meeting to 84%.
In the American session, the focus will be on the US ISM Manufacturing PMI and the US Job Openings data decorated with potentially more tariff noise.
This article was written by Giuseppe Dellamotta at www.forexlive.com.Hence then, the article about forexlive european fx news wrap tariff noise ahead of the official announcement was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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