German finance minister Klingbeil says:

  • Trump tariff threatens the American economy at least as much as the companies here in Europe
  • EU fiscal rules give flexibility and I have received positive signals of support from the commission on Germans plans
  • Expects economic growth in the second half of the year with approved government measures.
  • Coalition has no time for battles amid all the global challenges on which we should focus.

The EURUSD dipped to test yesterday’s low near 1.15915, but rebounded following the release of softer-than-expected PPI data. The pair is currently trading around 1.1610. On the upside, resistance is noted between 1.1614 and 1.1629, with today’s high stalling just below that zone at 1.1628 before pulling back. Getting above would give the seller some cause for pause.

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EURUSD Technicals

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Source: Forex Live