EUR/USD Consolidates Below 1.1435 Ahead of Key US Data and Fed Powell Speech

US Dollar Under Pressure Amid Renewed Tariff Threats and Trade Tensions

EUR/USD rose early Monday but hit resistance near 1.1435, remaining comfortably above 1.1400. The US Dollar remains pressured by renewed trade tensions following President Trump’s announcement of doubling tariffs on steel and aluminum imports from 25% to 50%, raising concerns about slower growth and higher inflation.

Market Eyes US ISM Manufacturing PMI and Fed Powell’s Comments

Market participants await today’s US ISM Manufacturing PMI release and upcoming speeches from Federal Reserve officials, especially Chair Powell. Investors will focus on inflation outlooks and the possibility of a July rate cut.

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