Okay, so let’s dive into this whole crazy week for the EUR/USD. Honestly, I don’t even know why, but this stuff fascinates me—like watching a slow-motion car crash. Anyway, here we go.
So, first off, the EUR/USD pair—let’s just call it the pair, because who has time to type all that?—yeah, it kind of tripped over itself this week, losing over 0.70%. By Friday, it was chilling below 1.1700, around 1.1688 if we’re being precise. Not that it really matters, but, you know, details.
Now, let’s talk about Trump. This guy, seriously, he was all about slapping tariffs left, right, and center. And not just on countries, but on copper too, because why not? Rumor has it he’s readying a letter to the EU. Why a letter? Who still writes those? Lost art, I guess.
But wait, there’s more! The US dollar having its best time since March. I read somewhere it’s like risking the whole shebang or something. Makes you wonder if the dollar’s the teacher’s pet.
Oh! Meanwhile, across “the pond” (kind of hate that phrase, but there it is), the euro was seriously sweating. This whole tariff thing? Made people jittery—especially with talks of a 35% tariff on Canada and whispers of 15%-20% blanket tariffs. Blanket tariffs. I picture a blanket covered in “tariff” labels. No idea why.
And don’t even get me started on the Fed and ECB drama. Chicago Fed President Austan Goolsbee—dude sounds important—said tariffs complicate seeing the real economy. Basically, it’s like trying to drive through fog, but you can’t even find the headlights. Rate cuts could get delayed, he said. Fun times.
The ECB was doing its own thing too. Schnabel, she’s all, “No way we’re cutting rates unless inflation goes crazy.” Then Panetta’s like, “Yeah, but if stuff gets wobbly, we might have to.”
Oh, and Germany. I love Germany. They had this price data thing go up 0.2% in June after dropping in May. Yay for tiny victories!
Back to the pair—I mean the EUR/USD—for a sec. It slipped under 1.1700 but clung onto this 20-day simple moving average, which sounds really technical. Don’t ask me to explain, it’s a whole other rabbit hole.
Some nerves are wondering if it’ll dip towards 1.1650 or even 1.1500. Like a game of limbo. How low can you go, Euro?
This whole currency tango is just… well, it’s a lot. Think roller coaster, but with more numbers and less screaming. Or maybe the same amount of screaming? Hard to tell sometimes.
Alright, I rambled a lot. Hopefully, it makes some sense. If you’ve made it this far, congrats—I think?
