EUR/USD Analysis - 06.03.2025
Euro Gains as U.S. Tariff Risks Weigh on Dollar
The euro climbed above $1.14 on Tuesday, its highest level since April 21, as investors pulled back from U.S. assets amid growing trade policy uncertainty. The move followed President Trump’s threat to double steel and aluminum tariffs and renewed tensions with China over a broken tariff truce. Focus now shifts to Thursday’s ECB meeting and Friday’s U.S. jobs data. While a 25 basis point rate cut is expected, attention will be on forward guidance as some ECB officials have urged caution to assess the impact of U.S. tariffs on inflation and growth.
The key resistance is located at 1.1460 and the first support stands at 1.1300.
