The big news over the weekend:
Trump hits the European Union (EU) with a 30% tariff, starting on August 1
Since then:
Germanys Merz will work closely with Macron, von der Leyen to resolve trade ahead of Aug 1EU extends pause on US trade retaliation to allow more talks
The USD opened with a small gap stronger that was soon reatraced.
US equity index futures, on the other hand, opened with a small gap weaker and have not recovered.
EUR has risen higher, around 1.1695 vs. the USD while USD/JPY is down around 147.00.
AUD and Kiwi are dropping away:
Mixed performance.
Apart from what has already been posted there is no fresh news nor data.
China trade data is still to come:
Economic calendar in Asia 14 July 2025 – trade data from China for June
This article was written by Eamonn Sheridan at www.forexlive.com.