The EUR/USD started a fall from 1.17284 around 6:00 am EDT this morning to 1.16798 at 10:00 am EDT. I must have missed something news wise that occurred outside of speeches made by Federal Reserve Bank of San Francisco president Mary Daly and Federal Reserve Board governor Christopher Waller. There was not much in terms of economic data from the U.S. or Europe.
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More than likely this was a reaction to the markets taking not so much a sigh of relief but letting a little air out of the lungs regarding responses to U.S. President Donald Trump’s notice to a number of countries threatening to impose additional tariffs. According to a report out of Reuters, there were expectations that ongoing negotiations between the United States and its allies could yield agreements before the 1 August deadline.
As of 5pm EDT, the EUR/USD was at 1.17001.
Using data from x-rates.com, I determined that the EUR/USD has averaged 1.1731 over the last four days. I expect that tomorrow’s (Friday, 11 July) EUR/USD 3pm contract on the NADEX will expire above 1.1625.
Alton Drew
10 July 2025
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