Trump tariff unpredictability has led to a recovery for the Euro against the US Dollar, regaining 2% to climb above 1.04 since Monday. The currency pair had initially dropped to lows of 1.02, dragged down by fears that The US would move forward with tariffs on Mexico and Canada, as well as being touted to be followed up with The EU.
Tariffs of 25% on both neighbouring partners had seen The Dollar gain considerably against major currency peers, but with both countries being able to negotiate with President Trump, and with that bring a pause to these tariffs, markets have rebounded as there is now hope that Europe can do the same, if and when they are hit with similar tariffs.
This afternoon we have the release of ADP Employment figures for January. This is eagerly watched by traders due to it being released two days before Non-Farm Payrolls, and the general correlation between both releases.
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