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Euro bulls wince as US-EU trade deal slams the brakes on rally - REUTERS

JULY 29, 2025

Summary

  • Euro saw biggest first half gains in its history
  • Speculative long euro bets at $18.4 billion ahead of weekend
  • Trade deal removes uncertainty for dollar as well as euro
  • Fears for dollar at start of year unrealised

LONDON, July 29 (Reuters) - Euro bulls are facing the first big test of their conviction in the form of the European Union's U.S. trade deal, which has cast doubt on the durability of one of 2025's most popular trades.
The euro, which hit a four-year high of $1.1830 earlier this month, on Tuesday was last at $1.1522, headed for its biggest two-day drop in nearly three years , after the EU agreed to a 15% tariff on its U.S. exports - half the rate President Donald Trump had previously threatened, but well above the roughly 1.5-2% rate prior to his return to the White House.

MARKET NEWS

July 29 Rupee falls to near 87 per dollar as trade uncertainty, outflows persist - REUTERS July 29 Bank of England data points to mini-boom in UK property market - YAHOO FINANCE July 29 Pound at 10-week low against dollar after US-EU trade deal - REUTERS July 29 IMF slightly raises India's growth forecast to 6.4% - REUTERS July 29 The $6tn bank tweak that risks triggering the next crisis - THE TELEGRAPH July 29 Analysis-Bank of England poised to slow QT after rise in yields - REUTERS July 29 Euro-fuelled dollar surge adds to headwinds facing rupee - REUTERS July 29 CBN data shows naira appreciates slightly, external reserves climb - PM.NEWS July 29 Euro bulls wince as US-EU trade deal slams the brakes on rally - REUTERS July 29 Nigeria’s trade rebounds as currency stabilises July 29 Nigeria’s Bature Brewery taps into $7 billion beer market July 29 IMF lifts 2025 GDP emerging economies' outlook on improved China view - REUTERS July 29 Dollar reaches one-month high versus euro on trade deal optimism, Fed in view - REUTERS July 29 Euro zone consumers cut near-term inflation expectations, ECB survey shows - REUTERS July 29 IMF retains Nigeria’s GDP growth at 3.4 % after rebasing July 29 FPIs dominate inflows for 10 straight weeks as naira sustains stability July 29 RenCap Africa analysts say naira over valued by 26% - BUSINESSDAY July 29 Euro zone consumers cut near-term inflation expectations, ECB survey shows - REUTERS July 29 Fidelity Says $4,000 Gold Possible as Fed Cuts, Dollar Drops - BLOOMBERG July 29 FX liquidity revives naira payment for foreign school fees, medical bills July 29 BOJ to Hold Rate Steady With Likely Upgrade to Price View July 29 Nigerian banks resume naira card payments for foreign tuition via CBN’s Form A - THE GUARDIAN July 28 Top Forecaster Sees Loonie’s Rise Tamed by Canada Rate Cuts - BLOOMBERG July 28 Offshore investors buy South African stocks and bonds - REUTERS July 28 Dollar Climbs Most Since May as Trade Jitters Ease: Markets Wrap - BLOOMBERG July 28 Uganda to debut 25-year bond as it seeks to extend maturity of its debt - REUTERS July 28 Oil jumps as Trump shortens Russia's deadline to end Ukraine war, US-EU trade deal sp... (read more) July 28 Oil prices rise as US-EU deal lifts trade optimism - YAHOO FINANCE July 28 Sterling bounces off two-year low on euro, soft on dollar - REUTERS July 28 South African rand starts data-filled week softer, eyes on tariff deadline - REUTERS
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