EUR/USD Hits Six-Month Low Amid US Trade Concerns and Euro Weakness
EUR/USD fell to a six-month low, trading below 1.0620 due to worries about US-EU trade relations under President-elect Donald Trump, who has pledged to increase tariffs on imports. Concerns over Eurozone exports weigh on the Euro, while the US Dollar gains strength as Trump's policies boost American business optimism.
Adding to Euro pressures, German political uncertainty following the collapse of the three-party coalition and Chancellor Olaf Scholz’s upcoming confidence vote could lead to instability. Economic sentiment in the Eurozone also dipped, with November’s ZEW Index showing weaker optimism.
Technically, EUR/USD remains bearish as it approaches 1.0600 support, with further downside potential toward 1.0500 if this level breaks.