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After extensive speculation, the US and China have finally agreed on the much-talked-about phase one trade deal.
The announcement comes just before a fresh round of tariffs were to come into effect on goods imported from China.
Washington said that, while the 25% tariff will remain, it would cut the 15% levies by half. Investors expect further details over the coming weeks.
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Euro Gives Back Gains Amid a Busy Day
The euro was trading stronger on Friday but gave back the gains by closing hours. The euro was buoyed by the outcome of the UK elections.
News about the trade deal also saw a bit of volatility for the US dollar. However, the euro ignored the weak retail sales report, trading off the global cues.
EURUSD Reverses Gains Off Resistance
The common currency rose to the resistance level of the 1.1200 – 1.1180 region. But price action quickly reversed, pushing EURUSD ...
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