Important events today:

09:00 UTC: EUR – Retail Sales Change.

The EUR/USD rate is declining after gains in the previous session, trading around 1.1780 during Monday’s Asian session. The pair is struggling due to renewed tariff concerns triggered by comments from U.S. Treasury Secretary Scott Bessent. Later in the day, eurozone retail sales and German industrial production data will be released.

Treasury Secretary Bessent said on Sunday that U.S. President Donald Trump will send letters to some trading partners warning that tariffs may return to April 2 levels on August 1 if no progress is made in trade negotiations. He clarified that August 1 is not a new tariff deadline but suggested it may give trading partners more time to reconsider tariff rates.

Additionally, Commerce Secretary Howard Lutnick confirmed that new tariffs will take effect on August 1. Lutnick added that Trump is finalizing specific rates and agreements and may send 12 or 15 tariff letters on Monday. He also indicated that trade agreements or letters with most countries will be ready by July 9.

The European Union (EU) Commission announced it is close to concluding a framework trade agreement with the United States (U.S.) to avoid the reintroduction of aggressive tariffs before the July 9 deadline. Bloomberg also reported that “some automakers and EU capitals are pushing for an agreement with Trump that would lower tariffs in exchange for increased investment in the U.S.”

Recommendations: SELL 1.1760, SL 1.1780, TP 1.1660.