| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 06:45 | France | Trade Balance, bln | February | -6.5 | -5.4 | -7.9 |
EUR traded mixed against other major currencies in the European session on Tuesday as investors reacted to signs of trade dialogue between the European Union (EU) and the U.S.
The single European currency rose versus USD, fell versus AUD, CAD and CHF, and changed little versus GBP.
The European Commission’s (EC) president Ursula von der Leyen confirmed yesterday that the EU is ready to negotiate on trade issues with the United States. She also revealed that the EU proposed a "zero-for-zero" tariff deal for industrial goods, but U.S. President Donald Trump rejected the offer.
The EC also warned about the intention to impose tariffs at 25% on a range of U.S. goods in response to Trump’s tariffs on imports of steel and aluminium.
Meanwhile, the European Central Bank’s vice president Luis de Guindos stated on Tuesday that he is relatively optimistic about the region’s ability to navigate trade tensions with the U.S.
Elsewhere, today’s data showed that France's trade deficit unexpectedly widened to EUR7.9 billion in February, the highest level in five months, due to increased imports.
Investors also prepare for the ECB’s policy meeting, which is due next week, at which another rate cut is widely anticipated. Bets for the April rate decrease increased noticeably after Trump’s April 2 tariff announcement, which declared a 20% levy on the EU’s imports - the step, which is expected to hurt the Eurozone’s growth and weigh on consumer prices.