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>>EUR/USD volatility: Supreme Court's pivotal tariff decision and Fed remarks fuel mid‑week market turbulence

EUR/USD volatility: Supreme Court's pivotal tariff decision and Fed remarks fuel mid‑week market turbulence

crypthub

about 3 hours ago

Market Overview

Mid‑week EUR/USD volatility surged as the pair moved within a 150‑pip band after a Supreme Court tariff decision and a slate of Fed speeches. Traders sought clues on trade policy and monetary stance, pushing volumes to 150 % of the 30‑day average. The episode highlighted the market’s sensitivity to simultaneous legal and policy news.

Supreme Court Ruling and Technical Landscape

The Court’s 6‑3 ruling affirmed presidential tariff authority over $45 bn of EU‑US trade, reducing long‑term legal uncertainty. Euro support held at 1.0720 and resistance near 1.0850, with a brief breach of the 50‑day moving average and expanded Bollinger Bands signaling heightened volatility. Options activity rose as participants hedged against further swings.

Fed Commentary and Trader Response

Five Fed officials spoke, emphasizing data‑dependence and a cautiously hawkish tone that nudged the dollar higher. Comments from New York Fed President John Williams and Vice‑Chair Philip Jefferson had the strongest market impact. The mixed messages created competing pressures, prompting traders to widen spreads, increase hedging, and adjust positions around key technical levels.