EUR/AUD drops on trade worries, Australia’s data up next

Eurozone’s thin economic docket and German bond yield dip contribute to EUR’s decline.

Upcoming Aussie data includes Westpac Consumer Confidence and NAB Business Confidence.

EUR/AUD technicals suggest potential further downside with key support near 1.6100.

The Euro began the week on a lower note against the Australian Dollar, drops over 0.45% late during the North American session. A risk-off mood trade in the currency market, keept investors worried about possible tariffs by the upcoming Trump’s administration.  The EUR/AUD trades at 1.6207, after reaching a daily high of 1.6284.

EUR/AUD falls as traders eye potential tariffs under Trump and await key Australian data

A scarce economic docket in the Eurozone and Australia, left traders adrift to sentiment linked to the newly elected US President Donald Trump. However, European Central Bank (ECB) members Yannis Stoumaras commented ECB rates will hit 2% goal in September of 2025.

Another reason behind the Euro’s fall was the drop of the 10-year German Bund yield, down two basis points to 2.33%.

In the meantime, the Aussie’s economic docket will feature on Tuesday the release of the Westpac Consumer Confidence for November. October’s reading was 89.8, and any measure below that level, would indicate that Australians are feeling less optimistic on the economy.