Ukraine peace talks gain momentum as Trump and European leaders signal progress

The momentum surrounding Ukraine peace talks has reportedly increased, with President Trump stating negotiations are getting closer. Following discussions, European leaders echoed this sentiment, confirming a coordinated effort in progress. Security guarantees are largely agreed upon, yet territorial issues remain a critical point of unresolved concern. Trump's optimistic tone suggested that we might have clarity on the outcome within weeks, despite some remaining 'thorny' issues. Market response appears cautious; there's a possibility that the euro might benefit if energy costs are expected to decrease. However, without concrete milestones such as a meeting between Trump and Putin or a signed agreement, the market seems to expect only incremental progress rather than a decisive shift. Currently, the EUR/USD is trading around 1.1765, with low market participation expected as many traders are away during this period.