The week started with another high-profile announcement by US President Donald Trump Trump, who, speaking to reporters, announced the introduction of 25% duties on U.S. steel and aluminum imports. He also promised new tariffs, which could be enacted as early as Tuesday or Wednesday. German Chancellor Olaf Scholz said the EU is ready to take action in response to the new duties "within the within the hour."

Against this backdrop, investors rushed to sell risky assets. Euro also came under pressure.

Questions related to these events will surely be asked to Fed Chairman Jerome Powell when he speaks to the Congress on Tuesday and Wednesday. Fed Chairman Jerome Powell when he addresses the Congress on Tuesday and Wednesday. Technically, the single European currency remains under pressure, but the the low set on January 13 has not yet been updated.