Companies in Europe expect a 0.7% year-on-year decline in profits in the second quarter, while a week earlier analysts had forecast only a 0.2% drop. This corporate reporting season is the first where the full effect of Trump's tariff policy is being felt. Trump recently renewed his threat to impose 30 percent tariffs on EU imports from August 1, although EU ministers remain confident a deal can be reached before that deadline. On the background of these data, as well as under the pressure of a strengthening dollar, the pairEUR/USD declined. However, at the current moment, the market found local support in the area described earlier: 1,1600-1,1630. More significant activity of buyers may occur at a decline to the range: 1.1450-1.1530.