EUR/USD traded higher near a one-week high around 1.1730 during the European trading session on Monday. The major currency pair strengthened as the US Dollar (USD) underperformed its peers amid strong expectations that the Federal Reserve (Fed) will continue its monetary easing cycle at its September policy meeting.
At the time of writing, the US Dollar Index (DXY), which tracks the greenback against six major currencies, was trading near its August low around 97.55.
According to the CME FedWatch tool, there is an 87.6% chance that the Fed will cut interest rates by 25 basis points (bps) at its September policy meeting.
Expectations for Fed dovishness have increased due to growing concerns about the labor market outlook due to tariffs imposed by US President Donald Trump. Furthermore, members of the Federal Open Market Committee (FOMC), including Chairman Jerome Powell, have expressed concerns about rising labor market risks.
For the latest clues on the current state of the US labor market, investors are awaiting a series of employment-related data, such as the JOLTS Job Openings data for July, as well as the ADP Employment Change and Nonfarm Payrolls (NFP) data for August, which will be released this week. (alg)
Source: FXstreet
The EUR/USD pair trades on a stronger note near 1.1705 during the Asian trading hours on Monday. The rising rate cut expectation from the US Federal Reserve (Fed) continues to weigh on the Greenback a...
EUR/USD loses ground after three days of losses, trading around 1.1660 during the Asian hours on Friday. Traders await July Retail Sales and August preliminary Consumer Price Index (CPI) data from Ger...
EUR/USD edges up late in the North American session on Thursday, as the US Dollar (USD) fails to gain traction on upbeat US data, amid the ongoing conflict between US President Donald Trump and Federa...
The EUR/USD retreats a minimal 0.10% on Wednesday as developments about the Federal Reserve's independence dissipated, while the French Prime Minister Bayrou called for a confidence vote. At the time ...
The EUR/USD pair edges lower to near 1.1630 during the Asian trading session on Wednesday. The major currency pair faces a slight selling pressure as political uncertainty in France has weighed on the...
Gold (XAU/USD) started the week on a positive note, extending its rally for the fifth consecutive day to reach its highest level in more than four months, last seen on April 22. A generally weaker US dollar (USD) and strong expectations for a Fed...
Silver prices (XAG/USD) strengthened, approaching their highest level since 2011. From a macro perspective, the rise was driven by strong expectations that the Fed will cut interest rates this month after PCE inflation data matched expectations,...
Oil prices rose more than 1% on Monday amid concerns over supply disruptions due to escalating Russian-Ukrainian airstrikes and a weakening dollar. Brent crude rose 83 cents, or 1.2%, to $68.31 a barrel at 12:15 GMT. U.S. West Texas Intermediate...
A U.S. appeals court ruled on Friday that most of President Donald Trump's global tariffs were illegal, finding he exceeded his authority when...
Indonesia's central bank will remain active in the foreign exchange market to stabilise the rupiah, it said on Friday, while the stock exchange...
US stocks fell in the afternoon trading as investors took profits following a strong week that saw the S&P 500 reach record highs, amid signs...
Asia-Pacific markets traded mixed Monday as investors assess China's RatingDog manufacturing data for August. The metric - which was previously...