Friday, 05 September 2025
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
EUR/USD rises toward 1.0900, upside seems limited ahead of US presidential election
Monday, 4 November 2024 08:14 WIB | EUR/USD | EuroEUR/USD

EUR/USD retraces its recent losses from the previous session, trading around 1.0880 during Asian hours on Monday. The pair's upside can be attributed to a softer US Dollar (USD) after the release of weaker-than-expected US October Nonfarm Payrolls (NFP) data. However, uncertainty surrounding the US presidential election could drive safe-haven flows, potentially limiting the upside of the EUR/USD pair.

On Friday, data from the US Bureau of Labor Statistics (BLS) indicated that October's NFP increased by only 12,000, following a revised September gain of 223,000 (down from 254,000), which fell well short of market expectations of 113,000. Meanwhile, the Unemployment Rate remained steady at 4.1% in October, matching the consensus forecast.

According to the final New York Times/Siena College poll, cited by Reuters, Democratic candidate Kamala Harris and Republican nominee Donald Trump are locked in a close contest across seven battleground states just two days before the US presidential election.

The poll shows Vice President Kamala Harris with slight leads in Nevada, North Carolina, and Wisconsin, while former President Donald Trump holds a narrow advantage in Arizona. The two are in tight races in Michigan, Georgia, and Pennsylvania. The poll, conducted from October 24 to November 2, indicates that all matchups in these states fall within the 3.5% margin of error.

The Euro found support from stronger-than-expected economic growth in the third quarter and higher-than-anticipated inflation in the Eurozone, prompting traders to reassess expectations for a larger-than-usual rate cut by the European Central Bank (ECB) in December. Markets have now fully priced in a 25 basis point cut in the ECB's deposit rate for December, which would be the fourth reduction this year following cuts in October, September, and June.

Preliminary data showed that the Eurozone Harmonized Index of Consumer Prices rose to 2.0% year-over-year in October, up from 1.7% previously and beating forecasts of 1.9%. Meanwhile, the annual core inflation rate held steady at 2.7%. Additionally, Eurozone Gross Domestic Product (GDP) grew by 0.4% quarter-over-quarter in Q3, doubling the growth seen in Q2 and surpassing expectations of 0.2%.

Source : Fxstreet

 

RELATED NEWS
EUR/USD holds steady near 1.1650 ahead of US PMI data...
Friday, 5 September 2025 04:27 WIB

EUR/USD trades marginally lower on the day at around 1.1650 on Thursday. The data from the US showed that private sector payrolls rose 54,000 in August, missing the market expectation of 65,000 and he...

EUR/USD Stagnates Ahead Of Eurozone Retail Sales Release ...
Thursday, 4 September 2025 16:05 WIB

The EUR/USD pair traded slightly lower at 1.1650 at the opening of the European session on Thursday (September 4th). The pair continues to search for direction, not far from the lower end of its tradi...

EUR/USD rebounds to 1.1660 as weak US data fuels Fed cut bets...
Thursday, 4 September 2025 04:53 WIB

The EUR/USD trims some of Tuesday's losses though it remains shy of claiming the 1.1700 figure, despite broad US Dollar weakness across the board. Economic data in the US strengthened the chances that...

EUR/USD plunges below 1.1700 as Fed turmoil sparks risk-off move...
Wednesday, 3 September 2025 04:43 WIB

The Euro tumbles late in the North American session, down by over 0.60% due to a risk-off mood triggered by threats to the independence of the Federal Reserve (Fed) and controversial US policy. Concer...

EUR/USD Weakens From Highs Ahead Of Eurozone Inflation Data ...
Tuesday, 2 September 2025 15:25 WIB

The EUR/USD pair ended its five-day winning streak on Tuesday and weakened from Monday's high of 1.1735, trading just below 1.1700 at the time of writing at the European open. Investors are hesitant a...

LATEST NEWS
Oil prices ease as investors await OPEC+ output decision

Oil prices drifted down in early trading on Friday for the third straight day as investors awaited an OPEC+ meeting this weekend that will consider further output hikes.Brent crude futures fell 23 cents, or 0.3%, to $66.77 a barrel at 0012 GMT,...

Japanese Shares Rally as Trump Lowers Auto Tariffs

The Nikkei 225 jumped 1.2% to around 43,100 and the Topix gained 0.8% to 3,105 on Friday, with Japanese equities rising for a second session after US President Donald Trump signed an executive order cutting tariffs on Japanese cars to 15% from...

Asia-Pacific markets open higher after Trump formalizes lower Japanese auto tariffs

Asia-Pacific markets opened higher Friday after U.S. President Donald Trump signed an executive order Thursday formalizing a lower Japanese auto import tariff of 15%, down from 27.5%.The order also confirms the agreement for $550 billion of...

POPULAR NEWS
JOLTS Job Openings Expected To Decrease In July Ahead Of Important Nonfarm Payrolls Report
Wednesday, 3 September 2025 17:46 WIB

The US Bureau of Labor Statistics (BLS) will release the Job Openings and Labor Turnover Survey (JOLTS) on Wednesday. This publication will provide...

Fiscal jitters push Wall Street stocks down, European bond yields to multiyear highs
Wednesday, 3 September 2025 02:02 WIB

Global stocks fell and long-dated bond yields in Europe hit multiyear highs on Tuesday as investors grew increasingly worried about the state of...

Content of President Trump's Publicly Released Speech
Wednesday, 3 September 2025 04:09 WIB

In his first press conference in a week, President Donald Trump dismissed rumors of his death circulating on social media. In a casual tone, Trump...

Asia markets mostly fall, tracking losses on Wall Street
Wednesday, 3 September 2025 07:25 WIB

Asia-Pacific markets mostly fell Wednesday, tracking losses on Wall Street as investors assessed rising global bond yields and the latest...