EUR/USD is kicking off the week on a weaker note, trading near 1.1320 during the Asian session on Monday. US President Donald Trump confirmed he would not seek to remove Federal Reserve (Fed) Chair Jerome Powell before his term ends in May 2026. While Trump criticized Powell, calling him "a total stiff," he reiterated that interest rates should eventually be lowered.
Additionally, the EUR/USD pair faces headwinds possibly from potential trade tensions. Trump announced plans to direct the US Trade Representative and Commerce Department to begin the process of imposing a 100% tariff on foreign-produced movies.
On the data front, the US Nonfarm Payrolls (NFP) report showed a stronger-than-expected rise of 177,000 jobs in April, following a revised 185,000 increase in March. This beat the market forecast of 130,000. The unemployment rate remained steady at 4.2%, while average hourly earnings held at 3.8% year-on-year. Later on the day, traders will watch for the US ISM Services PMI for further direction.
The Euro found some support on Friday after stronger-than-expected Eurozone inflation figures. Harmonized Index of Consumer Prices held steady at 2.2% year-over-year in April, slightly above the forecasted 2.1%. Services inflation accelerated to 3.9%, and core inflation (excluding food and energy) rose to 2.7%, both above expectations. These readings reinforced market expectations for a cumulative 60 basis points (bps) in European Central Bank (ECB) rate cuts by year-end.
Source: Fxstreet
EUR/USD remains steady during the North American session on Friday, poised to end the week with modest gains of over 0.18% as traders brace for the next week's monetary policy decision by the Federal ...
The EUR/USD pair lost ground early in the European session and retreated to levels near 1.1700, amid volatile and volatile trading on Friday. Comments from ECB official Olly Rehn, who warned of downsi...
The EUR/USD pair recorded a slight decline on Thursday (September 11th), trading at 1.1695, but remained within the previous day's narrow range at the start of the European session. Investors were rel...
EUR/USD recorded a slight gain at 1.1760 after a two-day rally on Tuesday. The US dollar remained on the defensive as investors anticipated a sharp downward revision to US employment figures, although...
The EUR/USD pair strengthened, trading near 1.1715 at the open of the European session on Monday (September 8th). The common currency received support from a weakening US dollar following Friday's poo...
EUR/USD remains steady during the North American session on Friday, poised to end the week with modest gains of over 0.18% as traders brace for the next week's monetary policy decision by the Federal Reserve (Fed). At the time of writing, the pair...
U.S. Treasury Secretary Scott Bessent met with BlackRock Inc executive Rick Rieder in New York on Friday, as the Trump administration continued its search for a new chair for the Federal Reserve, a source familiar with the matter said. Bessent has...
Oil prices rose on Friday after a Ukrainian drone attack suspended loadings from the largest port in western Russia, but gains were capped by concerns about U.S. demand. Brent crude futures settled at $66.99 a barrel, up 62 cents, or 0.93%. U.S....
The International Monetary Fund on Thursday said the Federal Reserve has scope to lower interest rates because of the weakening U.S. labor market,...
The Federal Reserve is likely to start a series of interest-rate cuts next week and keep going through the end of the year, traders bet on Wednesday...
Annual inflation in the United States (US), as measured by changes in the Consumer Price Index (CPI), rose to 2.9% in August from 2.7% in July, the...
The S&P 500 notched a second straight record-high close on Wednesday, as Oracle surged and cooler-than-expected inflation data supported...