EUR/USD strengthened after hitting a weekly low of 1.1210, up more than 0.70% on Thursday (5/29) as weak US jobs data weakened the US dollar, which was also hit by falling US yields. At the time of writing, the pair was trading at 1.1376.
The US economic report revealed that Americans filing for unemployment benefits increased in the week ending May 24, as reported by the US Department of Labor. Moreover, confirmation of a contraction in Gross Domestic Product (GDP) figures for Q1 2025 weighed on the greenback and lifted EUR/USD above the 1.1300 mark.
Following the release of the data, traders are pricing in nearly two more 25 basis point (bps) interest rate cuts by the end of the year, according to the December 2025 federal funds rate futures contract.
Other data showed that Pending Home Sales in April fell by the most since September 2022.
Meanwhile, traders are buying the greenback, which according to the US Dollar Index (DXY), is down 0.57%, at 99.30.
Across the ocean, the Eurozone (EU) economic data is quiet today. However, the data is set to pick up on Friday. Germany will release April Retail Sales and May inflation figures. Italy will show inflation figures.
In the US, EUR/USD traders will take cues from the Core Personal Consumption Expenditures (PCE) Price Index, the Fed's favorite inflation gauge, which is expected to have slowed modestly in April. (alg)
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,...
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...
Asian stocks moved mixed on Thursday after Wall Street rallied and pushed the S&P 500 to a new record. A decline in US producer price inflation...
The University of Michigan (UoM) is expected to release the preliminary reading of its monthly Consumer Confidence Index for September on Friday....