The euro (EUR) posted a minimal loss of 0.08% against the US dollar (USD), trading below the 1.1800 mark on Wednesday. A worse-than-expected US jobs report raised speculation that the Federal Reserve (Fed) could cut interest rates amid growing fears of a recession in the world's largest economy. Currently, the EUR/USD pair is trading at 1.1795, almost unchanged.
On Wednesday, Automatic Data Processing (ADP) announced that private payrolls declined in June, marking the first decline in two years. Although the US dollar initially weakened, it recovered slightly, dragging EUR/USD back below the 1.1800 mark as traders prepare for the release of the latest employment figures.
US Nonfarm Payrolls (NFP) are expected to come in at 110K, below the 139K in May. The Unemployment Rate is forecast at 4.3%, up from 4.2%, but well below the 4.4% projected by the Federal Reserve for the end of the year.
A weaker-than-expected US jobs report could increase the chances of further easing by the Fed. Recently, Richmond Fed President Thomas Barkin stated that there is no urgency to change the current policy, noting that a large amount of incoming data is expected ahead of the July meeting.
In the Eurozone, the latest Unemployment Rate report rose from 6.2% to 6.3% in May, beating estimates and in line with the previous reading.
Meanwhile, European Central Bank (ECB) Policymakers made headlines. Mario Centeno said that the central bank remains cautious about the path of interest rates, while Olli Rehn added that they must be mindful of the risk of persistent inflation below the 2% target. Pierre Wunsch said he is not uncomfortable with market interest rate expectations. (alg)
Source: FXstreet
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 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...
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...
The STOXX 50 index edged up 0.1% to 5,390 points on Friday, its highest since late August, while the broader STOXX 600 also gained 0.1% to 555 points, as a jump in US jobless claims and a modest rise in inflation reinforced expectations of Federal...
Oil prices weakened again in Asian trading despite initial support from geopolitical issues. Brent fell to $65 per barrel and WTI to $61, pressured by the IEA's projection that global production will surge to 2.7 million barrels per day in 2025....
The Nikkei 225 climbed 0.89% to close at 44,768 and the Topix added 0.4% to 3,160 on Friday, with Japanese stocks hitting fresh record highs in line with Wall Street's overnight gains. On Thursday, all three major US indexes closed at all-time...
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...
Producer inflation in the United States, as measured by the change in the Producer Price Index (PPI), fell to 2.6% annually in August from 3.3% in...
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 US Bureau of Labor Statistics reported on Tuesday that the preliminary estimate of the Current Employment Statistics (CES) national benchmark...