EUR/USD is heading lower for the third day in a row, trading at 1.1775 at the time of writing on Friday, down from the four-year highs above 1.1900 hit earlier this week. A larger-than-expected decline in weekly US Initial Jobless Claims and a sharp rebound in the Philadelphia Fed Manufacturing Survey provided additional support to the US Dollar on Wednesday.
In Europe, the calendar has been light, but a new wave of anti-austerity protests is gathering strength in France, which is adding weight to the Euro (EUR). Hundreds of thousands of people gathered in France's main cities on Thursday to pressure French President Emmanuel Macron and the new Prime Minister, Sébastien Lecornu, to scrap plans to cut spending proposed by the previous Prime Minister, François Bayrou.
Meanwhile, the US Supreme Court said that it will decide on the legality of trade tariffs on November 5. This has been one of the leading measures of US President Donald Trump's second term and was put into question by a lower court ruling that the republican overstepped his authority by invoking a federal law meant for emergencies.
All in all, the US Dollar (USD) maintains a mild positive tone with a neutral market mood and the absence of key fundamental data in Europe or the US. However, upside attempts in the Greenback are likely to remain contained, with investors pricing in further Federal Reserve (Fed) monetary easing in the coming months.
Source : Fxstreet
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