EUR/USD gathered bullish momentum and gained more than 0.7% on Thursday.
EUR/USD fluctuates above 1.0550 after posting strong gains on Thursday. Investors await November Nonfarm Payrolls data from the US. Near-term technical outlook remains bullish, with next resistance aligning at 1.0600. Before testing 1.0600, however, the pair went into a consolidation phase and was last seen fluctuating at around 1.0570. Euro PRICE This week The table below shows the percentage change of Euro against listed major currencies this week.
Following the 12,000 increase recorded in October, because of hurricanes and strikes, Nonfarm Payrolls are forecast to rise by 200,000 in November. According to the CME FedWatch Tool, markets are currently pricing in about a 70% probability of a 25 basis points Federal Reserve rate cut in December. A disappointing NFP print of 150,000 or lower could confirm a rate reduction and further weigh on the USD.
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