The EUR/USD pair weakens to near 1.0575 during the early European session on Friday.
EUR/USD edges lower to 1.0575 in Friday’s early European session, down 0.10% on the day. Trump tariff threats and rising bets on ECB rate cuts undermine the Euro. Investors await the US Nonfarm Payrolls for November, which is due later on Friday. Fears mount about US tariffs on European goods, and rising bets of interest rate cuts by the European Central Bank weigh on the Euro against the Greenback. Later on Friday, the US Nonfarm Payrolls will take center stage.
Elsewhere, French President Emmanuel Macron said on Thursday that he will appoint a new Prime Ministerin the coming days whose top priority will be getting a 2025 budget adopted by parliament, per Reuters. Any signs of political uncertainty in France could contribute to the EUR's downside. Across the pond, the expectation that the Federal Reserve will lower borrowing costs at its December policy meeting might drag the Greenback and cap the downside for EUR/USD.
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