EUR/USD faced renewed upward pressure and rose to levels just shy of 1.1100 the figure on Wednesday, bolstered by the resurgence of strong selling pressure in the US Dollar (USD) in response to disappointing results in the US labour market.
EUR/USD bounced to weekly highs near the 1.1100 hurdle. Further easing of the US labour market hurt the Dollar. Markets’ attention now shifts to ADP and weekly Claims. EUR/USD faced renewed upward pressure and rose to levels just shy of 1.1100 the figure on Wednesday, bolstered by the resurgence of strong selling pressure in the US Dollar in response to disappointing results in the US labour market. In fact, the US Dollar Index came under pressure and flirted with four-day lows near 101.
Furthermore, Governing Council member Kazaks reiterated that interest rates need to be lowered and mentioned that the debate is focused on the pace and magnitude of the cuts. Executive Board member Cipollone cautioned that there is a genuine risk of the current policy stance becoming too restrictive. Governing Council member Stournaras remarked that even after rate cuts, the policy would still remain restrictive.
Currencies Recommended ECB Fed
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EUR/USD Price Forecast: The bullish bias persists above the 200-day SMAOn Wednesday, EUR/USD met further selling interest, adding to Tuesday’s pullback and revisiting the key 1.0900 neighbourhood on the back of the continuation of the US Dollar’s (USD) weekly comeback and a generally positive tone in global stock markets.
Read more »
EUR/USD Price Forecast: Next on the upside still comes 1.1000EUR/USD faced additional selling pressure, adding to the weekly leg lower and revisiting the sub-1.0900 yardstick, or four-day lows.
Read more »
EUR/USD Price Forecast: 1.1000 appears to be a tough nut to crack for buyersThe EUR/USD pair trades with mild gains around 1.0920 during the early European session on Monday.
Read more »
EUR/USD Price Forecast: Extra consolidation seems on the cards near termAfter many days of losses, EUR/USD finally managed to regain some balance and advance to the 1.0940 region at the beginning of the week, ending the session with decent gains amidst the generalized flat-lined mood in the broader FX galaxy.
Read more »
EUR/USD Price Forecast: A move to 1.1000 starts shaping upEUR/USD extended Monday’s advance and flirted with the 1.0980 zone on turnaround Tuesday, picking up momentum on the back of the intense sell-off in the US Dollar (USD).
Read more »
EUR/USD Price Forecast: Next hurdle comes at 1.1140EUR/USD extended its gains for the third consecutive day on Wednesday, hitting fresh YTD peaks near 1.1050 on the back of further bearishness surrounding the US Dollar (USD).
Read more »