EUR/USD posts a fresh weekly high near 1.0580 in the European session on Friday ahead of the flash Eurozone Harmonized Index of Consumer Prices (HICP) data for November, which will be published at 10:00 GMT.
EUR/USD climbs to near 1.0580 as the US Dollar extends its correction. Investors await the preliminary Eurozone HICP data for November, which will influence the ECB ’s likely interest rate cut size prospects. ECB ’s Villeroy keeps hopes of an outsize interest rate cut in December on the table. EUR/USD posts a fresh weekly high near 1.0580 in the European session on Friday ahead of the flash Eurozone Harmonized Index of Consumer Prices data for November, which will be published at 10:00 GMT.
For the next week, investors should brace for high volatility as a slew of employment and economic data will be published. Technical Analysis: EUR/USD rises to near 1.0600 EUR/USD extends its upside to near 1.0580 on Friday. The recovery in the major currency pair appears to be a mean-reversion move, which could extend to near the 20-day Exponential Moving Average around 1.0600.
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