EUR/USD extends its winning spree for the third consecutive trading session on Friday, trading close to a fresh weekly high of 1.1120.
EUR/USD extends its upside above 1.1100 as signs of a slowdown in US labor demand weigh on the US Dollar. Investors await the US NFP for August as markets wonder if July’s report was just a bump or the start of a more serious deterioration. The ECB is expected to cut interest rates two more times this year. Decent gains in the shared currency pair are driven by sheer weakness in the US Dollar .
ECB Executive Board member Piero Cipollone said in an interview with a French newspaper this week that there is a real risk that stance could become too restrictive. Technical Analysis: EUR/USD holds gains above 1.1100 EUR/USD remains steady above the round-level figure of 1.1100. The near-term outlook of the major currency pair remains firmas it managesto gain firm footing near the 20-day Exponential Moving Average around 1.1055.
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