EUR/USD rebounds sharply as soft US jobs, GDP data sink US Dollar
The post EUR/USD rebounds sharply as soft US jobs, GDP data sink US Dollar appeared on BitcoinEthereumNews.com. EUR/USD rally sponsored by US jobless claims rise, Q1 US GDP confirms contraction. Markets now price in nearly 50 bps of Fed cuts by year-end amid weakening data. Traders eye Core PCE data Friday; German and Italian inflation to guide Euro’s next move. The EUR/USD rallies after hitting a weekly low of 1.1210, edging up over 0.70% on Thursday as jobs economic data from the United States (US) came in softer, weakening the US Dollar, which is also undermined by falling US yields. At the time of writing, the pair trades at 1.1376. The US economic docket revealed that Americans filing for jobless benefits increased in the week ending May 24, as reported by the US Department of Labor. Additionally, the confirmation of a contract in Gross Domestic Product (GDP) figures for Q1 2025 pressured the Greenback and lifted the EUR/USD above the 1.1300 figure. Following the data release, traders priced in almost two 25-basis-point (bps) interest rate cuts by the end of the year, according to the December 2025 fed funds rate futures contract. Other data showed that Pending Home Sales in April fell by the most since September 2022. Meanwhile, traders bought the Greenback, which, according to the US Dollar Index (DXY), is down 0.57%, at 99.30. Across the pond, the Eurozone (EU) economic docket was quiet today. However, it would gather pace on Friday. Germany will unveil Retail Sales for April and inflation figures for May. Italy will feature inflation figures. In the US, EUR/USD traders will take cues of the Core Personal Consumption Expenditures (PCE) Price Index, the Fed’s favorite inflation gauge, expected to slow moderately in April. Euro PRICE This week The table below shows the percentage change of Euro (EUR) against listed major currencies this week. Euro was the strongest against the Japanese Yen.…
The post EUR/USD rebounds sharply as soft US jobs, GDP data sink US Dollar appeared on BitcoinEthereumNews.com.
EUR/USD rally sponsored by US jobless claims rise, Q1 US GDP confirms contraction. Markets now price in nearly 50 bps of Fed cuts by year-end amid weakening data. Traders eye Core PCE data Friday; German and Italian inflation to guide Euro’s next move. The EUR/USD rallies after hitting a weekly low of 1.1210, edging up over 0.70% on Thursday as jobs economic data from the United States (US) came in softer, weakening the US Dollar, which is also undermined by falling US yields. At the time of writing, the pair trades at 1.1376. The US economic docket revealed that Americans filing for jobless benefits increased in the week ending May 24, as reported by the US Department of Labor. Additionally, the confirmation of a contract in Gross Domestic Product (GDP) figures for Q1 2025 pressured the Greenback and lifted the EUR/USD above the 1.1300 figure. Following the data release, traders priced in almost two 25-basis-point (bps) interest rate cuts by the end of the year, according to the December 2025 fed funds rate futures contract. Other data showed that Pending Home Sales in April fell by the most since September 2022. Meanwhile, traders bought the Greenback, which, according to the US Dollar Index (DXY), is down 0.57%, at 99.30. Across the pond, the Eurozone (EU) economic docket was quiet today. However, it would gather pace on Friday. Germany will unveil Retail Sales for April and inflation figures for May. Italy will feature inflation figures. In the US, EUR/USD traders will take cues of the Core Personal Consumption Expenditures (PCE) Price Index, the Fed’s favorite inflation gauge, expected to slow moderately in April. Euro PRICE This week The table below shows the percentage change of Euro (EUR) against listed major currencies this week. Euro was the strongest against the Japanese Yen.…
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