In Friday's Asian session, EUR/USD trades with a slight negative bias, reaching about 1.0415.
Last week, the US Initial Jobless Claims fell to their lowest level in a month.
The Euro may be impacted in the near future by the dovish ECB bets.
In Friday's Asian trading, the EUR/USD pair declines to about 1.0415. Due to the fact that many traders are on vacation before the new year, trading volumes are low. The US Goods Trade Balance preliminary reading for November will be made public later Friday.
Last week, the weekly Initial Jobless Claims fell to their lowest level in a month, according to data issued by the US Department of Labor on Thursday. In the week ending December 21, Americans submitted 219,000 new applications for unemployment benefits, down from 220,000 the week before. This reading was lower than the 224,000 market consensus.
In the meantime, the US Dollar Index (DXY) held below a two-year high hit on Friday, rising 0.02% to 108.10. The Federal Reserve (Fed) indicated that interest rate cuts would occur more slowly next year than they have in recent months, which could strengthen the value of the US dollar.
Boris Vujcic, a member of the European Central Bank's (ECB) Governing Council, stated last week that if incoming data confirms the central bank's forecasts, it is likely to lower borrowing costs once more. This year, the ECB has lowered interest rates four times, bringing the deposit rate down to 3.0%. Analysts predict that until it reaches 2.0% in June, policymakers will keep making these quarter-point adjustments. The shared currency may then decline in value relative to the US dollar as a result.
Last week, the US Initial Jobless Claims fell to their lowest level in a month.
The Euro may be impacted in the near future by the dovish ECB bets.
In Friday's Asian trading, the EUR/USD pair declines to about 1.0415. Due to the fact that many traders are on vacation before the new year, trading volumes are low. The US Goods Trade Balance preliminary reading for November will be made public later Friday.
Last week, the weekly Initial Jobless Claims fell to their lowest level in a month, according to data issued by the US Department of Labor on Thursday. In the week ending December 21, Americans submitted 219,000 new applications for unemployment benefits, down from 220,000 the week before. This reading was lower than the 224,000 market consensus.
In the meantime, the US Dollar Index (DXY) held below a two-year high hit on Friday, rising 0.02% to 108.10. The Federal Reserve (Fed) indicated that interest rate cuts would occur more slowly next year than they have in recent months, which could strengthen the value of the US dollar.
Boris Vujcic, a member of the European Central Bank's (ECB) Governing Council, stated last week that if incoming data confirms the central bank's forecasts, it is likely to lower borrowing costs once more. This year, the ECB has lowered interest rates four times, bringing the deposit rate down to 3.0%. Analysts predict that until it reaches 2.0% in June, policymakers will keep making these quarter-point adjustments. The shared currency may then decline in value relative to the US dollar as a result.
