Euro extends gains on weak U.S. data – How long can it last?
The euro hit $1.1779, its highest since late July, as weak U.S. labor data fueled expectations of a Fed rate cut next week. Slowing job growth and rising unemployment pressured the dollar, supporting EUR/USD.
While the Fed is expected to ease policy, the ECB is likely to keep rates steady, reinforcing euro strength. However, political uncertainty in France—after Prime Minister Francois Bayrou lost a confidence vote—may cap gains. Analysts expect a drag on the euro as the outcome was largely priced in.
Markets will focus on the Fed meeting. A confirmed cut could push the dollar lower and lift EUR/USD, but any ECB hints of easing could trigger a correction.
The euro hit $1.1779, its highest since late July, as weak U.S. labor data fueled expectations of a Fed rate cut next week. Slowing job growth and rising unemployment pressured the dollar, supporting EUR/USD.
While the Fed is expected to ease policy, the ECB is likely to keep rates steady, reinforcing euro strength. However, political uncertainty in France—after Prime Minister Francois Bayrou lost a confidence vote—may cap gains. Analysts expect a drag on the euro as the outcome was largely priced in.
Markets will focus on the Fed meeting. A confirmed cut could push the dollar lower and lift EUR/USD, but any ECB hints of easing could trigger a correction.
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Telegram Channel:
t.me/elibrianalytics
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t.me/elibrianalytics
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Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.