EUR/USD stuck near 1.03 ahead of Retail Sales update
The post EUR/USD stuck near 1.03 ahead of Retail Sales update appeared on BitcoinEthereumNews.com.
EUR/USD shed 0.25% and fell back into the 1.0300 handle on Wednesday. Despite the midweek downside push, Fiber is holding above two year lows for now. EU Retail Sales, German Industrial Production, and US Challenger Job Cuts on the docket. EUR/USD fell back once again on Wednesday, dipping back into the 1.0300 handle as Fiber traders weigh mixed EU data while sitting in the shadow of Friday’s looming US Nonfarm Payrolls (NFP) jobs data dump. European data broadly recovered early Wednesday, with German Retail Sales and pan-European Producer Price Index (PPI) figures both rising from previous prints, but most data printed with below-average caveats, especially EU PPI inflation which remains in contraction territory. Euro traders will be hoping for an upside swing in pan-EU Retail Sales figures for the year ended in December, due early Thursday, but not until after German Industrial Production figures kick off the European trading session. A raft of speeches from Federal Reserve (Fed) policymakers await traders on Thursday, as well as Challenger Job Cuts for December, which will serve as the last punch of NFP preview data before the bumper labor print on Friday. ADP Employment Change in December showed slower hiring at 122K compared to 140K expected and 146K in November. Wage data is at its slowest since mid-2021. The Federal Reserve’s latest Meeting Minutes indicated greater concern over President Trump’s tariff plans than initially thought. Despite earlier reassurances from Fed speakers about immigration and trade policies’ minimal impact, the minutes highlighted four discussion points on major US policy changes affecting central banking. Additionally, the Fed agreed it was time to slow rate cuts, stressing that policy uncertainty is driving expectations for fewer cuts in 2025 than previously anticipated. EUR/USD price forecast EUR/USD near-term battle with the 1.0300 handle leaves Fiber traders pushed firmly…
Filed under: News - @ January 9, 2025 12:24 am