The post EUR/USD strengthens as weak US labor data pushes cut odds to 90% appeared on BitcoinEthereumNews.com.

EUR/USD surges over 0.40% on Wednesday after economic data in the US reinforced bets that the Federal Reserve would cut rates at the December 9-10 meeting. The pair trades at 1.1668 after bouncing off daily lows of 1.1617. Euro extends rally as soft US employment data sinks the Dollar, while improving Eurozone PMIs bolster the bullish momentum The Dollar extended its losses as employment data revealed that private companies cut jobs at the fastest pace since 2023, revealed an ADP report. Given the backdrop, money markets priced in a 90% probability of a 25-basis point (bps) rate cut, next week. Consequently, the EUR/USD’s rally continued, despite that business activity in the services sector in the US expanded in November, according to the Institute for Supply Management (ISM). In Europe, the European Central Bank (ECB) President Christine Lagarde commented that “indicators of underlying inflation remain consistent with out 2% medium-term target,” adding that the bank expect inflation to stay near its 2% goal “in the coming months.” Data wise, HCOB Services and Composite PMIs for the Eurozone improved in November. Germany and France’s PMIs expanded as well, while in Spain, the HCOB Services PMI signaled a mild slowdown, expanding at a lower rate compared to October. EU and US data ahead EUR/USD traders would be eying the release of Retail Sales in Europe, and speeches by ECB policymakers, led by the Vice-President Luis de Guindos. In the US, the schedule will feature November’s Challenger Job Cuts and Initial Jobless Claims for the week ending November 29. 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 US Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD -0.61% -0.84% -0.57% -0.19% -0.83% -0.79% -0.48% EUR…

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Filed under: News - @ December 3, 2025 10:22 pm