The post Euro dips as US jobs data boosts the Dollar despite Fed-cut buzz appeared on BitcoinEthereumNews.com.

Euro retreats somewhat on Thursday as traders digest the last round of US jobs data as they also brace for the release of the Federal Reserve’s preferred inflation gauge, the Core Personal Consumption Expenditures (PCE) Price Index. At the time of writing, the EUR/USD trades at 1.1649, down 0.19%. EUR/USD poised for further upside on possible Fed rate cut The financial markets narrative hasn’t changed, as investors are waiting for December 10, the Fed’s D day. Economic data in the US was a tailwind for the Dollar, as Initial Jobless Claims for the week ending November 29 dipped sharply, an indication that the labor market is still firm. Contrarily, the Challenger Jobs Cut data reported that employers cut over 70,000 jobs in November, its highest level for that month since 2022. Given the fundamental backdrop, traders priced in an 85% chance for a Fed rate cut next week. Nevertheless, this could change if the release of the Fed’s favorite inflation gauge, the Core Personal Consumption Expenditures (PCE) Price Index for September, surpasses the 3% threshold on Friday. For the Euro, the main supporter is the European Central Bank (ECB) which set interest rates at around 2%, hinted that the easing cycle was over and Lagarde’s remarks on Wednesday, when she said, “inflation to stay near 2% in months ahead.” Data-wise Retail Sales in the Eurozone exceeded estimates in October, and Construction PMI readings for the EZ, Germany, France and Italy, improved, despite remaining in contractionary territory. Daily market movers: Euro boosted by Lagarde’s comments, weak Dollar The Dollar is poised to weaken further, yet as of writing, the US Dollar Index (DXY), which tracks the buck’s performance against six major currencies, gains 0.19% up at 99.05. Initial Jobless Claims for the week ending November 29 were 191K, lower than the…

---

Filed under: News - @ December 4, 2025 11:27 pm