EUR/USD Current Price: 1.0659 The lack of US Federal Reserve clues took its toll on the US Dollar. Tepid Euro Zone data was not enough to interrupt the Euro’s recovery. EUR/USD turned bullish in the near term, sellers await around 1.0700. 0650 price zone ahead of the United States opening. The US Dollar lost ground after the US Federal Reserve decided to keep rates on hold for a second consecutive meeting while giving no clear hints about what’s next on monetary policy.
Additionally, the country released Initial Jobless Claims for the week ended October 27, up by 217K, worse than anticipated. The preliminary estimate of the Q3 Nonfarm Productivity posted 4.7%, beating expectations of a 4.2% advance, while Unit Labor Costs in the same period unexpectedly contracted by 0.8%. The country will later publish September Factory Orders, foreseen at 2.3% from 1.2% in the previous month.
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Source: FXStreetNews - 🏆 14. / 72 Read more »