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EUR/USD advances to near 1.0750 as risk appetite regains balance

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EURUSD News

Majors,Macroeconomics,Eurozone

EUR/USD extends its winning streak for the third successful day on Friday, trading around 1.0730 during the Asian session on Friday.

EUR/USD advances due to positive market sentiment ahead of US Nonfarm Payrolls on Friday. The weekly US Initial Jobless Claims remained at the lowest level in two months, prompting the Fed to delay rate cuts. ECB Chief Economist Philip Lane emphasized that the central bank will continue to adopt a data-dependent approach. The risk-sensitive currencies like the Euro gain ground as risk appetite regains balance ahead of US Nonfarm Payrolls .

5% rise in the previous quarter, but falling short of the expected increase of 0.8%. This marks the slowest pace of productivity growth since the January-March quarter in 2023. In the Eurozone, European Central Bank Chief Economist Philip Lane said in a virtual guest lecture at the University of Stanford that while inflation has decreased more rapidly than initially anticipated by the ECB, the transmission of policy effects lags.

 

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