EUR/USD shows resilience, turning upward after a losing session. The spot price trades higher around 1.0540 during the Asian session on Friday. Despit
EUR/USD shows resilience after a losing session on upbeat US data. Headline inflation exceeded expectations; jobless claims recorded a lower figure than anticipated. The slew of positive US data has reignited sentiment of another interest rate hike by the Fed. ECB’s cautious stance on interest rates trajectory could undermine the Euro.
On the Eurozone side, the cautious approach is influenced by concerns about a slowing economy, with worries that it could potentially dip into a recession. As a result, it suggests that further rate hikes by the European Central Bank may not be on the table for the time being, and this cautious stance could undermine the EUR/USD pair. Investors are expected to watch the US Michigan Consumer Sentiment Index scheduled for release on Friday.
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