The EUR/USD pair trades in a tight range just above the 1.0500 threshold on Thursday, as market players maintain a cautious stance ahead of United St
EUR/USD Current Price: 1.0502 Financial markets fear the Federal Reserve will deliver additional monetary tightening. United States employment-related data come in better than anticipated. EUR/USD losing momentum around 1.0500 as USD bulls lead the way. ates employment-related clues. Hawkish comments from US Federal Reserve officials earlier in the week dampened the mood as their words hinted at a possible rate hike in the November meeting, given stubbornly high inflation.
Also, the country published Initial Jobless Claims or the week ended September 29, printing at 207K and September Challenger Job Cuts, with US-based employers announcing 47,457 cuts in the month, down 37% from the 75,151 cuts announced in August, but up 58% from the 29,989 announced in September 2022. EUR/USD short-term technical outlook The daily chart for the EUR/USD pair shows it stands at the upper end of Wednesday’s range but without enough strength to extend its latest recovery.
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