EUR/USD gained traction in the second half of the day on Thursday and closed in positive territory.
EUR/USD holds steady above 1.0700 after closing in the green on Thursday. April jobs data from the US could trigger the next big action ahead of the weekend. The pair could face stiff resistance at 1.0750-1.0755. The pair stays in a consolidation phase above 1.0700 early Friday as investors gear up for the last high-impact data release of the week, April jobs report from the US.
How does inflation data impact the value of the Euro? Eurozone inflation data, measured by the Harmonized Index of Consumer Prices , is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control.
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