Open Demo Account
Home / Market Update / Forex Market / EUR/USD retreats from weekly highs amid falling EU’s bond yields

EUR/USD retreats from weekly highs amid falling EU’s bond yields

Mohamed Abdelhamid 9 June, 2023 7:41 pm Forex Market, Market Update

The Euro is weakened amid falling bond yields; but the shared currency remains supported by monetary policy divergence.

ECB is expected to tighten monetary conditions despite the Eurozone recession. Upcoming US CPI data could set the stage for a surprise at the FOMC meeting. The EUR/USD pair reversed its course after Thursday’s jobs report in justified Fed’s view for skipping a rate hike.

Additionally, recent data from Canada pointed to a softening labor market, atoning with recent unemployment claims in the US. The EUR/USD is trading at 1.0753, down 0.26%.

Tags

Check Also

Dollar Slips as Hormuz Clashes Meet Peace Hopes: Markets on Edge Ahead of Pivotal U.S. Jobs Report

Key Takeaways Dollar softens: The U.S. Dollar Index slipped 0.1% in European trading at 08:49 …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends