EUR/USD looks forward to climb over 1.0950

The EUR/USD pair is experiencing a broad-market risk rally to close out the trading week, with market sentiment seeing a late break. US PMI data came in mixed, softening the US Dollar.

The EUR/USD is trading into the 1.0950 level as the trading week winds up, with markets set for an early volume drop-off with US money markets closing early for the weekend. The US Purchasing Managers’ Index (PMI) data spread on Friday, with a decline in the Manufacturing component and an uptick in the Services figures.

The US Manufacturing PMI backslid into 49.4, missing the market’s forecast of 49.8, and slipping back into contraction territory in November after October’s flat reading of 50.0.

The Services component expanded, printing at 50.8 versus the forecast decline from 50.6 to 50.4, helping to offset the decline in Manufacturing and keeping the Composite PMI figure on-balance at 50.7, matching October’s print.

Market participants will focus on next week’s heftier data releases, with US Gross Domestic Product (GDP) and Eurozone Harmonized Index of Consumer Price (HICP) inflation figures due in the mid-week.