The EUR/USD has risen for the second consecutive day, approaching the 1.0550 area. The pair has been boosted by a weaker US dollar, moving away from i
US Initial Jobless Claims rise lower than expected, focus turn to Nonfarm Payrolls. The US Dollar weakens as US Treasury yields decline from multi-year highs. The EUR/USD shows potential for further gains ahead of new US jobs data. ts ten-month lows. However, the trend remains bearish, and the next direction will depend on US jobs data. Germany reported a larger-than-expected decline in exports for August and an unexpected contraction in imports . Imports are 16.
Expectations are for an increase of 170,000 jobs and a slight decrease in the Unemployment Rate to 3.7%. A strong report could trigger a resumption of the EUR/USD bearish trend, while weak numbers could expand the scope for further recovery. EUR/USD short-term technical outlook After hitting a ten-month low around 1.0450 on Tuesday, the EUR/USD started a recovery, accumulating a gain of over a hundred pips. However, this move is considered corrective for now. If there is a daily close above 1.
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