EURO REGAINS SOME LOST GROUND AGAINST DOLLAR; EURINR LINGERS IN NEGATIVE TERRAIN

Published on Jan 03, 2024 14:32

Euro is seeing some optimism after a relentless fall over the last three sessions amid dollar rally overseas. The dollar index that measures the greenback against a basket of currencies climbed to a near two-week high amid risk aversion before giving up some gains. Currently, the DXY is at 101.90. Upcoming minutes of the Fed�s December meeting and nonfarm payrolls data due this week will be closely watched. EURUSD pair is recovering from a week�s low and quoting at $1.0990, up 0.09% on the day. Yesterday, the pair shed close to 1% and gave up $1.100 levels. Meanwhile data from Eurozone showed German jobless rate stood at adjusted 3.1 percent in November, the same as in October. The number of people out of work increased 5,000 from the previous month to 1.36 million in November. At the same time, the unadjusted unemployment rate held steady at 3.0 percent compared to the same month last year. Meanwhile, EURINR January futures pair also extended slide and was trading at 91.36, down 0.38% on the day.