EURUSD SET FOR WEEKLY GAIN; EUROZONE JOBLESS RATE TICKS HIGHER TO 6.5%

Published on Nov 03, 2023 15:40

The euro is steadying around $1.066 levels on Friday as dollar stayed bearish amid expectations that Fed is done with rate hiking cycle. Falling treasury yields with the benchmark 10 year US yield at 4.6% is seen dragging down the dollar index that was quoting at 105.92. The US central bank held its policy rate steady on Wednesday, but left the door open to a further rate increase amid persistently high inflation and economic resilience. Investors now keenly await October non farms payroll data for further cues. EURUSD is currently seen quoting at $1.0664, up 0.18% on the day. The pair is set for a weekly gains of over 0.6%. Data from Eurozone showed the seasonally-adjusted unemployment rate was 6.5%, up from 6.4% in August and down from 6.7% in September 2022. On the NSE, EURINR futures edged higher to 88.74, up marginally on the day.