EUR/USD climbs to daily highs near 1.0380, focus remains on data, Powell – by pabspiovano EURUSD Currencies Majors
The dollar looks offered ahead of data, Fed’s Powell.The single currency regains some balance and liftsAfter three daily pullbacks in a row, EUR/USD prints decent gains and looks to reclaim the 1.0400 neighbourhood on the back of fresh weakness hurting the greenback.
An interesting calendar in the euro area saw Germany’s Unemployment Change rise by 17K people and the jobless rate tick higher to 5.6%, both prints for the month of November. Additionally, flash figures now see the headline CPI in the broader euro area rise at an annualized 10.0% in November and 5.0% when it comes to the Core CPI., Inflation and the Labor Market” and FOMC Governor L.Cook will also speak on “The Outlook for Monetary Policy and Observations on the Evolving Economy”.
Back to the euro area, the increasing speculation of a potential recession in the bloc emerges as an important domestic headwind facing the euro in the short-term horizon.: Germany Unemployment Rate, Unemployment Change, EMU Flash Inflation Rate - Germany Retail Sales, ECB General Council Meeting, Germany/EMU Final Manufacturing PMI, EMU Unemployment Rate - ECB: Continuation of the ECB hiking cycle vs. increasing recession risks.
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