The EUR/USD pair slid throughout the first half of the day, reaching fresh weekly lows in the 1.0530 region ahead of first-tier events. The US Dollar
EUR/USD Current Price: 1.0548 The European Central Bank left the main rates unchanged, as expected. The United States Q3 Gross Domestic Product beat expectations by printing 4.9%. EUR/USD keeps pressuring weekly highs, with lower lows still in sight. gained on the back of poor earnings reports weighing on high-yielding stocks.
The US Dollar ticked higher with the news, as at the same time, the country published Initial Jobless Claims for the week ended October 20, up to 210K and still signaling a tight labor market. However, the upbeat figures also boost the sentiment, limiting USD gains and as stock markets resume their advances. EUR/USD short-term technical outlook The EUR/USD pair bounced from a fresh intraday low of 1.0521 ahead of Wall Street's opening and as ECB's President Christine Lagarde speaks.
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