The EUR/USD pair fell on Wednesday, testing the 1.1000 mark as the US Dollar strengthened in a risk-averse environment fueled by escalating tensions in the Middle East. ADP reported private job creation exceeding expectations in September, further supporting the greenback.
EUR/USD Current price: 1.1058 US private job creation rose by more than anticipated in September, according to ADP. The US Dollar benefits from a risk-averse environment amid Middle-East tensions. EUR/USD gains bearish traction in the near term, aims to test the 1.1000 mark. The EUR/USD pair recovered from a weekly low of 1.1045 posted on Tuesday, with market players maintaining a cautious stance amid United States macroeconomic data.
Meanwhile, the USD benefited from a risk-averse environment amid geopolitical tensions in the Middle East. Cross-attacks between Israel and Lebanon escalated over the weekend and continue to affect financial markets. Oil prices jumped, pushing investors away from high-yielding assets and favoring USD gains in the near term. EUR/USD short-term technical outlook From a technical point of view, the EUR/USD pair is bearish, trading at the lower end of Tuesday’s range.
EUR/USD USD Forex ADP Jobs Report Middle East Tensions
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