The EUR/USD is hovering near its lowest level since 3rd June 2020 as investors weighed the diverging performance of the Eurozone and the US economies.
Enter your emailThe pair will likely continue falling ahead of the latest US NFP data.Timeline: 1-2 days.is hovering near its lowest level since 3rd June 2020 as investors weighed the diverging performance of the Eurozone and the US economies.GET STARTEDRecent economic numbers shows that the American economy is bouncing back at a quicker rate than that in the Eurozone. For example, on Friday, data by the German statistics agency showed that the economy contracted in the fourth quarter.
Meanwhile, the American labor market has been stronger than that in Europe. For example, the American unemployment rate has declined to 3.9%. In Europe, the unemployment rate stands at about 7%.the EUR/USD pair has declined as investors predict that the Federal Reserve will be more aggressive than the European Central Bank.
Central bank officials are also unsure about what to expect. In a recent statement, Raphael Bostic warned that the rate hikes could be in batches of 50 basis points each. This is substantially higher than the overall estimates of a 25 basis point hikes.
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