The EUR/USD pair surged to 1.0981, its highest in almost two months, on Friday, ending the week at around 1.0950.
The Federal Reserve and the European Central Bank offered cautiously optimistic messages. Inflation takes centre stage next week as the US unveils the Consumer Price Index. EUR/USD bullish case increased after US data aligned with Fed wishes. Demand for the US Dollar remained subdued, which should have helped the pair run further, but discouraging European news limited Euro gains. By the end of the week, the shared currency stood as the weakest USD rival.
02 million, and the downward revision was welcomed by financial markets, as usually, high openings suggest strong demand for labor and tight market conditions while easing figures suggest it’s loosening, something the Fed requires to trim rates. Additionally, the ADP survey on private job creation showed that 140K new positions were added in February. The figure missed the 150K expected, but it was not bad enough to become a concern.
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