The EUR/USD pair posted a weekly high of 1.0629 on Friday but finished the week unchanged around the 1.0570 mark.
The November US NFP report was mostly upbeat, not enough to boost the USD. The European Central Bank is expected to trim interest rates by 25 basis points. EUR/USD struggles for direction, sellers aim to recover control. The Greenback fell following the release of the United States Nonfarm Payrolls report but quickly trimmed losses, pushing the pair back below the 1.0600 mark.
Lagarde said that the economic growth in the EU will be weaker in the near term, adding the recovery should start to gather “some steam.” She added inflation is expected to temporarily increase in the last quarter of the year and decline to target in the course of the next one. The ECB will announce its last monetary policy decision of the year on December 12 and is widely anticipated to trim interest rates by 25 basis points . Political turmoil in France also took its toll on the Euro.
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