EUR/USD STUCK ON FAMILIAR TECHNICAL LEVELS DURING MIDWEEK LULL

Tina Collins

06 Feb 2025 — 1 min read

EUR/USD STUCK ON FAMILIAR TECHNICAL LEVELS DURING MIDWEEK LULL

EUR/USD is struggling around the 1.0400 level on Wednesday.

The US Dollar is weaker because overall market sentiment is against it.

Key data ahead: European Retail Sales (Thursday) and US Nonfarm Payrolls (NFP) (Friday).

US ADP jobs report showed strong hiring (183K jobs added in January, better than expected).

European Retail Sales expected to rise yearly (1.9% from 1.2%), but monthly may drop (-0.1% from 0.1%).

US NFP jobs data on Friday is important, expected to slow (170K from 256K in December).

Investors are frustrated as strong US economic data delays possible interest rate cuts.

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CHINA FEBRUARY 2025 NEW HOME PRICES FALL 4.9% YoY, 0.1% MoM

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