The euro moved mixed against almost all the G10 basket and the EUR/USD pair is moving higher ahead of the ECB President Mario Draghi’s speech. In the U.S., the jobless claims rose to a six-week high level and the USD/CAD pair struggles below 1.2790.
The euro traded mixed versus the major currencies on Thursday and early Friday while with the ECB keeping policy steady for the next months and the Fed continuing to discuss about tightening, we still believe that EUR/USD is moving lower. The day is starting with the ECB Mario Draghi’s speech at Annual Meeting in Italy and will attract significant amount of market attention. The highlight yesterday was the Eurozone’s CPI which recorded at 1.4% in October as expected below 1.5% in the prior two months. It is the smallest inflation rate in the last three months.
Read the full financial markets daily report on JFD Research.