EUR/USD Retraces as Dollar Gains Ahead of Critical Economic Data
The EUR/USD currency pair is currently correcting below the 1.1000 mark during Fridayโs trading session. This comes after achieving a six-month high of 1.1145 recently. The retracement in this major currency pair is attributed to a rebound in the US Dollar, following a sell-off prompted by President Trump’s tariffs.
Market participants are awaiting key data such as the Nonfarm Payrolls for March and a speech by Federal Reserve Chair Jerome Powell. These upcoming events are likely to influence market sentiment and could further impact the trajectory of EUR/USD.