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EUR/USD Forecast: US Data Shows Dollar Weakness, Supports Bullish EUR
EUR/USD holds a bullish bias, driven by weak US data and slower business activity in Europe, with the pair holding above key moving averages.
The EUR/USD pair has maintained a bullish bias, despite weak economic data from the Eurozone. The pair briefly flirted with 1.1800 but retreated to 1.1773. European flash PMIs for December indicated a second consecutive month of slower business activity, with the services PMI at 52.6, down from 53.1. On the other hand, US data pointed to a weak labor market recovery, with nonfarm payrolls adding only 64K jobs in November, and a rise in the unemployment rate to 4.6%.