- EUR/USD slips as the US Dollar steadies on mixed US labor data and weak Eurozone Retail Sales.
- US private payrolls increased by 54K in August, below the 65K forecast and sharply lower than July’s revised 106K.
- Focus now on US services sector data, with S&P Global PMIs expected to hold steady at 55.4 and ISM Services PMI projected at 51.0.
The Euro (EUR) is under pressure against the US Dollar (USD) on Thursday, with EUR/USD retracing part of Wednesday’s advance and trading near 1.1645 at the start of the American session. The mild pullback comes as the Greenback regained traction following a mixed set of US labor market data, while softer Eurozone Retail Sales added to pressure on the Euro.
The ADP Employment report showed that US private payrolls increased by 54,000 in August, undershooting expectations of 65,000 and down sharply from July’s revised 106,000, pointing to slower hiring momentum. Weekly Initial Jobless Claims also ticked up to 237,000 from 229,000, suggesting a modest rise in layoffs. At the same time, Q2 Nonfarm Productivity was revised higher to 3.3% from 2.4%, while Unit Labor Costs eased to 1.0% compared with 1.6% expected, indicating that wage pressures are cooling.
The US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, is ticking higher, trading near 98.30, retracing part of Wednesday’s losses. The index remains confined within the narrow range that has defined trading since early August, suggesting investors are awaiting Friday’s Nonfarm Payrolls (NFP) report for a clearer directional cue.
In the Eurozone, July Retail Sales fell 0.5% MoM, a deeper drop than the 0.2% forecast and reversing June’s 0.6% gain. On an annual basis, sales rose 2.2%, missing the 2.4% forecast and down from the 3.5% pace recorded previously. The figures point to weaker household demand, adding to concerns about the bloc’s growth outlook even as inflation remains slightly above the European Central Bank’s (ECB) 2% target.
Looking ahead, attention turns to the US services sector, with both S&P Global and ISM Purchasing Managers Index (PMI) readings for August due later on Thursday. The S&P Global Composite and Services PMI are expected to hold steady at 55.4, signaling continued expansion. From the ISM survey, the headline Services PMI is seen improving modestly to 51.0 from 50.1, while sub-indices on Employment, New Orders, and Prices Paid will provide additional insight into service-sector momentum and inflation pressure.
Euro Price Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.12% | -0.00% | 0.21% | 0.16% | 0.28% | 0.21% | 0.20% | |
| EUR | -0.12% | -0.12% | 0.05% | 0.03% | 0.22% | 0.09% | 0.03% | |
| GBP | 0.00% | 0.12% | 0.24% | 0.15% | 0.33% | 0.21% | 0.14% | |
| JPY | -0.21% | -0.05% | -0.24% | -0.03% | 0.04% | 0.07% | 0.03% | |
| CAD | -0.16% | -0.03% | -0.15% | 0.03% | 0.10% | 0.07% | -0.00% | |
| AUD | -0.28% | -0.22% | -0.33% | -0.04% | -0.10% | -0.12% | -0.17% | |
| NZD | -0.21% | -0.09% | -0.21% | -0.07% | -0.07% | 0.12% | -0.02% | |
| CHF | -0.20% | -0.03% | -0.14% | -0.03% | 0.00% | 0.17% | 0.02% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.