EUR/USD Drops Below $1.11 on U.S. Business Data


The dollar climbed to fresh highs on Wednesday, getting lift from solid U.S. jobs and business data, as the euro sank below $1.11 to an 11-1/2 year low ahead of the launch of quantitative easing by the European Central Bank.

The dollar hit its highest since September 2003 against a basket of currencies and was last up 0.6 percent at 95.958. Earlier it struck a high of 96.059.

The ADP National Employment Report showed a gain of 212,000 private-sector jobs. Economists surveyed by Reuters had forecast the ADP to show a gain of 220,000 jobs.

Recommended Content


Recommended Content

Editors’ Picks

AUD/USD gains momentum above 0.6500 ahead of Australian Retail Sales data

AUD/USD gains momentum above 0.6500 ahead of Australian Retail Sales data

AUD/USD trades in positive territory for six consecutive days around 0.6535 during the early Asian session on Monday. The upward momentum of the pair is bolstered by the hawkish stance from the Reserve Bank of Australia after the recent release of Consumer Price Index inflation data last week.

AUD/USD News

EUR/USD: Federal Reserve and Nonfarm Payrolls spell action this week

EUR/USD: Federal Reserve and Nonfarm Payrolls spell action this week

The EUR/USD pair temporarily reconquered the 1.0700 threshold last week, settling at around that round level. The US Dollar lost its appeal following discouraging United States macroeconomic data indicating tepid growth and persistent inflationary pressures.

EUR/USD News

Gold trades on a softer note below $2,350 on hotter-than-expected US inflation data

Gold trades on a softer note below $2,350 on hotter-than-expected US inflation data

Gold price trades on a softer note near $2,335 on Monday during the early Asian session. The recent US economic data showed that US inflationary pressures staying firm, which has added further to market doubts about near-term US Federal Reserve rate cuts. 

Gold News

Ethereum fees drops to lowest level since October, ETH sustains above $3,200

Ethereum fees drops to lowest level since October, ETH sustains above $3,200

Ethereum’s high transaction fees has been a sticky issue for the blockchain in the past. This led to Layer 2 chains and scaling solutions developing alternatives for users looking to transact at a lower cost. 

Read more

Week ahead: Hawkish risk as Fed and NFP on tap, Eurozone data eyed too

Week ahead: Hawkish risk as Fed and NFP on tap, Eurozone data eyed too

Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.

Read more

Majors

Cryptocurrencies

Signatures