EUR/USD hits nine-week highs as soft US jobs data pressures US Dollar
- EUR/USD climbs to its highest level since October 3, as the US Dollar weakens after softer Jobless Claims data.
- US Initial Jobless Claims rise to 236K, exceeding expectations and reinforcing signs of a cooling labour market.
- The Fed’s latest interest rate cut and cautious monetary policy stance leave the Greenback vulnerable across the board.
The Euro (EUR) extends its advance against the US Dollar (USD) on Thursday as the Greenback slides to multi-week lows following the latest US Initial Jobless Claims release. At the time of writing, EUR/USD is trading around 1.1748, its highest level since October 3.
US data published earlier showed that Initial Jobless Claims rose to 236,000 in the week ending December 6, overshooting forecasts of 220,000 and sharply above the prior week’s revised 192,000. The 4-week moving average also edged higher to 216,750, while Continuing Jobless Claims eased to 1.838 million for the week ending November 29.
The latest claims data added to signs of labour-market cooling, aligning with the Federal Reserve’s assessment in its monetary policy announcement on Wednesday. Policymakers highlighted rising downside risks to employment, a key factor behind their decision to deliver another 25 basis point (bps) interest rate cut.
The US Dollar Index (DXY) remains under sustained pressure, slipping toward 98.25, its lowest level since October 17. Softer labour data combined with the Fed’s cautious policy stance is weighing on broader Dollar sentiment, allowing EUR/USD to extend gains for a second consecutive day.
US Dollar Price Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.46% | -0.27% | -0.40% | -0.16% | 0.18% | -0.01% | -0.75% | |
| EUR | 0.46% | 0.19% | 0.04% | 0.30% | 0.65% | 0.46% | -0.29% | |
| GBP | 0.27% | -0.19% | -0.15% | 0.11% | 0.45% | 0.24% | -0.48% | |
| JPY | 0.40% | -0.04% | 0.15% | 0.25% | 0.61% | 0.39% | -0.33% | |
| CAD | 0.16% | -0.30% | -0.11% | -0.25% | 0.35% | 0.15% | -0.59% | |
| AUD | -0.18% | -0.65% | -0.45% | -0.61% | -0.35% | -0.19% | -0.93% | |
| NZD | 0.00% | -0.46% | -0.24% | -0.39% | -0.15% | 0.19% | -0.74% | |
| CHF | 0.75% | 0.29% | 0.48% | 0.33% | 0.59% | 0.93% | 0.74% |
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 US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
Author
Vishal Chaturvedi
FXStreet
I am a macro-focused research analyst with over four years of experience covering forex and commodities market. I enjoy breaking down complex economic trends and turning them into clear, actionable insights that help traders stay ahead of the curve.
