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Currency News

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(03 Jul 2025, 13:07)

Euro consolidates ahead of key data releases

Euro consolidated after hitting four-year high against the US dollar today as market waited for key data for both the currencies. US dollar has been under extreme stress recently. The US central bank could start rate cuts this month after Fed Chair Jerome Powell, asked if July was too soon to consider rate cuts, said he can't say it but that the decision would depend on the economic data. EUR/USD pair moved near 1.1900 mark following this but seems to be stabilizing now. EUR/USD currently quotes at 1.1860, up marginally on the day. On the NSE, EUR/INR futures are trading at 101.03, almost unchanged on the day. Meanwhile, final composite Purchasing Managers' survey from the euro area is due today and US will release all important nonfarm payrolls data for June later on in the evening.
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