EUR/USD Weekly Forecast: US Dollar Strengthens Amid Employment Data

Tina Collins

Oct 7, 2024

September Nonfarm Payrolls exceeded market expectations.

Ongoing fragility in the European economy raises recession risks.

The pair fell below 1.1000, reaching 1.0958 on Friday.

The US Dollar advanced due to reduced expectations for aggressive Fed rate cuts following positive macro data.

Concerns over oil supply disruptions affected stock market momentum, resulting in mixed performance in US equity indexes.

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Global Chip Stocks Decline After ASML’s Disappointing Outlook

Global chip stocks fell on Wednesday following ASML's disappointing sales forecasts. ASML shares dropped 5% in early European trading, adding to a 16% decline the previous day. ASML lost approximately 49.2 billion euros ($53.6 billion) in market capitalization in just one day.

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Gold Price Forecast: XAU/USD Holds Gains Around $2,660

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Dollar Strength Pressures Gold Prices Below $2,650 per Ounce

Global Chip Stocks Decline After ASML’s Disappointing Outlook

Gold Prices Rise Towards New Record High Amid Geopolitical Tensions

Gold Price Forecast: XAU/USD Holds Gains Around $2,660