EURUSD

The pair has focused entirely on US macroeconomic data and the trend of the Dollar Index due to the lack of significant data flow in Europe. The JOLTS data to be released today will be decisive for short-term direction for the pair, which showed some recovery following the weak US manufacturing data released yesterday. A weak data indicating a cooling in the labor market could strengthen the perception that the Fed is closer to interest rate cuts, supporting upward movements in the pair. In a contrary scenario, strong data could support the Dollar, potentially creating renewed selling pressure on the pair.