EUR/USD faces a significant decline, erasing recent gains.
The major currency pair remains at local lows on Friday, with the current EUR/USD quote at 1.1140.
The US dollar's stability and strength are driven by expectations of the Federal Reserve's decision to halt its aggressive monetary policy. The latest jobless claims statistics confirmed the resilience of the US employment sector, increasing the likelihood of maintaining high interest rates for an extended period. However, market participants currently seem to overlook this aspect.
Today's macroeconomic calendar is relatively sparse.
Investors are closely watching the economic forecast from the European Commission. Nevertheless, significant market actions may be held back as the upcoming week includes crucial meetings with the Federal Reserve, the European Central Bank (ECB), and other regulatory bodies.