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EUR/USD slides toward 1.1600 as US data beat expectations

EUR/USD slides toward 1.1600 as US data beat expectations

101 finance101 finance2026/01/15 15:06
By:101 finance

The Euro (EUR) weakens further against the US Dollar (USD) on Thursday as the Greenback extends its advance following the release of weekly US labor-market data. At the time of, EUR/USD

Data released by the US Department of Labor showed that Weekly Initial Jobless Claims fell to 198,000 in the week ended January 10, undershooting market expectations of 215,000. The previous week’s figure was revised lower to 207,000 from 208,000.

Meanwhile, the four-week moving average of Initial Claims fell to 205,000 from a downwardly revised 211,500.

Regional manufacturing data also improved, with the Empire State index rising into positive territory at 7.7 from -3.7, while the Philadelphia Fed survey climbed to 12.6 from -8.8.

In reaction, the US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major currencies, climbed to more than one-month highs near 99.35, its strongest level since December 3.

Chicago Fed President Austan Goolsbee welcomed the data, saying he was “not surprised” by the low jobless claims reading and noting that there is still strength in jobs and that overall growth remains “good.” He added that the latest figures point to continued stability in the labor market.

On monetary policy, Goolsbee said he still expects the Federal Reserve (Fed) to cut interest rates this year, but stressed that policymakers need incoming data to affirm that outlook. He added that rates “can still go down a fair amount,” but only if there is firm evidence that inflation is retreating. Goolsbee also reiterated that the most important challenge facing the Fed remains getting inflation back to the 2% target.

Separately, Atlanta Fed President Raphael Bostic struck a more cautious tone, saying the central bank needs to keep policy restrictive because inflation remains too high. Bostic added that he expects inflation pressures to persist through 2026, while projecting economic growth to remain resilient, with GDP growth seen running north of 2% in 2026.

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