- Euro cuts losses on Thursday against the dollar.
- The greenback retreats as stocks on Wall Street point higher.
EUR / USD is rising on Friday and has just hit highs for the day at 1.1853. It is trading at 1.1845, close to the highs and with the bullish tone intact, although slowed down by the 1.1850 / 55 zone. The weakness of the dollar is the main support for the pair.
The dollar index is falling 0.15% on Friday, having failed to sustain above 93.00. The DXY aims to end the week negative despite the rebound in Treasury yields.
PMI from Europe, the US is coming.
The key data of the day in the Eurozone was the PMI of October. The manufacturing index remained in expansion territory (54.4 in the region) while the services index fell even more in contraction territory (46.2). The positive side was the strong rise in the German manufacturing PMI. The euro continued to advance against the dollar following the data at a moderate pace.
In the US, the focus is on the day after the presidential debate between Trump and Biden and its possible impact on the polls, 10 days before the presidential elections. In addition, the preliminary PMI report will be published on Friday.
Credits: Forex Street
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