Euro hovers near 2-week lows after Draghi announcements, U.S. data

Euro hovers near 2-week lows after Draghi announcements, U.S. data

4 September 2015, 08:47
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On Friday the euro was slightly higher, although near 2-week lows pressured by Mario Draghi comments a day before. Meanwhile, market players were awaiting upcoming U.S. data.

EUR/USD hit 1.1116 during late Asian trade, the session low; the pair was last at 1.1131, up 0.07%.

The euro was higher against the pound, with EUR/GBP adding 0.15% to 0.7303.

The shared currency came under pressure after the ECB indicated on Thursday that there was a possibility of expanding its quantitative easing program amid increased downside risks to its inflation outlook and risks from overseas.

The ECB lowered its growth and inflation forecasts, citing oil prices and slowing growth in China.

The bank kept its benchmark interest rate at a record-low 0.05%, in line with the consensus expectation.

Market players were now looking ahead to Friday's highly-anticipated jobs report for further indications on the strength of the economy and signs of a potential rate hike by the Federal Reserve this month.

Data on Thursday signaled that the number of individuals filing for initial jobless benefits in the U.S. in the week ending August 29 increased by 12,000 to 282,000 from the previous week’s total of 270,000. Economists had expected initial jobless claims to rise by 5,000 to 275,000 last week.

First-time jobless claims have held below the 300,000-level for 26 consecutive weeks, which is usually considered to be a firming labor market.

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