Fundamental OverviewLast Thursday, the USD weakened across the board following the weak US jobless claims figures where initial claims spiked to the highest level since August 2023. Now, jobless claims are notoriously volatile, so that could have been just a blip, but the weak consumer sentiment report on Friday could be another supporting signal for economic weakness ahead, although the data might have been skewed more by inflation worries. Overall, in the short-term it wasn’t a real gamechanger and the next trend will likely be set by the US CPI report due on Wednesday where hot data should send the pair lower while soft figures could trigger a rally into the 1.10 handle. EURUSD Technical
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