Meanwhile, the Euro was down against the British Pound and up against the Japanese Yen, with EUR/GBP shedding 0.01% to hit 0.8324 and EUR/JPY rising 0.04% to hit 102.06.
The EUR/USD is entering the holiday mode. The market movement is still choppy and volatile yet the direction is still mixed with the low volume and many still sidelined with the holidays starting and the last trading day before the long Christmas holiday.
We can see the market still assessing the impact of the ECB loans with the euro holding between $1.30-$1.31 areas and that is due to the lack of major events or volume to take the pair to a defined direction to resume the correction.
The market turned weak after the GDP was less than expected from the US economy on Thursday and that again keeps the weak outlook still in focus and not very tempting for a strong upside short term recovery even if needed.
The week will end with the United States as well starting with the Durable Goods Orders at 13:30 GMT which is expected with 2.1% rebound in November after 0.7% drop and excluding transportation it’s expected to rise by 0.4% after 0.7% gain.
The November Income Report is also due at 13:30 GMT with the Personal Income expected with 0.3% rise after 0.4% and personal spending expected to rise 0.3% after 0.1% as for the core PCE it is expected to hold at the previous gains with 0.1% rise on the month and 1.7% on the year.
New Home Sales for November will be released at 13:00 GMT which is expected with 2.0% rise after 1.3% gain to 313 thousand. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
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