EURUSD

The short-term direction of the EURUSD pair will be shaped by the US employment and consumer spending data to be released today. A strong employment report and robust retail sales that exceed expectations could reinforce the expectation that the Federal Reserve will maintain a tight stance in its monetary policy, thereby supporting the US Dollar globally. This scenario has the potential to create downward pressure on the pair. Conversely, data indicating a slowdown in economic activity could lead to a weakening of the Dollar, triggering upward movements in the EURUSD pair.