Dollar Tumbles on ADP Miss and Shutdown Risk; EURUSD Soars as ECB Holds
Dollar fell to near a one-week low after weak ADP jobs and U.S. government shutdown risk boosted Fed cut bets, while euro rose as euro-zone inflation reinforces ECB’s hold.
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Dollar fell to near a one-week low after weak ADP jobs and U.S. government shutdown risk boosted Fed cut bets, while euro rose as euro-zone inflation reinforces ECB’s hold.
S&P 500 down 0.40%, Dow down 0.09%; EURUSD up 0.16% indicating a modest euro uptick.
EURUSD steadied around 1.1732 as markets price Fed easing; euro showed little reaction to France Fitch downgrade while ECB remained steady. Fed cuts expected to weaken USD, supporting euro amid risk-…
French political turmoil and a possible Fitch downgrade pressure the euro, while rising US yields and Fed-cut bets create mixed FX drivers for EURUSD in the near term.
The U.S. dollar slipped after BLS revised payrolls down by 911,000 jobs for Apr 2024–Mar 2025, signaling a weaker labor market and prompting FX moves, notably in USDJPY and the DXY.
Euro rises to a six-week high as markets price in Fed rate cuts; France political turmoil has limited market impact while weak U.S. data boosts risk assets.
EURUSD ticked up 0.02%, a negligible intraday move likely reflecting thin trading and no fresh catalysts.