The EUR/USD pair moved sideways after the Federal Reserve and the European Central Bank (ECB).
and the European Central Bank . The pair was trading at 1.1020, where it has been in the past few days. It has jumped by over 4% from the lowest point in March.The EUR/USD pair has been in a tight range after the Federal Reserve and the ECB decided to hike interest rates by 0.25%. In its statement, the Fed hiked by 0.25%, bringing rates to 5.25% while the ECB brought rates to 3.25%.
On a positive sign, data released on Friday showed that the American economy created thousands of jobs in April. The economy added over 253k jobs in April while the unemployment rate dropped to 3.4%, the lowest level since 1969. Wages continued rising even as the economy continued slowing down. Europe’s inflation has remained at an elevated level in the past few months. Core inflation, which excludes the volatile food and energy prices, rose to 5.6% in April. That figure is much higher than the ECB target of 2.0%.EUR/USD technical analysis
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