Page 5 - Factory Orders News Today

Here is what you need to know on Friday, February 2: The US Dollar (USD) came under heavy selling pressure and the USD Index declined nearly 0.5% amid falling US bond yields in the American session on Thursday.

Today, were tracking the jobs report and consumer sentiment as well as looking ahead to next week.

Bankinter: Industrial Production in November was worse than expected: -4.8% year-on-year versus -4.0% expected and -3.4% previously (revised from -3.5%). In

EUR/USD managed to erase its daily losses after dipping below 1.0900 on Friday but closed the first week of 2024 in negative territory.

The EUR/USD pair trades uneventfully around its daily opening, trading in the 1.0940 price zone ahead of Wall Street’s opening.

The gold price is trading in the green at $2,026 at press time. Still, the downside pressure remains high despite Friday's rally.

Germany's factory orders rose less than expected in November, data from Destatis revealed on Monday. Orders climbed 0.3 percent on a monthly basis in November, in contrast to the revised 3.

The Euro (EUR) advances against the US Dollar (USD) in early trading on Monday as the Greenback (USD) weakens, with no fundamental reason, except for traders increasing the odds for the first rate cut of the Federal Reserve by its March meeting.

EconoTimes is a fast growing non-partisan source of news and intelligence on global economy and financial markets, providing timely, relevant, and critical insights for market professionals and those who want to make informed investment decisions.

The EUR/USD price lost its shine again on Friday as the US NFP data looms. The pair is at 1.0913 at the time of writing.