The number of initial jobless claims in the U.S. dropped to 221,000, compared to 242,000 in the previous week. Additionally, forecasts suggest that U.S. nonfarm payrolls indicate a slight recovery in employment growth.

Investors are also focusing on the ongoing global trade war after U.S. President Donald Trump exempted goods from Mexico and Canada under the USMCA from the proposed 25% tariff.

Christine Lagarde, President of the European Central Bank (ECB), stated that interest rate cuts aim to support economic stability. However, the eurozone's growth potential remains at risk due to various factors.

Source: Fxstreet