Euro defies US economic woes as Ukraine talks lift sentiment before Thanksgiving
The euro has held steady against the US dollar despite growing economic uncertainty across the Atlantic. Recent progress in Ukraine peace talks and weak American Express data have shaped currency movements. Meanwhile, traders brace for quieter markets as Thanksgiving approaches.
The European single currency last traded at 1.1578 USD, supported by positive signals from Ukraine negotiations. While Washington and Kyiv reached agreements on key parts of a US peace plan, no banks have publicly confirmed taking positions based on these developments.
US economic concerns have deepened after consumer confidence dropped more than expected. The decline follows a 43-day partial shutdown of federal agencies and ongoing political deadlock. Despite this, the euro has shown unexpected resilience.
Analysts now predict limited volatility for the euro in the coming days. The US dollar continues to dominate forex trading, though holiday-thinned volumes may reduce sharp price swings.
The euro’s stability contrasts with US economic struggles, as traders focus on geopolitical progress and weak American Airlines data. With Thanksgiving likely to slow activity, markets are preparing for a subdued end to the week.
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