Euro is gaining ground versus the US Dollar.

At the close of the week, the Euro (EUR) regains some balance versus the US Dollar (USD), encouraging EURUSD to return the level slightly beyond 1.0900.

On the other hand, the Greenback surrenders part of its recent two-day recovery and falls to the 103.40 level when measured by the USD Index (DXY) against the backdrop of a broad-based lack of direction in US yields across several periods.

European markets extended their weekly gains.

The current monetary policy stance remains stable, while investors consider the potential of a rate hike. In the spring of 2024, both the Federal Reserve (Fed) and the European Central Bank (ECB) are expected to lower interest rates.

Domestically, lectures by ECB officials Andrea Enria, Frank Elderson, and President Christine Lagarde are scheduled.

In the United States, the ISM Manufacturing Index leads the way, followed by Construction Spending and the final S&P Global Manufacturing PMI for November.

Market movers for the day: Euro battles to reclaim 1.0900

The EUR appears to be somewhat bid against the USD.

So far, US and German yields have traded on a mixed note.

Investors anticipate that the Fed will begin decreasing interest rates in the spring of 2024.

Markets anticipate a protracted ECB deadlock till Q2 2024.

In China, the Caixin Manufacturing PMI surpassed 50. November.

Later in the session, Lagarde will speak.

Powell will take part in a roundtable discussion.