The Euro US Dollar (EUR/USD) exchange rate is trading flat on Friday at US$1.1850. The pair is on track to end the week at the same level that it started the week.
The Euro is showing resilience despite growing concerns over rising covid cases on the old continent. The WHO warned of a very serious situation arising in Europe. Analyst fear that a second wave could derail the economic recovery.
US Dollar is trending broadly lower after a slew of weak data on Thursday. Initial jobless claims remain elevated at 860,000, versus 580,000 forecast. Attention will now turn to consumer confidence.