The recent bullish sentiment in the Euro has been bolstered by data released Thursday showing business activity in the Euro Zone was close to a six-year high. The Markit Euro Area Composite PMI stood at 56.8 in April compared to the 56.7 reported back in March, marking the best reading since April of 2011.
Manufacturing and services both rose at a faster pace, indicating a strong start to the second quarter.
Meanwhile, the greenback remained under pressure despite US jobless claims falling to multi-decade lows, while March factory orders came in slightly weaker than expected.
Markets focus will now shift the focus to the official April US jobs report scheduled for release later in the session ahead of the second-round of French presidential voting, set for Sunday.
EURUSD is lower after reaching 1.09897 on Friday, the pair’s highest point since November 9th.
Euro Soars Against Dollar
Daily Analysis - 05/05/2017