Labor Market Strength Stabilizes Dollar Against Euro

The EUR/USD pair remained confined to a narrow 1.1620–1.1650 range as stable interest rates and consistent Eurozone inflation data failed to drive significant movement. While Eurozone core inflation slightly exceeded expectations due to rising services costs, the Dollar found underlying support from strong US JOLTS data, which indicates a resilient labor market that is potentially tightening again. This combination of robust American macro performance and positive earnings reports has challenged recent bearish outlooks on US assets, keeping the currency pair steady despite the upcoming June policy decisions.

MIB opened down 0.6% at 50,285.74, the Mid-Cap fell 0.8% to 62,037.16, the Small-Cap lost 0.5% to 35,881.53, and Italy Growth slipped 0.4% to 9,210.45. Other European exchanges were also in the red: the CAC 40 fell 0.5%, the DAX 40 dropped 0.8%, and the FTSE 100 declined 0.4%.