EUR/USD and GBP/USD Price Forecast: Analysis and Events Ahead

The Dollar Index has witnessed a minor decline, reflecting investor reactions to U.S. labor market data, including a 140K rise in ADP Non-Farm Employment Change against an anticipated 149K, and the Fed Chair’s testimony.

EUR saw a notable dip in German Factory Orders by -11.3%, much lower than the -6.0% forecast, while GBP showed resilience with a 0.4% increase in Halifax HPI m/m, although below the 0.8% expectation.