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Euro holds just below $1.16; EUR/INR futures hover near 104 mark

(28-Nov-25   13:37)

EUR/USD is paring recent streak of gains and incurring mild losses after having gained near a one and half week high earlier this week. Weakness is dollar index amid growing expectations of a December Federal Reserve rate cut is supporting the single common currency. Weak US labor signals, sticky inflation and a soft 0.2% rise in September retail sales have strengthened the case for policy easing, with consumer confidence also falling to its lowest level since April. The pair is currently quoting under $1.16 mark at $1.1591, down 0.13% on the day. On the Euro zone docket, Germany's retail sales dropped 0.3% month-over-month in October 2025, missing market forecasts of a 0.2% growth and reversing a marginally revised 0.3% gain in the previous month. On an annual basis, retail sales rose 0.9% in October, sharply exceeding market expectations of a 0.2% increase and an increase of 0.8% in September, according to official data released by Destatis on Friday. Meanwhile, the European Central Bank (ECB) sees interest rates as appropriately placed for now but has left room for potential cuts in 2026, according to minutes of its October meeting released yesterday, On the NSE, EUR/INR futures are trading higher by 0.15% at 103.92.

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