Euro Holds Steady Ahead of US Jobs Data and ECB Meeting

The euro has stabilized at just above $1.16 on Friday as investors await fresh direction from US employment data due later in the day.

This comes amidst shifting attention towards the European Central Bank's September 10 meeting, where markets continue to fully price in a 25-basis-point rate hike to 2.5% next week.

The probability of the deposit rate reaching 3% by June 2027 is almost 100%, implying two further rate increases by mid-2027.