Ella 
At the beginning of this week, the EURUSD fluctuated around 1.0789, reflecting the increasing uncertainty in the global economy and the strong preference for safe-haven assets. The dollar’s appeal was bolstered by a rise in U.S. government bond yields and a positive reading from the University of Michigan’s Consumer Confidence Index, which showed a better-than-expected rise to 70.5 points in October.
The greenback’s preference as a safe-haven currency was evident during Japan’s election over the weekend, underscoring the currency’s reliability in times of political and economic uncertainty.
Looking ahead to the week ahead, the EUR/USD pair faces a crucial week ahead with the release of U.S. labor market data for October. The data are crucial because they could influence the Fed’s cautious stance on interest rate changes. Current market expectations favor two rate cuts of 25 basis points each before the end of the year. However, upcoming employment data has the potential to recalibrate these expectations, impacting the trend in EURUSD.
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