EURUSD Outlook EUR/USD is likely to remain defensive in the near term as markets await clarity from US labor and inflation data, as well as the ECB’s policy stance. While the USD’s rebound has slowed euro gains, expectations of future Fed rate cuts may continue to limit downside pressure. With multiple high-impact events on the horizon, volatility is expected to pick up, and traders should prepare for sharp intraday swings as fresh data reshapes the macro narrative.