• EUR/USD attracts some dip-buying on Friday amid the dovish Fed-inspired USD slide.
• The Euro bulls seem unaffected by rising bets for more interest rate cuts by the ECB.
• Investors now look to Fed Chair Jerome Powell’s speech for some meaningful impetus.

The EUR/USD pair regains positive traction on the last day of the week and for now, seems to have stalled its pullback from the vicinity of over a one-year high touched on Wednesday. Spot prices currently trade around the 1.1125 region and draw support from the emergence of fresh selling around the US Dollar (USD).

Data published on Wednesday showed that US job growth over the past year to March was significantly weaker than initially estimated. Adding to this, a rise in the US Weekly Initial Jobless Claims further pointed to a cooling labor market, which, along with a slump in the US Manufacturing PMI, suggested that the economy is at risk of a slowdown. This, in turn, reaffirms market bets for an imminent start of the Federal Reserve's (Fed) rate-cutting cycle in September and fails to assist the USD in capitalizing on the overnight goodish rebound from the YTD low. This, to a larger extent, overshadows Thursday's mixed Eurozone PMI prints and turns out to be a key factor offering some support to the EUR/USD pair.