Chicago Fed President Goolsbee said on Thursday that he expects several interest rate cuts later this year, placing him among the more optimistic policymakers within the Federal Reserve. At the same time, he stressed the need for caution, warning that moving too quickly could risk overheating the economy and reigniting inflationary pressures.

Economic data releases from Germany and France are due later in the day, though market focus will primarily be on incoming figures from the United States.

The EUR/USD pair remains within a local range, holding above the previously identified potential support area at 1.1750–1.1800. A fresh catalyst is needed for a decisive directional move.