The EUR/USD pair closed at 1.17759 after placing a high of 1.17799 and a low of 1.17124. EUR/USD extended its gains on Thursday amid a decline in the greenback’s value and the U.S. treasury yields. The U.S. Dollar was weak across the board on Thursday due to the rising number of jobless claims during last week and U.S. President Joe Biden’s recent infrastructure plan. The U.S. Dollar Index dropped below 93 level on Thursday that dragged the yields on the U.S. Treasury 10-year note from its week’s high level of 1.77% to 1.68%.

On the data front, at 11:00 GMT, the German Retail Sales dropped to 1.2% against the forecast 2.0% and weighed on Euro, and capped further upside in EUR/USD. At 12:15 GMT, the Spanish Manufacturing PMI rose to 56.9 against the forecast 56.0 and supported Euro and added further gains. At 12:45 GMT, the Italian Manufacturing PMI remained flat at 59.8. At 12:50 GMT, the French Final Manufacturing PMI surged to 59.3 against the forecast 58.8 and supported the single currency Euro and added to the upward momentum in the pair. At 12:55 GMT, the German Final Manufacturing PMI remained flat with the expectations of 66.6. At 13:00 GMT, the Final Manufacturing PMI from the whole bloc also remained flat at 62.5.

At 16:30 GMT, Challenger Jobs Cuts for March came in as -86.2% from the U.S. front. At 17:30 GMT, the Unemployment Claims from last week surged to 719K against the predicted 678K and weighed on the U.S. dollar that added further strength in the EUR/USD pair. At 18:45 GMT, the Final Manufacturing PMI remained flat at 59.1. At 19:00 GMT, ISM Manufacturing PMI surged to 64.7 against the projected 61.5 and supported the U.S. dollar that capped further gains. The Construction Spending declined to -0.8% against the estimated -0.9%. The ISM Manufacturing Prices rose to 85.6 against the estimated 83.5, supported the U.S. dollar, and limited the pair’s upside momentum.

The currency pair continued to post gains on Thursday despite the World Health Organization’s negative comments that criticized the rollout of coronavirus vaccines in Europe. WHO called the vaccine rollout in Europe unacceptably slow and said that the region’s situation was more worrying than it has been for several months. On the other hand, the U.S. top infectious disease doctor Anthony Fauci said that even if AstraZeneca’s coronavirus wins U.S. regulatory approval, the United States might not need it. Fauci added that the United States has abundant contracts with other vaccine manufacturer companies that would be enough to vaccinate its entire population and possibly sufficient for booster shots in the fall.