EUR/USD bull trap could be in the making, eyes on US CPI – by fx_ross EURUSD CPI NFP Fed DollarIndex
low of 1.0159 and 1.0221 so far and is currently trying to hold onto 1.0200 but is pressured. The US dollar has given back some of the gains made after last week's blockbusterNevertheless, investors remained cautious as the payrolls data added to expectations of a hawkish US Federal Reserve. US rate futures have priced in a 67.5% chance of a 75-basis-point hike at the Fed's September meeting, up from about 41% before payrolls data on Friday beat market expectations.
''While the news on gas storage has been reassuring, a cold winter and the possibility that gas through Nord Stream 1 is totally shut off are among the risks that are faced by Europe in the months ahead.''''FX positioning data suggest that the market has already built up substantial short EUR positions.
The bulls have run away with it but given the bullish environment surrounding US yield and the greenback, the floodgates could open up below 1.0150.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EUR/USD stays defensive below 1.0200 as hawkish Fed bets propel DXY ahead of US inflationEUR/USD treads water after the recently downbeat performance as bears struggle to justify their strength amid a sluggish start to the key week. That s
Read more »
USD/JPY displays inventory distribution around 135.00 as investors await US CPIThe USD/JPY pair has turned sideways in the Asian session following the footprints of the US dollar index (DXY). On a broader note, the asset is displ
Read more »
2022 Alaska election guide: Q&As with candidates for U.S. House, U.S. Senate and governorWe invited Alaska's candidates for statewide office — U.S. Senate, U.S. House and governor — to give their views on key issues and to discuss their priorities, if elected, ahead of the Aug. 16 elections. Here's what they had to say.
Read more »
U.S. Bishops Blast Biden over Executive Order ‘Facilitating Abortion’The U.S. Bishops’ Conference (USCCB) has censured President Joe Biden for this week’s executive order aimed at streamlining abortion access.
Read more »
Elite Houston hospitals reach top spot on annual Best Hospitals list by U.S. News & World ReportThe rankings for the yearly study are based on patient care and safety, outcomes, reputation, nursing, and advanced technology of the hospitals.
Read more »
Voyager to Allow Cash Withdrawals for Customers With US Dollars Held in Accounts – Bitcoin NewsAfter the cash withdrawal gates are open, Voyager customers can withdraw up to $100K in cash via an automated clearing house (ACH) transfer. CryptoBankruptcy
Read more »