EUR/USD clings to 1.1050 on pre-ECB caution, US inflation, Ukraine eyed as well By anilpanchal7 EURUSD ECB Inflation Ukraine RiskAppetite
ECB have a tough time rejecting stagflation fears amid firmer oil prices, no change in monetary policy expected.Yields, stock futures wobble on Ukraine’s retreat ahead of today’s talks in Turkey.
The major currency pair printed the biggest daily gain since 2016 the previous day on escalating hopes of a Ukraine-Russia peace agreement. However, mixed headlines and the market’s anxiety ahead of the key data/events, includingUkraine’s readiness to compromise, if Russia does the same, joined Kyiv’s retreat from the NATO plans and a start of the human corridor to underpin the EUR/USD pair’s run-up on Wednesday.
Amid these plays, US Treasury yields fail to extend the previous day’s gains and the S&P 500 Futures also struggle to track Wall Street’s strong up-move. However, the prints mild profits as firmer US inflation expectations keep the buyers hopeful at the latest. That said, the inflation gauge, as per the 10-year breakeven inflation rate per the St. Louis Federal Reserve data, refreshed record top to 2.9% before stepping back to 2.84% by the end of Wednesday’s North American trading session.
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