EUR/USD eases below 1.0000 as traders await Fed’s preferred inflation, Jackson Hole speeches – by anilpanchal7 EURUSD ECB Fed Inflation Recession
and the cautious mood ahead of Fed Chairman Jerome Powell’s speech at the Jackson Hole Symposium, not to forget the key US PCE inflation data.
Reuters quoted anonymous sources late Thursday to signal that the ECB reinvestments could continue with the rate hikes, which in turn challenges the EUR/USD hawks amid fears of more inflation in the bloc. Also exerting downside pressure on the quote could be the headlines surrounding China, Taiwan and Iran.
The US suspends 26 Chinese carrier flights in response to China's action, per Reuters, which in turn renews the Sino-American tension and underpins the US dollar’s safe-haven demand. On the same line could be Taiwan’s increased military budget and a jump in the number of US diplomats visiting Taipei.
It should be noted that the mixed prints of Germany’s IFO numbers and an upward revision to the nation’s Gross Domestic Product for the second quarter joined the hawkish European Central Bank's July policy meeting accounts to favor the bulls previously.bulls. Additionally, weighing on the greenback could be China’s near one trillion stimulus.
While portraying the mood, Wall Street marked the biggest daily jump in a week while the US 10-year Treasury yields dropped back to 3.03%, after rising to 3.10% the previous day. That said, the S&P 500 Futures drops 0.10% intraday by the press time.could defend the hawkish moves at the annual Jackson Hole speech. Price Index for July, the Fed’s preferred inflation gauge. Forecasts suggest that the YoY print is to ease to 4.7% from 4.8% while the monthly figures may drop to 0.3% while 0.
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