EUR/USD renews monthly low below 1.0700 amid ECB, Fed chatters, focus on EU GDP, US inflation – by anilpanchal7 EURUSD ECB Fed Inflation GDP
ng strength to the recovery moves could be the recent consolidation in the market’s sentiment after US General’s comments. However,official’s dovish comments contrast with comparatively upbeat statements from the Federal Reserve policymaker to keep the pair sellers hopeful ahead of the key growth and inflation data from the Eurozone and the US in that order.
Earlier in the day, Governing Council member Ignazio Visco mentioned that the ECB must avoid pushing real interest too high, given the level of private and public debt in the euro area. The same joins the recently downbeat comments from the ECB policymakers and fears of recession inside the bloc to weigh on the EUR/USD.
On Friday, the US inflation expectations per the 10-year and 5-year breakeven inflation rates from the St. Louis Federal Reserve remain firmer around the monthly highs marked in the last week. Further, preliminary readings of the US University of Michigan Consumer Sentiment for February rose to 66.4 versus 65.0 expected and 64.9 prior. Further, the UoM noted that the year-ahead inflation expectations rebounded to 4.2% this month, from 3.9% in January and 4.4% in December.
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