Euro looks cautious near 1.0550 prior to Fedspeak, data
The post Euro looks cautious near 1.0550 prior to Fedspeak, data appeared on BitcoinEthereumNews.com. The Euro comes under pressure following weekly tops vs. the US Dollar. Stocks in Europe trade mostly on the defensive on Tuesday. EUR/USD runs out of steam near 1.0580. The USD Index (DXY) maintains the constructive tone near 106.40. Germany, Eurozone Economic Sentiment surprised to the upside. US Retail Sales came in above expectations in September. The Euro (EUR) could not sustain the earlier bull run to the area of weekly highs around 1.0580 against the US Dollar (USD), prompting EUR/USD to rapidly give away those gains and refocus its attention to the downside once again on Tuesday. In the meantime, the Greenback keeps the bullish performance in place around the 106.30–106.40 band when tracked by the USD Index (DXY), setting aside Monday’s negative performance as selling pressure in the US fixed-income market persists. Continuing to centre attention on monetary policy, investors anticipate that the Federal Reserve (Fed) will uphold its position of not implementing any interest rate adjustments throughout the remainder of the year. Meanwhile, participants in the financial markets contemplate the possibility of the European Central Bank (ECB) halting its interest-rate policy as well, despite inflation levels surpassing the bank’s target and mounting concerns about an economic downturn or stagflation in the European region. On the euro docket, the Economic Sentiment in both Germany and the broader euro area tracked by the ZEW Institute came in above expectations at -1.1 and 2.3 for the month of October. In the US, Retail Sales expanded 0.7% MoM in September and Industrial Production expanded 0.3% MoM in the same month. Later in the NA session, the NAHB Housing Market Index, Business Inventories and speeches by FOMC Governor Michelle Bowman (permanent voter, hawk), NY Fed President John Williams (permanent voter, centrist), Minneapolis Fed Neel Kashkari (voter, hawk) and Richmond Fed President Thomas Barkin (2024 voter, centrist) are all due. Daily…
The post Euro looks cautious near 1.0550 prior to Fedspeak, data appeared on BitcoinEthereumNews.com.
The Euro comes under pressure following weekly tops vs. the US Dollar. Stocks in Europe trade mostly on the defensive on Tuesday. EUR/USD runs out of steam near 1.0580. The USD Index (DXY) maintains the constructive tone near 106.40. Germany, Eurozone Economic Sentiment surprised to the upside. US Retail Sales came in above expectations in September. The Euro (EUR) could not sustain the earlier bull run to the area of weekly highs around 1.0580 against the US Dollar (USD), prompting EUR/USD to rapidly give away those gains and refocus its attention to the downside once again on Tuesday. In the meantime, the Greenback keeps the bullish performance in place around the 106.30–106.40 band when tracked by the USD Index (DXY), setting aside Monday’s negative performance as selling pressure in the US fixed-income market persists. Continuing to centre attention on monetary policy, investors anticipate that the Federal Reserve (Fed) will uphold its position of not implementing any interest rate adjustments throughout the remainder of the year. Meanwhile, participants in the financial markets contemplate the possibility of the European Central Bank (ECB) halting its interest-rate policy as well, despite inflation levels surpassing the bank’s target and mounting concerns about an economic downturn or stagflation in the European region. On the euro docket, the Economic Sentiment in both Germany and the broader euro area tracked by the ZEW Institute came in above expectations at -1.1 and 2.3 for the month of October. In the US, Retail Sales expanded 0.7% MoM in September and Industrial Production expanded 0.3% MoM in the same month. Later in the NA session, the NAHB Housing Market Index, Business Inventories and speeches by FOMC Governor Michelle Bowman (permanent voter, hawk), NY Fed President John Williams (permanent voter, centrist), Minneapolis Fed Neel Kashkari (voter, hawk) and Richmond Fed President Thomas Barkin (2024 voter, centrist) are all due. Daily…
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