EUR/USD struggles to gain ground around 1.0530, focus on the US data, Fed’s Powell speech
The post EUR/USD struggles to gain ground around 1.0530, focus on the US data, Fed’s Powell speech appeared on BitcoinEthereumNews.com. EUR/USD remains on the defensive around 1.0538 amid the rising US Treasury yields. The US housing data showed mixed results on Wednesday. The Eurozone Harmonized Index of Consumer Prices (HICP) came in at 0.3% in September, as expected. US Jobless Claims, the Philly Fed index, the Federal Reserve Chair Powell’s speech will be closely watched events. The EUR/USD pair struggles to gain and resumes its downside during the early Asian session on Thursday. The escalating geopolitical tension between Israel-Hamas and higher US Treasury bond yield exert some selling pressure on the pair. EUR/USD currently trades around 1.0538, up 0.01% for the day. Meanwhile, the US Dollar Index (DXY), a measure of the value of the USD relative to a basket of foreign currencies, resumes its upward path, rising to 106.55. US Treasury yields edge higher, with the 10-year Treasury yield surging to 4.911%, the highest level since 2007. That being said, a rise in bond yield and the cautious mood in the market boost the US Dollar (USD) broadly. Additionally, the Fed speakers reiterated their preference to keep rates on hold. Their comments lift the US bond yields higher amid robust momentum in US growth. The US housing market revealed mixed results on Wednesday. Building Permits fell to 1.475M in September, above the estimated of 1.45M, while Housing Starts rose to 1.35M, below the market consensus of 1.38M. However, there was nothing in the data to convince the FOMC to abandon its current guidance. According to the Beige Book, economic activity showed “little to no change” between September and early October. The Harmonized Index of Consumer Prices (HICP) in the Eurozone released by Eurostat came in at 0.3% in September, data published by Eurostat showed Wednesday. The European Central Bank (ECB) President Christine Lagarde remarked that underlying inflation remains strong and…
The post EUR/USD struggles to gain ground around 1.0530, focus on the US data, Fed’s Powell speech appeared on BitcoinEthereumNews.com.
EUR/USD remains on the defensive around 1.0538 amid the rising US Treasury yields. The US housing data showed mixed results on Wednesday. The Eurozone Harmonized Index of Consumer Prices (HICP) came in at 0.3% in September, as expected. US Jobless Claims, the Philly Fed index, the Federal Reserve Chair Powell’s speech will be closely watched events. The EUR/USD pair struggles to gain and resumes its downside during the early Asian session on Thursday. The escalating geopolitical tension between Israel-Hamas and higher US Treasury bond yield exert some selling pressure on the pair. EUR/USD currently trades around 1.0538, up 0.01% for the day. Meanwhile, the US Dollar Index (DXY), a measure of the value of the USD relative to a basket of foreign currencies, resumes its upward path, rising to 106.55. US Treasury yields edge higher, with the 10-year Treasury yield surging to 4.911%, the highest level since 2007. That being said, a rise in bond yield and the cautious mood in the market boost the US Dollar (USD) broadly. Additionally, the Fed speakers reiterated their preference to keep rates on hold. Their comments lift the US bond yields higher amid robust momentum in US growth. The US housing market revealed mixed results on Wednesday. Building Permits fell to 1.475M in September, above the estimated of 1.45M, while Housing Starts rose to 1.35M, below the market consensus of 1.38M. However, there was nothing in the data to convince the FOMC to abandon its current guidance. According to the Beige Book, economic activity showed “little to no change” between September and early October. The Harmonized Index of Consumer Prices (HICP) in the Eurozone released by Eurostat came in at 0.3% in September, data published by Eurostat showed Wednesday. The European Central Bank (ECB) President Christine Lagarde remarked that underlying inflation remains strong and…
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