EUR/USD faces barricades around 1.1000 as chances for Fed’s rate hike remain stubborn – by Sagar_Dua24 EURUSD ECB Fed RetailSales DollarIndex
The USD Index rebounded after a fresh annual low despite Retail Sales contracting more than anticipated.is struggling to extend its recovery above the psychological resistance of 1.1000 in the early Asian session. The major currency pair is facing hurdles in stretching its recovery above 1.1000 as chances for one more rate hike from the Federal Reserve remain firm despite a decline in retail demand by households.data released on Friday showed a contraction of 1.
S&P500 futures settled Friday’s session with some losses as investors remained cautious that one more rate hike from theand tight credit conditions by United States commercial banks would squeeze out liquidity significantly. The CME Fedwatch tool is indicating more than 98% of investors are in favor of one more 25 basis points rate hike from the Fed.
The odds for further policy tightening by the Fed heightened after hawkish commentary from Fed Governor Christopher Waller. Fed Waller said on Friday that despite a year of aggressive rate increases, U.S. central bankers "haven't made much progress" in returning inflation to their 2% target and need to move
higher still. He further added “The job on inflation was still “not done,” as inflation remains “far too high.”Index showed a recovery move after printing a fresh one-year low of 100.79 as Fed’s rate-hiking show is far from over.front, mixed views from European Central Bank policymakers have shifted investors to the sidelines.
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