EUR/USD sellers attack 1.0930 support on firmer yields, downbeat ECB concerns, focus on Fed Minutes – by anilpanchal7 EURUSD ECB Fed RiskAversion Macroeconomics
policy pivot join the firmer US Treasury bond yields to exert downside pressure on the Euro pair. However, a light calendar and cautious mood ahead of this week’s top-tier US data, as well as Minutes of the latest Federal Open Market Committee monetary policy meeting, put a floor under the prices.bears, the European Central Bank’s monthly Economic Bulletin unveiled a highly uncertain outlook for the bloc’s economic growth and inflation.
The US Consumer Price Index numbers for July failed to lift the Fed bets for September, suggesting the nearness to the policy pivot. However, the CPI details and other price pressure measures managed to keep the Greenback buyers hopeful. It’s worth noting that the US for July, the preliminary readings of the University of Michigan’s Consumer Sentiment Index for August and the UoM 5-Year Consumer Inflation Expectations for the said month helped the USD benefit on Friday.
It should be noted that the geopolitical concerns about China and Russia, as well as looming bond defaults from Beijing, also challenge the sentiment and allow the US Dollar to cheer its haven status.
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