Financial markets extend the cautious trading on Wednesday amid mixed comments from Federal Reserve (Fed) officials and Chinese woes, although the US Dollar remains under modest selling pressure.
EUR/USD Current Price: 1.0769 Mixed words from Federal Reserve officials reinforce the market's cautious stance. German Industrial Production fell sharply in December, weighing on the Euro. EUR/USD trades near its weekly high, but chances of a steeper advance seem limited. Financial markets extend the cautious trading on Wednesday amid mixed comments from Federal Reserve officials and Chinese woes, although the US Dollar remains under modest selling pressure. EUR/USD changes hands in the 1.
6% in the month and 3% from a year earlier. Across the pond, the US published MBA Mortgage Applications for the week ending February 2, which increased by 3.7%, improving from a previous 7.2% contraction. The country will shortly unveil the December Goods and Services Trade Balance, while several Fed speakers will be on the wires throughout the American afternoon. Finally, government bond yields ticked higher, maintaining the positive tone but lacking momentum at the time of writing.