EUR/USD grinds higher past 1.0800 as easing bank, inflation fears weigh on US Dollar – by anilpanchal7 EURUSD ECB Fed Inflation RiskAversion
US Dollar remains pressured as recently softer data, policymakers’ comments underpin risk-on mood.ECB President Lagarde’s speech, US CB Consumer Confidence eyed for intraday directions.bulls take a breather around intraday high of near 1.0815 as traders seek more clues to extend the two-day run-up during early Tuesday. It’s worth noting that the comparatively upbeat catalysts from Eurozone versus the US joined risk-on mood to underpin the Euro pair’s latest run-up.
Recently, US Treasury Department said that the US will keep using tools to prevent banking contagion as needed. Before that, Federal Reserve Governor Philip Jefferson and Fed Vice Chair for Supervision Michael Barr showed readiness to tame the banking crisis while signaling an ease in the inflation woes.
Meanwhile, the geopolitical fears surrounding China and Russia challenge the market’s upbeat sentiment, as well as the EUR/USD bulls. That said, talks about China’s failure to keep the pace of growth promised, as well as Russia’s alleged readiness to use nuclear weapons against Ukraine. On the same line are the latest comments from North Korean Leader Kim Jong Un who recently stated, per KCNA news, “ should be fully ready to use nuclear weapons at any time.
Against this backdrop, S&P 500 Futures print mild gains around 4,010 during the four-day uptrend whereas the US Treasury bond yields remain sidelined after snapping a three-day downtrend on Monday. It’s worth noting that the US 10-year and two-year Treasury yields grind higher around 3.53% and 3.93% by the press time. That said, drops for the second consecutive day to 102.65, down 0.21% intraday by the press time.
Looking forward, the US Conference Board’s Consumer Confidence for March, as well as the second-tier housing and activity data, can direct intraday moves of the EUR/USD pair. However, major attention will be given to ECB President Christine Lagarde’s speech and inflation clues for clear directions, which in turn highlights today’s statements from ECB’s Lagarde and Harmonized Index of Consumer Prices details for Germany and Europe, up for publishing on Thursday and Friday.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pairs in Focus This Week \u2013 EUR/USD, Gold, GBP/USD, USD/JPYGet the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of March 26th, 2022 here.
Read more »
EUR/USD: Weekly Forecast 26th March - 1st AprilThe EURUSD hit a high of nearly 1.09300 on Thursday of last week as the currency pair mounted an upwards attack- trading forextrading
Read more »
EUR/USD eases below 1.0800 despite hawkish ECB talks, EU/US inflation cues eyedEUR/USD retreats towards 1.0750 as it consolidates the previous weekly gains amid cautious mood in the market ahead of the key inflation data from Eur
Read more »
EUR/USD Price Analysis: Retreats towards 1.0730 support confluenceEUR/USD takes a U-turn from the intraday high while declining to 1.0770 during the mid-Asian session on Monday. In doing so, the major currency pair c
Read more »
EUR/USD juggles below 1.0800 amid subdued USD, geopolitical tensions renewThe EUR/USD pair is displaying a back-and-forth action below 1.0800 in the Tokyo session. The major currency pair has turned sideways following the fo
Read more »
EUR/USD Price Analysis: Looks quiet below 1.0800 as US recession fears mountThe EUR/USD pair is displaying topsy-turvy moves in a narrow range below 1.0800 in the early European session. The major currency pair is struggling t
Read more »