EUR/USD portrays pre-Fed anxiety below 1.000, ECBSpeak, FOMC actions in focus – by anilpanchal7 EURUSD ECB Fed RiskAppetite Recession
ECB’s Lagarde couldn’t defend EUR/USD bulls as Nouriel Roubini backs 1.0% Fed rate hike.ECB’s Non-Monetary Policy Meeting, comments from De Guindos to offer immediate directions ahead of Fed showdown.flashes mild losses around 0.9960 as it prints the market’s cautious mood ahead of the Federal Open Market Committee . That said, the major currency pair dropped the most in one week the previous day as hawkish Fed bets superseded upbeat comments from the European Central Bank officials.
Elsewhere, Russia’s plans for occupied regions and the Western agitations for the same also weigh on the EUR/USD prices. “Moscow-installed leaders in occupied areas of four Ukrainian regions plan to hold referendums on joining Russia in coming days, a challenge to the West that could sharply escalate the war and which drew condemnation from Ukraine and its allies,” said Reuters.
Furthermore, fears surrounding China and Russia were also underpinning the US dollar’s safe-haven demand. Reuters reported that the Asian Development Bank on Wednesday cut its growth forecasts for developing Asia for 2022 and 2023 amid mounting risks from increased central bank monetary tightening, the fallout from the war in Ukraine and COVID-19 lockdowns in China.