EUR/USD aims to build a cushion above 1.0450, US data trigger Fed’s rate peak chaos – by Sagar_Dua24 EURUSD SEO ECB Fed Inflation
has turned sideways around 105.60 after an open rejection-reverse move in early Asia. S&P500 futures are attempting hard to regain traction but a solid risk-averse theme is fading signs of recovery. The 10-year US Treasury yields are attempting firm to extend gains above 3.55%.For the past year, the Federal Reserve is working day and night to contain mounting inflation.
Firms are still unhappy with accelerating interest rates and now higher guidance for a neutral rate will force them to call-off expansion plans. This may also push the economy into recession and the equities will face the heat again. It may also result in higher delinquency costs for commercial banks as households could miss payments of interest obligations due to higher interest rates.
ECB Chief Economist Phillip Lane is dubious about the inflation peak as it has been achieved or still to come next year. He further added that he expects more rate hikes ahead but "a lot has been done already".
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