EUR/USD bears sink in their teeth deeper below parity – by fx_ross EURUSD Currencies Fed ECB CentralBanks
even if a recession in Germany is increasingly likely, as inflation will stay uncomfortably high through 2023.
Markets are focused on US events later in the week, with the second estimate of the second quarter growth data in Gross Domestic Product on Thursday, before the release of personal income and spending data for July on Friday. The main event will be the Federal Reserve comments from the Jackson Hole conference Thursday through Saturday. The main event of the Jackson Hole conference will be Fed Chair Jerome Powell's speech at 10:00 am ET Friday.
In the build-up to the Jackson Hole, there has been a chorus of speakers from the Fed, with hawkish rhetoric fueling a surge in the US dollar. The most hawkish of Fed officials were James Bullard. The central banker advocates a 75bp hike at September's meeting and added he isn’t ready to say the economy has seen the worst of the inflation surge.
''Financial conditions have continued to ease,'' analysts at TD Securities said. ''Powell's speech will likely aim to reinforce the message that multiple, sizable hikes are still in the pipeline, and easing should not be expected to be on the horizon anytime soon.''Information on these pages contains forward-looking statements that involve risks and uncertainties.
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