EUR/USD eases below 1.0700 as Fed Chair Powell’s Testimony looms – by anilpanchal7 EURUSD ECB Fed Inflation RiskAppetite
the broad US Dollar weakness in the last two days to poke the highest levels in a fortnight. However, the cautious mood ahead of this week’s top-tier events seems to challenge the bulls of late.
Apart from the broad US Dollar weakness, hawkish comments from the European Central Bank officials also allowed to remain firmer. It’s worth noting that softer data at home contrasts with an improvement in the US statistics to probe the pair’s upside momentum and challenge the immediate moves. prints mild gains around 104.40 to snap a two-day downtrend. In doing so, the greenback’s gauge versus the six major currencies traces the recent rebound in the US Treasury bond yields.
US 10-year Treasury bond yields initially dropped to a one-week low of 3.897% on Monday before ending the day with mild gains near 3.96%, staying around the same level by the press time. On the same line, the two-year counterpart ended Monday’s North American trading session with 0.60% intraday gains at 4.88%, mostly unchanged at the latest. Sentix Investor Confidence index worsens to -11.1 in March from -8.0 in February and -8.6 expected.
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