EUR/USD: Euro bulls attack 1.1010 hurdle as US Dollar slides on downbeat inflation expectations – by anilpanchal7 EURUSD ECB Fed Inflation Employment
r cheers the broad US Dollar weakness, as well as the risk-on mood, despite hawkish comments from the Federal Reserve officials.
Recently, San Francisco Fed President Mary Daly said, "We're likely to need a couple more rate hikes over the course of this year to really bring inflation sustainably back to the Fed's 2% goal." On the same line, Cleveland President Loretta Mester also said that the Fed will need to tighten the monetary policy "somewhat further" to lower inflation.
On the other hand, the Eurozone Sentix Investor Confidence declined to -22.5 for July from -17 in June. Adding to the pessimism were comments from Sentix managing director Manfred Huebner who said, “There is also nothing positive to report in terms of forward-looking expectations.” Sentix’s Huebner also mentioned that the Investor Confidence Index for Germany fell 7.3 points to -28.4.
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