EUR/USD recovers recent losses recorded in the previous session, trading higher near 1.0670 during the Asian session on Friday.
EUR/USD faced a challenge as the US Dollar surged in the previous session. Euro experiences pressure on ECB ’s uncertainty regarding the next policy move . Fed Chair Powell stated IMF event that current policies may not be enough to curb inflation. The EUR/USD pair experienced losses due to the hawkish remarks from US Federal Reserve Chair Jerome Powell during a panel discussion at the International Monetary Fund event on Thursday.
Market pricing suggests a 30% chance of a cut in March. ECB Vice President Luis de Guindos mentioned on Thursday that it is premature to begin discussing interest rate cuts, potentially adding pressure on the Euro. China's inflation data for October revealed a decline compared to the earlier recorded growth. The deteriorating economic conditions in China are dampening investors' enthusiasm for riskier assets like EUR/USD pair.
EUR/USD US Dollar ECB Policy Move Fed Chair Powell Inflation Losses Asian Session Hawkish Remarks Panel Discussion International Monetary Fund
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