EUR/USD steadies near 1.0500 after reversing from multi-day high, Fed vs. ECB concerns eyed – by anilpanchal7 EURUSD ECB Fed RiskAppetite Currencies
US Dollar struggles to extend the previous day’s rebound from five-month low.Downbeat EU data fails to justify hawkish hopes from the ECB and weigh on prices.treads water around 1.0500, struggling to extend the previous day’s pullback from a multi-day top, as traders await more clues during early Tuesday morning in Europe.
Even so, the recent retreat in the US inflation expectations from a one-month high, per the St. Louis Federal Reserve data, from a one-month high challenge the recently hawkish bias over the US Federal Reserve’s next move. The latest prints of the 5-year and 10-year inflation expectations portray a pullback from the one-month high to 2.46% and 2.39% respectively.
It should be noted that the US Nonfarm Payrolls surprised markets by rising to 263K versus 200K expected and an upwardly revised prior of 284K while the Unemployment Rate matched market forecasts and prior readings of 3.7% for November. Following the upbeat data, Chicago President Charles Evans said, "We are probably going to have a slightly higher peak to Fed policy rate even as we slow pace of rate hikes.
While portraying the mood, S&P 500 Futures print 0.20% intraday gains around 4,011 while snapping a three-day downtrend. That said, the US 10-year Treasury bond yields fade the bounce off an 11-week low marked the last Friday, down three basis points to 3.56% by the press time.
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