EUR/USD exposes to 1.0300 as Eurozone stares a recession, Fed Powell’s speech in focus – by Sagar_Dua24 EURUSD Fed ECB SEO Inflation
have resurfaced after dropping below 3.65%. The 10-year US Treasury yields have rebounded above 3.69% on hawkish commentaries from Federal Reserve policymakers over interest rate guidance.No doubt, the United States inflation has shown a meaningful drop in its October month report and market participants have also punished US Dollar and US Treasury yields for the same. The headline United States Consumer landed at 7.7% while core CPI was trimmed to 6.3%.
According to the estimates, the United States economy has created additional 208K jobs in November vs. the prior release of 261K. The Unemployment Rate is seen unchanged at 3.7%. Higher interest obligations due to severe policy tightening by the Federal Reserve have forced firms to postpone their expansion plans, which has trimmed the requirements for more manpower. Also, weaker economic projections have led to the utilization of current manpower in an optimal manner.
Meanwhile, investors are shifting their focus on the release of the Eurozone Harmonized Index of Consumer Prices , which will release on Tuesday. As per the consensus, the headline HICP will decline to 10.4% vs. the prior release of 10.6%. While the core HICP data that excludespattern on a four-hour scale. The formation of the above-mentioned chart pattern indicates a bearish reversal as the asset tested previous highs on Monday around 1.0500 with weak buying interest.
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