EUR/USD marches towards 1.0480 hurdle ahead of German IFO data, ECB Meeting Accounts – by anilpanchal7 EURUSD ECB RiskAppetite Fed Currencies
session. The major currency pair’s latest gains could be linked to the risk-on mood, as well as broad-based US Dollar weakness.
Market sentiment improves amid receding fears of the US Federal Reserve’s aggressive rate hikes, especially after the previous day’s Federal Open Market Committee Meeting Minutes. Also likely to underpin the cautious optimism are hopes of Chinese government stimulus and a cut to the People’s Bank of China’s Reserve Requirement Ratio .
While portraying the mood, the S&P 500 Futures join firmer Asia-Pacific shares to print mild gains but the Treasury yields are inactive amid the Thanksgiving celebration in the US. On the other hand, upbeat prints of the bloc’s activity numbers for November contrasted with the softer PMIs for theIt’s worth observing, however, that the EUR/USD Risk Reversal , a gauge of call options to put one, braces for the second weekly negative, suggests the bears aren’t off the table. As a result, today’s readings of German IFO sentiment numbers for November and details ofMonetary Policy Meeting Accounts, will be closely observed for clear directions.
While the softer statistics from the bloc’s powerhouse may allow the EUR/USD bulls to take a breather, the recently hawkish calls from the ECB policymakers contrast with the
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