That said, picks up bids to defend the 102.00 round figure as the US 10-year Treasury yields remain firmer around 3.51% after snapping a two-week downtrend.
It’s worth noting, however, that the mixed US data and receding hawkish bias from the Fed, contrasts with the hopes of stronger rate hikes fromAdditionally underpinning the EUR/USD upside are the mixed US data and the cautious optimism in the market as China returns to trading after one full week of the Lunar New Year holidays.
Talking about the data, the Federal Reserve's preferred gauge of inflation, namely the Core Personal Consumption Expenditures , matched 4.4% YoY market forecast versus 4.7% prior while the monthly figure rose to 0.3% versus 0.2% expected and previous readings. Ahead of that, the US Bureau of Economic Analysis' first estimate of the US fourth quarter Gross Domestic Product marked an annualized growth rate of 2.9% versus 2.6% expected and 3.2% prior.
While portraying the mood, the US Treasury bond yields grind higher but the stock futures print mild losses and challenge the EUR/USD traders. As a result, the first readings of Germany’s fourth quarter Gross Domestic Product , expected to the east to 0.0% versus 0.4% prior, will be important to watch for immediate directions as downbeat German data allows the EUR/USD bears to extend two-day downtrend.can push back the dovish concerns, as well as the ECB’s ability to please the hawks.
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