Headwinds continue
“I fear that short-term the Euro is unlikely to manage a sustainable recovery and that it might have to put up with exchange rates around 1.07 in EUR/USD.”“I would not be at all surprised if the market had adjusted its expectations for the CPI numbers a little. But nonetheless: if today’s inflation data were to surprise on the downside it is likely to adjust its expectations further. And as this risk does exist in my view, the Euro is likely to face continued headwinds.”
EUR/USD stays defensive below 1.0700 ahead of EU inflation data
EUR/USD is trading on the back foot below 1.0700, extending its sideways movement in early Europe. The US debt deal wins the House passage. Traders refrain from placing fresh bets on the pair ahead of the EU inflation data and the US jobs data.
EUR/USD News
GBP/USD eases below 1.2450 amid a steady US Dollar, ADP eyed
GBP/USD is retreating from 1.2450 in the European morning, as the US Dollar looks to stabilize following the recent sell-off. Markets digest renewed dovish Fed expectations and US debt deal passage ahead of the top-tier US ADP jobs and ISM Manufacturing PMI data.
GBP/USD News
Gold: $1,970, looming US employment clues prod XAU/USD bulls
Gold price teases bears after keeping the buyers hopeful in the last two days, retreating from the weekly top of late. In doing so, the yellow metal justifies the market’s dicey conditions.
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