EUR/USD: Bears in control around 1.0600 ahead of Fed’s preferred inflation gauge – by anilpanchal7 EURUSD Fed RiskAppetite YieldCurve Inflation
ay morning in Asia. In doing so, the major currency pair justifies the broad US Dollar strength amid upbeat US data, as well as a pullback in the US Treasury bond yields ahead of the key US inflation clues.
That said, traders’ factoring in the multiple rate hikes seems to underpin the corrective pullback in the US Treasury bond yields and the US Dollar. “US Treasury yields slid in choppy trading on Thursday, with investors already factoring in strong economic data that has supported expectations of a few more interest rate hikes by the Federal Reserve this year,” said Reuters.
Alternatively, comments from US Treasury Secretary Janet Yellen signaled that the US will resume discussions with China on economic issues 'at an appropriate time' whereas China’s Commerce Ministry urged the US to create good conditions for trade with China. The news managed to trigger the pair’s bounce off a multi-day low on Thursday.
However, the latest headlines suggesting China’s readiness to supply combat drones to Russia and the US Senators’ push to halt Chinese carriers overflying Russia on US flights seem to renew the market fears and weigh on the AUD/USD prices. Thursday’s US data dump signaled that the second reading of the Gross Domestic Product Annualized, better known as Real GDP, eased to 2.7% for the fourth quarter versus 2.9% first forecasts. However, the Personal
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