EUR/USD bears flex muscles above 1.1400, focus on EU Economic Forecasts, US Inflation By anilpanchal7 EURUSD RiskAppetite YieldCurve Inflation Macroeconomics
Yields dribble, stock futures print mild losses ahead of the key events.High hopes from US CPI for January can disappoint pair sellers.
The major currency pair’s prior gains could be linked to the broad US dollar weakness. However, the market’s anxiety ahead of the key US data and quarterly release of the European Commission Economic Forecasts seem to challenge the buyers of late. “Euro-area inflation will ease below the European Central Bank’s 2% target next year, according to new draft projections from the European Union that will feed the growing debate about how quickly to raise interest rates,” said Bloomberg.
It’s worth noting that the European Central Bank Executive Board Member Isabel Schnabel said, “Inflation will remain high for longer than anticipated.” However, her comments like, “Raising rates would not lower energy prices,” seem to challenge ECB hawks. On the same line were comments from Bundesbank President and ECB Board Member Joachim Nagel. ECB”s Nagel said, "First step would be to end bond purchases, then rates could already rise in 2022.
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