EUR/USD faces barricades above 1.0880 as spotlight shifts to US debt-ceiling issues – by Sagar_Dua24 EURUSD ECB Fed GDP SEO
S&P500 futures witnessed selling pressure in early Asia as investors are paring positions in risk-sensitive assets ahead of the US debt-ceiling talks. The overall market mood is turning risk-averse as investors are worried that further delay in US debt-ceiling outcome would fuel fears of a default in augmenting obligated payments by the US Treasury.
An unchanged interest rate policy by the Federal Reserve is widely anticipated by the market participants as the United States inflation is consistently softening for the past few months. Also, US Producer Price Index has slowed down sharply due to a bleak economicand lower gasoline prices. Recently, the expectations for a neutral policy stance jumped further as US labor market conditions started easing. However, Federal Reserve policymakers have mixed views on interest rate guidance.
Reuters reported that US House Speaker Kevin McCarthy told on Monday, “Congressional and White House negotiators were still far apart in talks to raise the debt ceiling to avoid a default.”Gross Domestic Product
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