EUR/USD 1.18080
0.306%
Gold 5188.46
0.881%
Oil 65.512
-0.777%
USD/JPY 156.344
0.286%
GBP/USD 1.35551
0.495%
GBP/JPY 211.930
0.794%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to Russian reports, the next trilateral meeting between Russia and Ukraine may not be held in Geneva.Atlanta Federal Reserve President Raphael Bostic said on Wednesday that the rift between the Federal Reserve and the White House has begun to erode public trust in the central banks apolitical position. This is one of the most direct warnings yet from a senior monetary policy official about the consequences of Trumps hawkish stance on the Fed. In his farewell address before retiring from the Atlanta Fed at the end of February, Bostic said his colleagues within the Fed system remain committed to keeping their work separate from politics. "But my visits over the past few months have made it clear that the legal and verbal battles surrounding the central bank have led people from all walks of life to question the Feds independence, which is a serious concern." Bostic is not the only Fed official this year to emphasize the importance of central bank independence, but no one has warned as directly as he did on Wednesday that the current controversies could undermine public trust in the institution.The vote count showed that the French government survived its first vote of no confidence in parliament.February 26 - According to the Cuban Embassy in the United States, the Cuban Ministry of the Interior issued a statement saying that when a border patrol vessel approached a U.S. speedboat for identification checks, the crew of the speedboat opened fire on the Cuban personnel, injuring the Cuban patrol vessels commander. As of the time of this announcement, four attackers on the foreign vessel have died and six others have been injured.Federal Reserves Bostic: A broad group has begun to question the Feds independence. The Feds independence in setting monetary policy has improved economic outcomes and market confidence, helping to maintain the U.S.s status as a safe haven.

The EUR/USD rise is getting close to 1.0200 as investors await US inflation data

Daniel Rogers

Aug 09, 2022 14:58

 截屏2022-08-09 上午10.12.13.png

 

The EUR/USD moves in the 1.0200 range during Tuesday's Asian session after falling from 1.0221 as traders look for fresh data. The major currency pair gained over the first part of the week but lost some of those gains by Monday's close. Recent price fluctuations, however, seem to be constrained by a lack of noteworthy data or events and a cautious attitude ahead of Wednesday's release of the US Consumer Price Index (CPI) for July.

 

Gains in the EUR/USD the day before are shown by higher readings of the Eurozone Sentix Investor Confidence Index and a drop in US Treasury yields. The primary sentiment indicator Index, however, increased in August from -26.4 to -25.2, which was projected to be the value. According to specifics, the eurozone's present state has improved from this month's lowest position since March 2021, when it was -16.5, to -16.3. The expectations index is at its lowest level since December 2008, despite a little increase to -33.8. It is still very close to that level. The US Dollar Index (DXY), in contrast, saw a daily decrease of 0.19 percent to 106.37.

 

The moderate Azione's resignation from the newly formed alliance ahead of the September elections looks to have put negative pressure on the Euro elsewhere due to Italian political worries.

 

The moderate Azione has backed out of its coalition with the Democratic Party and the +Europe party after only agreeing to do so last week. According to party leader Carlo Calendar, "the parts didn't fit." According to Reuters and Market News Publishing US, the alliance was formed in an effort to stop a more conservative government from taking office after the election on September 25.

 

Notably, gains in the EUR/USD the day before appeared to have been constrained by US President Joe Biden's displeasure of China's efforts to retake Taiwan and his censure of House Speaker Nancy Pelosi's trip to Taipei.

 

These actions caused the 10-year US Treasury rates, which had increased by 14 basis points (bps) the day before, to fall by around seven basis points (bps) to 2.75 percent. Wall Street also started Monday's trading day on a positive one before ending on a mixed note, albeit as of press time, S&P 500 Futures are showing minor gains.

 

Participants in the EUR/USD market may be interested in the second quarter's (Q2) US Nonfarm Productivity and Unit Labor Costs data. Forecasts suggest that US Nonfarm Productivity may rise to -4.6% from -7.3%, while Unit Labor Costs may decrease to 9.5% from 12.6%. The news regarding Taiwan and Russia will also be important for determining direction.


Suggestion