EUR/USD bulls keep reins around mid-1.0900s on Juneteenth holiday, PMIs, Fed Chair Powell eyed – by anilpanchal7 EURUSD ECB Fed RiskAversion PMI
mped the most since early January the previous week as the European Central Bank out-hawked the Federal Reserve . Also favoring the Euro bulls were mostly mixed US data and receding fears of the economic slowdown. It should be noted, however, that Friday’s upbeat US data and hawkish Fed signals probed the pair buyers at the highest levels since early May, before the latest inaction at the top.
On the other hand, German Chancellor Olaf Scholz faces a delicate balancing act this week at the German-Chinese government consultations in Berlin, per Reuters. The news also signaled that the German Leader is seeking to maintain good ties with Germany's largest trade partner while complying with a G7 pledge to "de-risk" from Beijing.
Additionally, Richmond Fed President Thomas Barkin said, “Raising rates further could create the risk of a more significant slowdown in the economy.” The policymaker, however, also added that the Fed can do comfortable more to slow the resilient US economy, which in turn triggered a jump in the 2-year Treasury bond yields to 4.75% and helped the US Dollar to get off the lows.
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