EUR/USD slides below 1.0000 even as ECB policymakers trace Fed’s Powell, focus on US NFP – by anilpanchal7 EURUSD ECB Fed NFP Recession
Fed Chair Powell’s hawkish tone favored sellers, ECB policymakers’ signaled large rate hikes and challenged downside.Fedspeak, US PMIs and EU/German inflation can entertain traders ahead of Friday’s US NFP.begins the week on a negative note, after a two-week downtrend that refreshed the yearly low, taking offers to refresh intraday bottom around 0.9950 by the press time.
“Restoring price stability will take some time, require using central bank's tools 'forcefully',” said Fedduring his much-awaited Jackson Hole speech on Friday. The policymaker also stated that restoring price stability will likely require maintaining a restrictive policy stance for 'some time'. Elsewhere, doubts over the global central bankers’ ability to tame inflation, as well as increasing the odds of the recession, also exert downside pressure on the EUR/USD prices. US Senator Elizabeth Warren said on Sunday, per Reuters, that she was very worried that the Federal Reserve was going to tip the US economy into recession.
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