EURUSD struggles around 1.0350 as Federal Reserve to continue with current rate hike pace – by Sagar_Dua24 EURUSD Fed ECB GDP Inflation
Federal Reserve’s continuation of rate hike regime to resurface US Dollar
Last week, the headline Consumer Price Index dropped to 7.7% and market participants punished the American dollar in view of the fact that the Federal Reserve will slow down its pace of hiking interest rates. However, economists at Danske Bank have a say that price pressures in the US are set to persist.
In case of the continuation of policy tightening measures by the Federal Reserve, the odds for a recession situation in the US will keep buzzing. The Greenback bulls may shift into the grip of bulls and EURUSD may face significant pressure.European Central Bank policymakers are continuing with their verdict of hiking interest rates as inflationary pressures are getting beyond their control.
The 50-and 200-period Exponential Moving Averages at 1.0080 and 0.9943 respectively are advancing, which will keep EURUSD into the grip of bulls. The American dollar could regain strength if the asset drops below the round-level support of 1.0200.
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