EUR/USD drops back below 0.9700 as yields rebound ahead of US GDP, German inflation – by anilpanchal7 EURUSD Inflation RiskAppetite YieldCurve CentralBanks
d positive performance. That said, the major currency pair takes offers to renew the intraday low near 0.9670 while reversing the previous day’s bounce off the 20-year low, also consolidating the biggest daily jump in six months.
On the same line could be the People’s Bank of China’s first increase in the onshore yuan fix in nine days and plans to issue 2.5 trillion yuan in government bonds in Q4. Looking forward, Germany’s headline inflation data, namely the Harmonized Index of Consumer Prices , could direct immediate EUR/USD moves amid upbeat expectations from the release, 10.0% YoY versus 8.8% prior. Following that, readings of the US Q2 Gross Domestic Product , expected to confirm -0.6% annualized figure, will be important to watch clear directions.