EUR/USD prods 1.1250 hurdle on hawkish ECB talks ahead of US Retail Sales – by anilpanchal7 EURUSD ECB Fed RiskAversion RetailSales
ECB’s Nagel cites “sticky” inflation to favor rate hike in September, ECB’s Vasle emphasizes resilient and high core inflation.ECB talks, second-tier US data will also be watched for clear directions as bulls struggle to cross key resistance.
On Monday, European Central Bank policymaker Boštjan Vasle said, “We need to keep tightening policy at our next meeting.” The policymaker emphasizes the resilient and high core inflation while favoring the hawkish move. On Monday, New York Empire State Manufacturing Index for July eased to 1.1 from 6.6 prior and 0.0 market forecasts. The data failed to inspire the US Dollar Index sellers initially before weighing on the DXY, probing Friday’s recovery backed by the upbeat prints of the University of Michigan’s Consumer Sentiment Index and consumer inflation expectations for the said month.
Against this backdrop, Wall Street closed with minor gains whereas the US Treasury bond yields remained pressured.
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