EUR/USD rebound fades near 1.0250 ahead of Eurozone Consumer Confidence – by anilpanchal7 EURUSD ECB Fed Coronavirus RiskAppetite
Markets fade early Asian session optimism amid mixed concerns over ECB, Fed.Preliminary readings of Eurozone Consumer Confidence for November could direct Immediate moves.trims intraday gains around 1.0250 as European traders brace for Tuesday’s task. The major currency pair’s latest losses could be linked to mixed signals from the central bankers, as well as the coronavirus woes from China.
Recently, European Central Bank policymaker Robert Holzmann backed a third consecutive 75 basis points rate increase for the December monetary policy meeting, per the Financial Times .Board member and Bank of Portugal Governor Mario Centeno raised doubts on the 75 bps rate hike whereas ECB’s Chief Economist Philip Lane said that the central bank will consider reducing its pace of rate increases at its December 15 meeting.
Against this backdrop, S&P 500 Futures reverse the day-start gains to recall 3,957 level while the US 10-year Treasury yields drop 1.3 basis points to 3.814% by the press time. Moving on, EUR/USD bears are likely to rush towards retaking control amid central bank woes and the fears of the coronavirus. However, today’sTechnical analysis
Unless crossing a convergence of the two-week-old ascending trend line and the 10-Day Moving Average , currently around 1.0285, the EUR/USD bears can aim for September’s peak surrounding 1.0200.
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