{"id":138571,"date":"2023-09-02T03:31:26","date_gmt":"2023-09-01T22:01:26","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=138571"},"modified":"2023-09-02T03:31:26","modified_gmt":"2023-09-01T22:01:26","slug":"eur-usd-slips-further-from-1-0900-amid-risk-aversion-strong-usd-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/eur-usd-slips-further-from-1-0900-amid-risk-aversion-strong-usd-crypto-news\/","title":{"rendered":"EUR\/USD slips further from 1.0900 amid risk-aversion, strong USD &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>\n                        <span class=\"fxs_socialmedia_bar_share_label\">Share:<\/span><\/p>\n<ul>\n<li><strong>Global market sentiment is cautious, with equities declining and bond yields rising, as investors anticipate further monetary tightening by central banks.<\/strong><\/li>\n<li><strong>July\u2019s Fed minutes reveal a unanimous decision for a rate hike but growing caution among board members about potential over-tightening.<\/strong><\/li>\n<li><strong>US data: Initial Jobless Claims slightly better than expected at 239K; Philadelphia Fed Manufacturing Index for August shows improvement.<\/strong><\/li>\n<li><strong>Eurozone reports a trade surplus of \u20ac23B, surpassing expectations. Upcoming data includes July\u2019s Harmonized Index of Consumer Prices (HICP).<\/strong><\/li>\n<\/ul>\n<p>EUR\/USD registers modest losses for the fifth straight day, widening its distance from the 1.0900 figure amid a risk-off impulse spurred by the Federal Reserve (Fed) meeting minutes, as well as woes of China\u2019s economic slowdown.<\/p>\n<h2 class=\"fxs_headline_medium\">Federal Reserve minutes and China\u2019s economic slowdown weigh on the pair, while positive US data and EU trade balance provide limited support<\/h2>\n<p>The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/technical-analysis\/sentiment\">market sentiment<\/a> remains downbeat, with global <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/markets\/equities\">equities<\/a> slumping while bond yields rise. Investors continued to assess that central banks could continue to tighten monetary conditions.<\/p>\n<p>July\u2019s Fed minutes showed the board members raised <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/rates\">rates<\/a> unanimously, even though some are leaning neutral, expressing worries about lifting rates too high. Most policymakers still see upside inflation risks, yet officials are taking a cautious approach to setting monetary policy, as they emphasized they would consider the \u201ctotality\u201d of data to \u201chelp clarify the extent to which the disinflation process was continuing.\u201d<\/p>\n<p>Following Wednesday\u2019s data release, the Atlanta Fed GDPNow model portrays the US Q3 2023 GDP at around 5.8%, up from 4.1% on August 8. Given those developments, the swaps market has shown increased chances for a Federal Reserve 25 bps rate hike at the upcoming November meeting.<\/p>\n<p>On Thursday, the US Bureau of Labor Statistics (BLS) showed the last week\u2019s Initial Jobless Claims, which fell to 239K, a tick lower than forecasts of 240K. At the same, the Philadelphia Fed Manufacturing Index for August improved, with numbers hitting 12, exceeding the -10 contraction expected by analysts.<\/p>\n<p>On the Eurozone (EU) front, the Trade Balance depicted a surplus of \u20ac23B, exceeding estimates of \u20ac18.3B. Before the weekend, the EU would report the Harmonized Index of Consumer Prices (HICP) for July, with estimates of 5.3% YoY and 0.3% MoM. Core HICP is expected to remain sticky at 5.5% YoY.<\/p>\n<h3 class=\"fxs_headline_medium\">EUR\/USD Price Analysis: Technical outlook<\/h3>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/image-638278943862608156.png\"><\/a><\/p>\n<p>EURUSD is set to test the July 6 daily low of 1.0833 in the near term. Still, the EUR\/USD 1.0800 figure should be up for grabs, followed by the 200-day Moving Average (DMA) at 1.0787. further downside is expected below the latter, as the 1.0700 psychological level would be up next. Conversely, the EUR\/USD first resistance emerges at 1.0900, followed by the 50-DMA at 1.0974.<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: Global market sentiment is cautious, with equities declining and bond yields rising, as investors anticipate further monetary tightening by central banks. July\u2019s Fed minutes reveal a unanimous decision for a rate hike but growing caution among board members about potential over-tightening. US data: Initial Jobless Claims slightly better than expected at 239K; Philadelphia Fed [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":8988,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,276,433,255,250,277,252,247,253,411,249,256,254],"class_list":["post-138571","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-currencies","tag-eurusd","tag-gta","tag-looks-rare","tag-majors","tag-oracle","tag-polygon","tag-quickswap","tag-riskaversion","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138571","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=138571"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138571\/revisions"}],"predecessor-version":[{"id":138572,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138571\/revisions\/138572"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/8988"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=138571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=138571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=138571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}