EUR/USD recovers to 0.9900 amid mixed feelings over Fed ahead of US ISM PMI

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EUR/USD recovers to 0.9900 amid mixed feelings over Fed ahead of US ISM PMI
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EUR/USD recovers to 0.9900 amid mixed feelings over Fed ahead of US ISM PMI – by anilpanchal7 EURUSD Fed PMI RiskAppetite CentralBanks

The major currency pair’s latest rebound could also be linked to the recently softer US data that pushed US dollar traders to weigh on Fed’s announcements, given the already priced-in 75 bps rate hike. Also keeping the quote’s upside intact could halt in the US Treasury yields’ run-up and mixed comments from US President Joe Biden and Russian leader Vladimir Putin.

On Monday, the US Chicago Purchasing Managers’ Index and Dallas Fed Manufacturing Business Index for October came in at 45.2 and -19.4 versus 47.0 and -15.0 expected respectively.and gas companies to use their record profits to lower costs for Americans and increase production, or pay a higher tax rate, as he battles high pump prices with elections coming in a week,” said Reuters.

While portraying the mood, the US 10-year Treasury yields remain sluggish near 4.05% but the equity futures print mild gains amid hopes of easing energy prices, as well as inflation. “The safe-haven greenback got some support from overnight losses on Wall Street, but a rise in U.S. stock futures and firmness in Asian

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