EUR/USD defends bulls around 1.0550 ahead of Fed Chair Powell’s Testimony By anilpanchal7 EURUSD ECB Fed RiskAppetite Inflation
Chair Jerome Powell’s Testimony on the bi-annual Monetary Policy Report restricts immediate moves of the quote.
On the other hand, Richmond Federal Reserve President Thomas Barkin said on Tuesday that there will be no rapid return for the U.S. economy to the experience of the previous decade of stable growth, jobs and inflation, Reuters reported. The policymaker also favored higher rates. Talking about the data, US Existing Home Sales dropped to the lowest levels in two years when talking the annualized number. Further, the Chicago Fed National Activity Index also dropped to 0.01 in May versus a revised down 0.04 prior.
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