{"id":108185,"date":"2021-02-03T17:00:38","date_gmt":"2021-02-03T17:00:38","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=108185"},"modified":"2021-02-03T17:00:38","modified_gmt":"2021-02-03T17:00:38","slug":"dxy-strength-drags-on-eur-usd-ahead-of-cpi","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/dxy-strength-drags-on-eur-usd-ahead-of-cpi\/","title":{"rendered":"DXY Strength Drags On EUR\/USD Ahead of CPI"},"content":{"rendered":"<ul>\n<li><strong>Stocks markets extended gains on fiscal stimulus optimism and strong earnings releases.<\/strong><\/li>\n<li><strong>The divergent outlooks of the ECB and Federal Reserve could hamper the EUR\/USD.<\/strong><\/li>\n<li><strong>US Dollar Index (DXY) set to extend gains<\/strong><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Stock markets extended gains\u00a0 in the Asian session. on the prospect of additional US fiscal stimulus and upbeat earnings reports. Australia\u2019s ASX 200 rallied 0.92% while Japan\u2019s Nikkei 225 advanced 1% higher.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In FX markets, the risk-sensitive AUD, NZD and NOK outperformed, while the safe haven JPY and CHF underperformed. Looking ahead, Euro -area inflation figures for January and US ISM non-manufacturing data will be in focus.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Divergent Monetary Policy Outlooks Could Drag on EUR\/USD<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The divergence in monetary policy outlook between the European Central Bank and the Federal Reserve could pull on the EUR\/ USD as several ECB Governing Council members hint towards supporting further interest rates cuts.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, multiple Federal Reserve members have suggested\u00a0 that the central bank could taper its Quantitative Easing (QE) program later this year.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Although Chairman Jerome Powell was\u00a0 clear that the focus on exit is premature\u201d. That said, the Fed looks unlikely to loosen monetary policy further for now.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With the ECB considering further cuts to spark inflation investors could continue to favour the Greenback over the Euro in the near term.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Eurozone inflation data will be closely eyed.to determine the ECB\u2019s next steps. Weak inflation could boost the central bank to act sooner adding pressure to the Euro.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stocks markets extended gains on fiscal stimulus optimism and strong earnings releases. The divergent outlooks of the ECB and Federal Reserve could hamper the EUR\/USD. US Dollar Index (DXY) set to extend gains Stock markets extended gains\u00a0 in the Asian session. on the prospect of additional US fiscal stimulus and upbeat earnings reports. Australia\u2019s ASX [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5074,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1381],"tags":[1395,2412,1398],"class_list":{"0":"post-108185","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-usd","9":"tag-eur","10":"tag-eur-usd","11":"tag-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>DXY Strength Drags On EUR\/USD Ahead of CPI - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/dxy-strength-drags-on-eur-usd-ahead-of-cpi\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/dxy-strength-drags-on-eur-usd-ahead-of-cpi\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/dxy-strength-drags-on-eur-usd-ahead-of-cpi\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"DXY Strength Drags On EUR\\\/USD Ahead of CPI\",\"datePublished\":\"2021-02-03T17:00:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/dxy-strength-drags-on-eur-usd-ahead-of-cpi\\\/\"},\"wordCount\":251,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/dxy-strength-drags-on-eur-usd-ahead-of-cpi\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100747-pound-flat-vs-euro-italy-break.jpg\",\"keywords\":[\"eur\",\"eur\\\/usd\",\"usd\"],\"articleSection\":[\"EUR\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2021\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/dxy-strength-drags-on-eur-usd-ahead-of-cpi\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/dxy-strength-drags-on-eur-usd-ahead-of-cpi\\\/\",\"name\":\"DXY Strength Drags On EUR\\\/USD Ahead of CPI - 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