Fed Chair Powell doesn’t foresee high risk of recession this year.
European Retail Sales figures beat expectations.
US labor numbers eased ahead of Friday’s NFP.
EUR/USD tested into its highest bids since late January, briefly crossing 1.0900 to tap 1.0915 before settling back slightly but still well into the green for Wednesday. The pair is on pace to close in the green for a fourth consecutive trading day as markets gear up for another outing from Federal Reserve (Fed) Chairman Jerome Powell on Thursday and Friday’s Nonfarm Payrolls (NFP) labor report.
Fed Chair Powell will be speaking again on Thursday for the second half of two-day testimony before the US Congressional House Financial Services Committee. Friday’s US NFP jobs additions figure is expected to ease to 200K in February, down from January’s 11-month peak of 353K. Before Friday’s NFP, markets will be looking out for the European Central Bank’s (ECB) latest rate call, due at 13:15 GMT on Thursday.
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