Stability of EUR/USD as US CPI Inflation Data Takes Center Stage
Tuesday, 13 August 2024, 01:30
Market Overview
The EUR/USD exhibits a subdued performance as the US Dollar edges higher.
US CPI Inflation Focus
- Investors are concentrating on the US CPI data for July.
- The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, reflects the current sentiment.
Market Sentiment
As the inflation data approaches, the market shows a cautious stance.
- Investors are adopting a wait-and-see strategy.
- The tight range of EUR/USD indicates low volatility.
In summary, the upcoming inflation report could sway the market significantly.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.