EUR/USD LOOKS CAUTIOUS AROUND 1.0960, FOCUS REMAINS ON US INFLATION
The European currency keeps the prudent stance well in place and motivates EUR/USD to gyrate around the 1.0960 region on Wednesday.
EUR/USD now looks at US inflation
EUR/USD maintains the vacillating mood well south of the 1.1000 mark amidst the generalized cautiousness ahead of the release of key US inflation figures gauged by the CPI for the month of April.
In the meantime, spot remains under pressure against the backdrop of the increased buying interest in the Greenback and the resumption of the risk-off mood in the first half of the week.
In the docket, final inflation figures in Germany saw the CPI rise 7.2% in the year to April and 0.4% vs. the previous month. In addition, Industrial Production in Italy contracted 0.6% MoM in March and 3.2% from a year earlier.
Across the pond, all the attention will be on the publication of April’s CPI. Further data will see weekly Mortgage Application and the Monthly Budget Statement.
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