EUR/USD PENNED IN AS TRADERS AWAIT US CPI
EUR/USD is captive to a range as traders await the next market mover, the US CPI data on Wednesday.
US inflation expectations are high while US Treasury yields have made a new high for the year.
The pair is trading within a narrow range between the 50, 100 and 200-day Simple Moving Averages.
EUR/USD trades penned in, seesawing between tepid gains and losses in the 1.0850s on Tuesday. The lack of volatility could be due to many traders opting to stay on the sidelines ahead of the first big market mover for the week, the US Consumer Price Index (CPI) inflation data for March, scheduled for Wednesday.
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