The USD has been rangebound lately, even with a hawkish Fed. Markets are interpreting any “softer” data in favor of a Fed pivot, sending EURUSD up. However, a high CPI print tomorrow may send EURUSD down while the dust around US election settles. In the last month, EURUSD has trended higher trading in the range 0.97-1.01 as investors have shifted their focus towards the end of the Fed’s aggressive hiking cycle. Sentiment has also lifted EURUSD with the prospect of a divided US Congress while the expected Republican Red sweep seems not to have materialized, and a rumored Chinese reopening brightening the gloomy global ... (full story)