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EURUSD price action lays the groundwork for its rally, the progress hinges on US CPI update
EUR/USD displayed resilience last week, closing positively for the fourth consecutive day, though ultimately ending the week virtually unchanged. Despite an initial surge to the 1.0800 mark, marking a one-week high, the pair succumbed to downward pressure during the European session, largely influenced by deficit of medium-term buyers. Uncertainty around forthcoming US CPI release, with risks skewed towards an upside surprise, holds back buying activity. The Federal Reserve is positioned to maintain higher interest rates for an extended period, providing underlying support to the Greenback. If US inflation rate ... (full story)