EUR/USD has recovered after two consecutive days of losses, approaching the 1.0930 level in the Asian trading session on Tuesday. However, the pair faced resistance amidst cautious market sentiment ahead of the release of US Consumer Price Index (CPI) data.
Market expectations suggest that the US CPI will increase from the previous month in February, although the annual rate is forecasted to remain unchanged. A strong CPI report could dampen the prospects of an imminent interest rate cut by the Federal Reserve, potentially strengthening the US Dollar (USD) and posing a challenge for the EUR/USD pair.
Market expectations suggest that the US CPI will increase from the previous month in February, although the annual rate is forecasted to remain unchanged. A strong CPI report could dampen the prospects of an imminent interest rate cut by the Federal Reserve, potentially strengthening the US Dollar (USD) and posing a challenge for the EUR/USD pair.
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