Forex
EUR/USD Flat Ahead of US CPI Data Release
The EUR/USD pair is trading flat near 1.1550 as investors wait for the release of US Consumer Price Index (CPI) data to determine the direction of the US Dollar.
Concerns about the fate of the US-Iran peace process are weighing on the Euro, with reports of attacks on vessels attempting to cross the Straits of Hormuz and Bab el-Mandeb casting doubt about the resumption of free sea traffic in the Gulf region.
The German Harmonised Index of Consumer Prices (HICP) confirmed preliminary figures pointing to an acceleration to a 2.8% year-over-year rate in July, from 2.4% in June, as energy inflation jumped to 7.3%, from 2.7% in the previous month.