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EUR/USD Stalls Below 100-Day SMA Ahead of US CPI Release

Guavy AI Editorial Team
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EUR USD
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The EUR/USD pair has stalled below its 100-day Simple Moving Average (SMA) of 1.1567, as investors wait for the release of US Consumer Price Index (CPI) data on Wednesday.

Higher oil prices have revived inflation worries ahead of the release, with West Texas Intermediate (WTI) crude oil benchmark rising over 1.30% to $83.40 amid fears that a resolution to the Middle East conflict is further away than expected.

The Federal Reserve officials remain focused on price stability, with Chicago Fed President Goolsbee stating that inflation is the main economic issue, not industry or jobs.

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