EUR/USD Steady Ahead of US Inflation Data and ECB Rate Decision

The EUR/USD pair remains steady above 1.1600 as markets wait for key US inflation data and the ECB rate decision.

The European Central Bank (ECB) is expected to raise its benchmark rates at its September meeting on Thursday, with traders pricing a nearly 60% chance of a Federal Reserve (Fed) rate hike this month following last week's Nonfarm Payrolls (NFP) report.

Economists expect August's inflation report to show a slight monthly acceleration, driven by global energy pressures, which could lift the Greenback and create a headwind for the pair.