Euro Stalls Below 100-Day SMA Ahead of US CPI Release

The Euro has stalled below its 100-day Simple Moving Average (SMA) as investors await the release of the US Consumer Price Index (CPI) on Wednesday.

Higher oil prices have revived inflation worries ahead of the US PPI release, and Federal Reserve officials remain focused on price stability, with Chicago Fed President Goolsbee stating that 'the main economic issue is inflation, not industry or jobs'.

The EUR/USD trades at 1.1541, just below the 100-day SMA of 1.1567, and market participants are bracing for the potential impact on US monetary policy.