Forex
Euro Struggles to Break Above 100-Day SMA Ahead of US CPI Report
The euro is struggling to break above its 100-day simple moving average (SMA) against the US dollar as markets await the release of the US Consumer Price Index (CPI) report.
This key data point will provide clues on inflation trends, which could influence the Federal Reserve's next policy move and impact the euro-dollar exchange rate.
A hotter-than-expected CPI print may solidify the case for another rate hike, strengthening the dollar and pushing EUR/USD lower, while a cooler reading might revive hopes for a Fed pause, offering the euro a chance to reclaim the 100-day SMA.