Eurozone Inflation Data Takes Center Stage Amid US Market Volatility
The first trading day of September saw financial markets remain relatively subdued as investors' attention shifts to preliminary August inflation readings from the Eurozone and mid-tier macroeconomic data releases from the United States.
The US Dollar Index closed in negative territory on Monday, erasing a small portion of the previous week's gains. US Treasury Secretary Scott Bessent told CNBC that core inflation has remained 'very restrained' and argued that traditionally interest rates shouldn't be raised into a supply shock.
US President Donald Trump said interest rates are too high, adding he has a lot of respect for Fed Chair Kevin Warsh and that he will know what he has to do. The USD Index clings to marginal gains at around 99.50 in the European morning on Tuesday.