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Forex

Forex Markets Hold Steady Ahead of Key Inflation Data Releases

Guavy AI Editorial Team
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EUR USD
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Forex markets have been relatively subdued this week, with the US Dollar (USD) holding steady near 99.00 as measured by the US Dollar Index (DXY).

The DXY is at 98.82, near its Tuesday's opening price, and has formed a 'doji' candlestick, indicating indecision among traders.

Investors are focusing on Thursday and Friday's PPI and CPI reports in the United States, which could impact inflation data and the overall market.

The EUR/USD has broken through the 1.1600 figure, boosted by US Dollar weakness, while the ECB's President Christine Lagarde is set to deliver a speech, with traders waiting for the European Central Bank (ECB) monetary policy meeting on September 10.

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