Posted 2/28/2024, 11:30:40 PM
EUR/USD Treads Water Around 1.08 Ahead of Key US and Eurozone Inflation Data
- EUR/USD continues to drift around 1.0800 level ahead of major US inflation data this week
- Mixed economic data from Europe and US results in familiar sideways price action for the pair
- Technicals show EUR/USD stuck below 200-day SMA and 1.0840 resistance on hourly chart
- US PCE inflation on Thursday and Eurozone CPI on Friday are main events that could spark volatility
- Pair remains down nearly 3% from December highs around 1.1140 amid broad USD strength in 2023 so far