EUR/USD Holds Steady Above 1.1100 Ahead of Key U.S. Inflation Data
EUR/USD opened with a bullish gap on Tuesday, trading close to the 1.1110 level following a challenging session that saw a drop of over 2.5% previously. The currency pair is facing headwinds as the U.S. Dollar (USD) strengthens due to favorable developments in U.S.-China trade negotiations. As traders brace for forthcoming U.S. inflation data, market sentiments remain mixed. Analysts recommend closely monitoring market reactions to these critical reports as they may evoke significant movements in the EUR/USD pair in the coming sessions. Being adaptive during this volatile atmosphere will be crucial for traders aiming to capitalize on potential opportunities.
