The EUR/USD pair posts modest gains around 1.0860 during the early Asian session on Tuesday.
EUR/USD trades in positive territory near 1.0860 on the weaker USD on Tuesday. The US March CPI data on Wednesday could provide some hints about inflation trajectory and rate cut expectations. The ECB is anticipated to keep its Main Refinancing Operations Rate unchanged at 4.5% at its April meeting on Thursday. The decline of the US Dollar provides some support to the major pair.
The stronger-than-expected figure in March data could dampen expectations for rate cuts in June, while softer inflation figures could fuel speculation for rate reductions. Across the pond, the European Central Bank’s interest rate decision will be in the spotlight on Thursday. The ECB is widely expected to keep interest rates unchanged at its April policy meeting. Data released last week indicated that inflation fell unexpectedly in March, raising the expectation for ECB rate cuts.
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