The EUR/USD pair struggles to gain following the choppy action on Friday. The major hovers around 1.0710 during the early Asian session on Monday. The
Upbeat US data lends support to the higher for longer interest rate narrative in the US.
Economists anticipate the European Central Bank to hold interest rates unchanged at September’s meeting. Thepair struggles to gain following the choppy action on Friday. The major hovers around 1.0710 during the early Asian session on Monday. The US Dollar snapped its eighth-week winning streak on Friday as the markets turned cautious ahead of the key inflation figure this week.
About the data, the US Initial Jobless Claims totaled 216,000 in the week ending September 2. This figure came in better than the market consensus of 234,000 and followed the previous week's revised figure of 229,000 . Market participants will take more cues from the USOn the other hand, the data released by Destatis on Friday revealed that the German Harmonised Consumer Price Index for August came in at 6.4% YoY, as the market expected whereas the core CPI remained unchanged at 6.1%.
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