There’s been some selling seen in the EURUSD in recent trade with the world’s most popular FX pair falling below the 1.09 handle to trade at its lowest level since May 2017. A potential catalyst for this decline was the release of the latest German inflation figures with the harmonized reading come in below forecasts:
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German harmonized CPI M/M: -0.1% vs 0.0% exp
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German harmonized CPI Y/Y: +0.9% vs -1.0% exp
The forthcoming US session has the Chicago PMI as the main event (2:45PM BST) with there being several other key economic releases that could impact this pair in the coming days, culminating in Friday's NFP.
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