German HICP figures weigh on the Euro, pushing EUR/USD to a third straight day of losses in European trading.
EUR/USD declined to 1.1540 during European hours Wednesday, extending losses for a third consecutive session. The drop follows softer-than-expected German Harmonized Index of Consumer Prices data, which weakened the Euro against the US Dollar.
Prior to the release, the pair had shown resilience near 1.1600, but inflation figures fell short of market expectations. Germany’s HICP is a key indicator for Eurozone monetary policy, often influencing the European Central Bank’s outlook.
Traders are now assessing whether the data signals broader economic softness in the Eurozone, potentially delaying further ECB tightening.