The currency pair remains range-bound as traders await German HICP and US CPI reports for directional cues.
The EUR/USD pair traded sideways around the mid-1.1500 level during Wednesday’s Asian session, reflecting cautious sentiment ahead of critical inflation releases. The pair has remained within a narrow range for the past week, lacking momentum for a breakout.
Market participants are focused on upcoming German Harmonized Index of Consumer Prices (HICP) and US Consumer Price Index (CPI) data, which could influence monetary policy expectations for the European Central Bank and Federal Reserve. Recent prints have shown mixed inflation signals, contributing to the pair’s consolidation.
No immediate market reaction was observed, as traders await fresh catalysts from the economic indicators.