The EUR/USD pair trades marginally higher on Monday as investors gear up for a batch of first-tier events while assessing Middle East developments.
EUR/USD Current Price: 1.0606 German inflation rose less than anticipated in October, Q3 GDP beat expectations. European Central Bank is far from considering rate cuts as hikes remain on the table. EUR/USD is poised to extend gains, needs to break through 1.0640. On Friday, financial markets were optimistic amid Qatar´s diplomatic intervention in the Israel-Hamas war.
Also, he made a point about rate cuts, noting that bets happening in the first half of next year are entirely misplaced. Finally, Germany unveiled the preliminary estimate of the October Harmonized Index of Consumer Prices , confirmed at 3% YoY, easing from 4.3% in September and below the 3.6% anticipated. The United States macroeconomic calendar will only offer the October Dallas Fed Manufacturing Business Index, previously at -18.1.
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