EUR/USD recovers some lost ground near 1.0880 ahead of German PPI

The EUR/USD pair gains modest ground around the 1.0880 mark heading into the European session on Monday. Market participants await the German Producer

The easing Eurozone inflation data alleviated pressure on the European Central Bank to continue rates hike.Traders await the German PPI data, the highlight this week will be Fed Chairman Jerome Powell Speaks.gains modest ground around the 1.0880 mark heading into the European session on Monday. Market participants await the German Producer Price Index due later in the day. The monthly figure for July is expected to rise by a 0.2% decline while the annual figure is expected to a 5.1% drop.

The easing Eurozone inflationary pressure, according to data released by Eurostat on Friday, alleviates pressure on the European Central Bank to continue raising interest. This, in turn, leads to the weakness in the Euro against its rivals and acts as a headwind for the EUR/USD. Across the pond, investors raise their bets on additional rate hike by the Federal Reserve despite the robust labor data and weaker inflation data. However, investors will take cues from the Federal Reserve Speaks on Friday. The speech could provide clues about economic conditions and indications of whether the inflation is under control or additional interest rate increases are required to curb inflation.

Market players await the German Producer Price Index data later in the European session. Later this week, the US Existing Home Sales Change MoM for July will be released on Tuesday. Also, the S&P PMI data from both Eurozone and the US remains in focus. Market players will shift their focus to the Fed Chair Powell Speaks on Friday. This event could trigger

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