EUR/USD still below 1.1100 post-CPI

The shared currency remained apathetic after the release of German inflation figures, with EUR/USD hovering over the 1.1090 area.

EUR/USD muted on CPI

The pair has barely reacted after German flash consumer prices have come in higher than initially estimated for the current month, showing the CPI is expected to rise 0.3% inter-month and 0.4% over the last twelve months.

The broader HICP measure has followed suit, with prices expected to rise 0.4% MoM and 0.4% on an annualized basis.

Across the pond, US Initial Claims and June’s Trade Balance figures are due later in the NA session, amidst a persistent offered bias around the buck.

EUR/USD levels to watch

The pair is now gaining 0.27% at 1.1090 facing the initial hurdle at 1.1166 (high Jul.14) followed by 1.1184 (high Jul.5) and then 1.1253 (base of the 7-month rising channel). On the flip side, a breakdown of 1.0950 (low Jul.25) would target 1.0913 (post-Brexit low Jun.24) en route to 1.0820 (low Mar.10).