The EURUSD pair is trading in a tight range ahead of the Tokyo open near to 1.1610. The pair fell from 1.1645 to 1.1610 overnight and remains capped by the 4-hour 10/20 EMA bearish crossover. The downside came from the dollar steadying on Monday afternoon after bouncing off a one-month low. Traders now look ahead to key data events for the week ahead, including the European Central Bank meeting this Thursday.
For today, Investors are expecting the Aussie inflation readings. It will be a quieter day for economics whereby we will see markets focused on US New Home Sales and a speech by the ECB’s Villeroy on Tuesday. The larger event, however, will be the ECB that meets this week and comments from the bank could shift views on how many inflationary pressures could impact interest rates.
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