FXStreet (Edinburgh) – The European currency keeps the soft note today, with EUR/USD hovering over session troughs around 1.0870.
EUR/USD muted on German data
Spot paid little-to-none attention to the release of the final figures for the German CPI during December, showing consumer prices matching the advanced prints and contracting 0.1% MoM and rising 0.3% over the last twelve months. The broader HICP rose 0.2% on a yearly basis and has come in flat inter-month.
As markets get ready for the ZEW Survey, the offered tone remains firm around EUR in a context where the risk appetite is feeling more comfortable so far.
EUR/USD levels to watch
The pair is down 0.29% at 1.0867 and a break below 1.0798 (61.8% Fibo of 1.0538-1.1059) would aim for 1.0709 (low Jan.5) and then 1.0538 (low Dec.3). On the upside, the next hurdle aligns at 1.0987 (high Jan.15) followed by 1.0997 (100-day sma) ahead of 1.1059 (high Dec.15).
(Market News Provided by FXstreet)