Euro gives up gains ahead of US, Eurozone data
The EURUSD pair is struggling to hold above the round-level resistance of 1.0700 in European trading as investors await key economic indicators in the Eurozone, including preliminary Q1 GDP and CPI data. ECB policymakers have differing opinions on interest rate cuts, with some expecting cuts to start in June and potentially continue at a pragmatic pace, while others are concerned about higher service inflation and are not convinced that inflation will return to target in a timely manner. In Monday’s session, investors focused on German preliminary inflation data for April.
