EUR/USD remains under pressure, closing below 1.1350 for the second straight day as the currency fails to capitalize on higher-than-expected inflation data from major Eurozone economies.
Euro slipped despite hotter inflation in major Eurozone economies, closing lower for second straight day under 1.1350.
The Euro failed to gain momentum despite September inflation prints exceeding forecasts across Germany, France, Italy, and Spain. The currency pair closed lower for the second consecutive session, remaining firmly below the 1.1350 threshold as market sentiment turns bearish.
While higher inflation typically supports currency strength by signaling potential ECB rate hikes, the Euro failed to gain traction, suggesting that market participants are prioritizing other bearish factors or technical resistance levels below 1.1350.