EUR/USD Steady as Final Eurozone CPI Data Unlikely to Shift ECB Outlook

EUR/USD is trading in a narrow range during the European session as markets await the release of the final Eurozone CPI report for June. However, the data is widely expected to confirm preliminary readings, leaving little room for a market-moving surprise. The European Central Bank has already factored in the current inflation trajectory into its policy stance, making any significant deviation from expectations unlikely to alter the rate path. With no other major economic releases scheduled during the European session, trading volumes may remain subdued and price action confined to established ranges. Traders should note that the lack of catalysts during this session could lead to consolidation around current levels. Near-term support and resistance levels will be dictated by broader macro themes, including US data releases later in the day. Market participants are advised to monitor any revisions in the CPI components, as unexpected shifts in core inflation could briefly impact EUR crosses, though the overall sentiment remains neutral heading into the session.