EUR/USD seen rangebound as traders await US CPI and US-Iran developments
The European session has no scheduled economic releases today, so price action may stay mostly rangebound. The source reports no price moves, pip figures or technical levels. Traders are looking ahead to Wednesday's US CPI report, a key inflation reading for the dollar, and to further developments between the US and Iran. Market sentiment improved somewhat on Friday after President Trump ruled out strikes on Iran before the November elections. That support is tempered by Iran's statement yesterday that the US response to its proposal to reopen the Strait of Hormuz was insufficient. With no catalysts on the calendar, traders may see limited directional conviction in the near term. Headlines on US-Iran negotiations and the Wednesday CPI release are the main potential sources of volatility for USD pairs.
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