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EUR/USD watching and waiting for US CPI report

In less than one hour now, the US will release their February Consumer Price Index (CPI) report and it could have a significant impact across all the markets, depending on what emerges there. Ahead of this the US equity futures are still all holding gains, buoyed by positivity and gains here in Europe. Those gains are still being led by the FTSE 100, as it rises above 7,750. Meanwhile, the dollar is still treading water in wider sense and in focus here is the EUR/USD. The failure to rise above 1.10 last week was disappointing for Euro bulls, but there is another chance this afternoon. Of course that is going to require a pretty low CPI print to deliver that. Naturally, a higher CPI print will only serve to disappoint those Euro longs even more. So, it is understandable, that the price action so far today has been entirely sideways, inside a tight range entirely covered by 1.0920 to 1.0940. The EUR/USD is just now trading at 1.0933 

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