EUR/USD - Review from 30.08.2024

Preliminary inflation data from Germany, published on Thursday, showed a more significant decrease than expected, which could be a surprise for the entire Eurozone. However, today's news calendar is saturated with publications of various data for both the Eurozone and the United States.

Technically, as we assumed, the EUR/USD pair fell below the 1.1100 mark, even before the news was published. Significant volatility did not follow. Apparently, today's data on the personal consumption expenditure index in the US, which is the focus of the Federal Reserve, are in the spotlight. If the decline continues, potential movement targets and supports will be in the 1.1000-1.0900 range.