EURUSD appears too dicey ahead of Eurozone, US inflation data

Global markets portray the typical pre-data inaction as traders prepare for the top-tier inflation clues from Europe and the US. Adding chains to the momentum are mixed concerns about China and fears of Japan's intervention.

With this, the US Dollar and the Euro both remain mostly inactive but NZDUSD cheers the absence of major disappointment from China and upbeat sentiment data at home. Further, AUDUSD also benefits from the cautious optimism in the Asia-Pacific region whereas USDCHF remains lackluster despite upbeat Swiss data.

USDCAD fails to cheer firmer Oil prices while Gold remains on the back foot at the lowest levels in three months.

Somewhere, BTCUSD and ETHUSD defend the previous day‘s recovery moves amid heavy long positions of major Bitcoin holders and one more addition to the list of BTC ETF filling list. Further, the UK’s passing of a bill to boost crypto adoption in Europe also underpins the upbeat performance of the key e-assets. However, the fears of strong US inflation and higher rates keep the bulls in check.

Following are the latest moves of the key assets:

• Brent oil rises for the third consecutive day to $74.80 by the press time.

• Gold price remains depressed after three-day downtrend, lackluster near $1,906 at the latest.

• USD Index also appears tepid around a two-week high marked the previous day, inactive near 103.30 as we write.

• Wall Street closed within positive territory but Asia-Pacific shares edged higher. That said, equities in Europe and UK are mildly bid of late.

• BTCUSD and ETHUSD print minor gains to around $30,700 and $1,880 by the press time.