Dollar recovers ahead of Powell speech, French elections outcome

EURUSD remains on the backfoot on Tuesday, slightly above 1.0700, as the major currency pair comes under pressure due to expected decline in the preliminary Eurozone HICP data for June. The annual Harmonised Index of Consumer Prices decelerated to 2.5%, as expected, year-on-year from May’s reading of 2.6%. In the same period, the core HICP, which excludes volatile components like food, energy, alcohol and tobacco, grew steadily by 2.9%. Investors expected the underlying inflation to have declined to 2.8%. Core inflation measure rose at a steady pace due to sticky service inflation. Price pressures in the service sector rose in line with

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Dollar recovers ahead of Powell speech, French elections outcome

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