The EUR/USD pair trades on a stronger note around 1.0710 during the early Asian trading hours on Monday.
EUR/USD gains ground 1.0710 amid the softer USD on Monday. The US PCE inflation rose by 2.7% YoY in March, compared to 2.5% prior, which was hotter-than-expected. The ECB might cut interest rates before the Fed amid thecoolerinflation in the Eurozone. The EUR/USD pair trades on astrongernotearound1.0710duringthe early Asian trading hours on Monday. The weaker US Dollar below the 106.00 markprovides some support tothemajorpair.
7% YoY in March, compared to the previous reading of 2.5%, above the 2.6% estimated.The Core PCE figure, the Fed's preferred inflation measure, held steady at 2.8% YoY in March, firmer than the 2.6% expected. On a monthly basis, both headline PCE and the core PCE Price Index rose 0.3% in March. Across the pond, the European Central Bank emphasizedcoolerinflation in the Eurozone and signaled that the ECB might cut interest rates before the Fed.
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