EUR/USD Holds Higher as Softer Dollar Offsets Subdued Germany's Wholesale Data
The euro held higher against the US dollar on Tuesday as a softer greenback offset Germany's weaker wholesale price data, with annual wholesale inflation easing to 4.9% in June from 5.9% in May, while traders awaited the US CPI report and Federal Reserve Chair Kevin Warsh's congressional testimony, due later in the day. In Tuesday's G10 trading, the euro remained mostly bearish among other currencies. The next mild highlight for the euro will be the industrial production for May, due on Wednesday. The EUR/USD pair was trading at 1.14064, with a 0.23% gain during Tuesday's American session at the time of writing.
Story updates
The Australian dollar held higher against the US dollar on Tuesday after Australia's Westpac Consumer Sentiment Index rose 4.1% to 83.9 in July, while NAB Business Confidence improved to -5 in June from -14, supporting the Aussie ahead of US inflation data later in the day.
In Tuesday's G10 trading, the AUD showed mixed performance among other currencies.
The next high-impact release for the Aussie will be the Consumer Inflation Expectations for July, due on Thursday.
For the USD, the major events will be the inflation data for June and testimony of Federal Reserve Chair Kevin Warsh, due later on Tuesday.
The AUD/USD pair was trading at 0.69436, with a 0.38% gain during Tuesday's American session at the time of writing.