EURUSD

This week, inflation data from the Eurozone is of critical importance for the EURUSD pair. Germany's June CPI came in at 0.0%, below expectations, which may put pressure on the Euro. The Eurozone's overall CPI, set to be released on Tuesday, is expected to rise to 2.0%, indicating that the ECB has reached its target, which could weaken expectations for interest rate cuts. On the US side, Fed Chairman Powell's speech and Thursday's Non-Farm Payroll data will determine the direction. While employment growth in the US is expected to drop from 139K to 120K and unemployment is anticipated to rise from 4.2% to 4.3%, this could lead to a depreciation of the dollar due to the perception that the Fed may bring forward interest rate cuts.