EURUSD

The EURUSD pair is at a pivot level of 1.17103. Resistance: 1.17355-1.17711-1.17937; Support: 1.16936-1.16721-1.16359. Today, Germany's CPI (expectation 0.0%) and US unemployment claims (expectation 236K) will be monitored. A lower than expected CPI in Germany could pull the pair down with expectations of an earlier rate cut from the ECB. Weak US data could create upward momentum with the perception that the Fed might bring forward rate cuts. The FOMC minutes released yesterday indicated that Fed members are divided on rate cuts in 2025, with some members believing that no cuts may happen at all.