Session Recap: EUR recovers on CPI figures

FXStreet (Edinburgh) - The single currency is recovering the 1.1230 handle after bottoming out around 1.1160 vs. the US dollar on Monday. The current bull run is bolstered by the higher-than-expected CPI figures in the euro area during February, eclipsing the mixed results from manufacturing PMIs. Collaborating with the better tone in the risk-associated universe, the greenback remains unable to sustain further gains following last Friday’s steep climb.

In another tone, the sterling is navigating session lows in sub-1.5400 levels in response to disappointing results frim UK’s Consumer Credit, Mortgage Approvals and Net Lensing to Individuals; on the bright side, the manufacturing PMI improved to 54.1 during February, surpassing both consensus and January’s print.

Ahead in the session, US ISM Manufacturing, Markit’s PMI and Personal Income/Spending will set the pace of the USD in the very near term.