The euro is trading at less than 130.00 against the US dollar today (USD).

It follows closely behind Friday’s Harmonized Consumer Price Index.

Germany’s harmonized index of consumer prices for August came in at 3.4 percent, which was in line with expectations of economists and the month before data.

The Statistical Office of the European Union released the Harmonized Consumer Price Index (HCPI), based on a measurable system that blended overall EU part states. HCPI is a proportion of costs to characterize and evaluate value steadiness in the euro region, all in quantitative terms.

Another news that might further depreciate the EUR/USD currency pair is the Financial Management Service of the United States, which will release the Monthly Budget Statement on September 13, 2021.

Economists suggest that it might increase the index from the month before.

The Monthly Budget Statement highlights federal entities’, disbursing officers, and Federal Reserve banks’ financial activity. A positive budget statement indicating that receipts surpass budgetary outlays is optimistic for the dollar.

Whereas, with the backend of many support levels, the price of the EUR/USD currency pair might be able to protect itself from further falling.

Conclusion

Even though the EUR/USD condition is better from the past, we must not forget its volatile run of the EUR/USD pair. The pair can confront the market’s forthcoming difficulties, so putting resources into the EUR/USD currency pair is not an impractical notion for the long-standing spot holders.