The US Bureau of Labor Statistics (BLS) will publish the May Consumer Price Index (CPI) data on Wednesday. The report is expected to show another step up in consumer inflation, driven by the persistently high Oil prices due to the ongoing crisis in the Middle East.
The EUR/USD pair loses momentum to near 1.1540 during the early Asian session on Wednesday. Renewed tensions in the Middle East following the US attack on Iran drag the Euro (EUR) lower against the US Dollar (USD).
The AUD/USD pair falls to near 0.7040 on Tuesday, as the Australian Dollar (AUD) failed to gain support from stronger-than-expected Chinese trade data released earlier in the Asian session.