GBP/EUR: Euro Rallies vs. Pound As Italy Seeks To Avoid Debt Crisis
  • EUR/USD under pressure at 1.18
  • German Economic Sentiment slumped to 56.1 in October.
  • US inflation data up next.

The Euro is out of favour  dragging EUR/USD to  1.1800 on Tuesday.

EUR/USD  looks ahead to EU Summit

EUR/USD extends losses after the recent upswing failed to push beyond 1.1830 on Friday, amid cautious trade.

The absence of a US fiscal stimulus package and stalling negotiations for such a package have dragged on risk sentiment, as has news that Johnson & Johnson  paused its COVID-19 vaccine candidate  trial.

The ZEW German Economic Sentiment survey slumped to 56.1for October, missing forecasts

In the US docket September’s inflation figures gauged by the CPI will be in focus.