The EUR/USD pair pulled back on Monday after the positive outcome of Brexit negotiations between the UK and the EU.
The new deal on Northern Ireland provided relief even as concerns about the Federal Reserve and the European Central Bank remained. It rose to a high of 1.0610, the highest point since Thursday.
The EUR/USD pair rose after the relatively weak consumer and business confidence data from the UK. services and industrial sentiment pulled back to 9.5 and 0.5, respectively. Similarly, business and consumer survey declined from 99.8 to 99.7 as inflation remained at an elevated level. Consumer confidence remained intact at -19.0.
The key economic numbers to watch on Tuesday will be the preliminary inflation numbers from key European countries like France and Spain. In France, analysts expect the data to show that the headline consumer inflation rose by 6.1% in February. Similarly, in Spain, analysts expect that inflation rose to 5.9%.
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