The EUR/USD rises during the North American session, following the release of mixed inflation figures in the United States (US) and US President Donald Trump's threats to sue the Fed Chair Jerome Powell. At the time of writing, the pair edges up 0.50% at 1.1673.

Market mood remains positive with US stocks boosted by mixed readings on the Consumer Price Index (CPI). Although headline inflation was unchanged, underlying numbers exceeded estimates, though it was ignored by market participants, who had priced in over 90% chances of a rate cut by the Federal Reserve.

Following the figures, Trump slammed the Fed Chair Jerome Powell for being "TOO LATE" to cut rates and threatened to pursue a lawsuit against him, over the Fed building renovations.

In the meantime, a slew of Federal Reserve officials crossed the wires, led by the Kansas City Fed President Jeffrey Schmid, who was hawkish. The Richmond Fed President Thomas Barkin adopted a more neutral stance.

At the same time as Barkin crossed the wires, on CNBC, the Fed board Trump nominee Dr. Stephen Miran crossed the wires, and said that the Fed's independence is paramount, though he didn't speak further, as the Senate has not approved him.

Across the pond, the latest European Union (EU) ZEW Survey of Expectations for August plunged from 36.1 to 25.1. The figures in Germany deteriorated sharply in August due to the disappointing trade agreement reached with the United States and the declining economic output in Q2. Germany's ZEW Economic Sentiment fell from 52.7 to 34.7 in August, below forecasts of 39.8.

The US and EU economic docket will be busy on Wednesday. In the US, the Fed parade will continue as Fed Regional Presidents Thomas Barkin, Austan Goolsbee, and Raphael Bostic will cross the wires. The EU schedule will feature German and Spanish CPI on Wednesday.

Source: Fxstreet