EUR/USD loses traction near 1.0500, investors await Eurozone CPI, US GDP data

The EUR/USD pair loses momentum around 1.0500 during the early Asian session on Thursday. The selling pressure of the major pair is supported by the f

German Consumer Sentiment fell to -26.5 in October from -25.6 in September.Traders will monitor Eurozone CPI, US GDP due later on Thursday.

Across the pond, the US Census Bureau revealed on Wednesday that US Durable Goods Orders improved in August, climbing 0.2% m/m from the previous reading's 5.6% fall, compared to estimates for a 0.5% m/m drop. Furthermore, Durable Goods Orders Excluding Transportation rose by 0.4% m/m, above the 0.1% gain anticipated. Core capital goods orders grew 0.9% from the previous month's figure of 0.4%, above the market estimate of 0%.

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