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Euro-zone inflation confirmed at 1.4% – EUR/USD stable

No surprises to rock the euro’s boat. Headline CPI is confirmed at 1.4% in October. Core CPI is confirmed at the low level of 0.9%, supporting a looser monetary policy.

EUR/USD is ticking lower, but it’s just a few pips, trading around 1.1770. The pair later faces some figures from the US: the Philly Fed Manufacturing Index, jobless claims, and import prices.

The euro-zone was expected to confirm a slowdown in price rises in October. The initial publication showed headline inflation standing at 1.4% and core inflation falling to 0.9%. The data was published after the ECB meeting, vindicating Draghi’s dovish tone there.

The ECB will reduce bond buys in January, slashing the volume from 60 to 30 billion euros per month. However, the central bank did not rule out extending the bond buys beyond the end-date of September 2018.

EUR/USD traded around 1.1775, finding some stability after a few more volatile days. Support awaits at 1.1670 and resistance at 1.1850.

More:  EUR/USD: stabilization and a rise? Two opinions

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.