A refreshing upside surprise for euro-zone inflation: core inflation was upgraded from 0.7% to 0.8% y/y, while headline inflation remains at low bottom levels of 0.3% y/y. Headline CPI is likely to slide on lower oil prices. Core CPI depends on demand. EUR/USD rises above 1.28 in the immediate aftermath. Trade balance came out at 15.8 billion, better than 13.5 billion expected. Final numbers for September were expected to confirm the initial read of 0.3% y/y CPI inflation and +0.7% in core CPI. Both levels have been seen in the past, but never together. EUR/USD traded just under 1.28 towards the publication, slightly off the highs it shot to in the massive dollar sell off yesterday. Global gloom hit the US dollar and was triggered by worse than expected retail sales numbers. Stock markets also crashed and yields of developed countries tanked. Some see EUR/USD climbing to 1.31 while others are dollar bullish. Draghi vowed to battle low inflation and to do whatever is needed. Lower oil prices certainly serve as an excuse, but they are far from the only factor weighing on prices: the lack of growth has a bigger impact. Levels to watch are 1.2850, 1.28, 1.2750, 1.27 and 1.2660. For more, see the euro dollar forecast. 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. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Spanish auction falls short – debt crisis comeback? Yohay Elam 7 years A refreshing upside surprise for euro-zone inflation: core inflation was upgraded from 0.7% to 0.8% y/y, while headline inflation remains at low bottom levels of 0.3% y/y. Headline CPI is likely to slide on lower oil prices. Core CPI depends on demand. EUR/USD rises above 1.28 in the immediate aftermath. Trade balance came out at 15.8 billion, better than 13.5 billion expected. Final numbers for September were expected to confirm the initial read of 0.3% y/y CPI inflation and +0.7% in core CPI. Both levels have been seen in the past, but never together. EUR/USD traded just under 1.28 towards… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
