The main currency pair is trading to the upside on Monday; the inflation in the Eurozone matched expectations.
On Monday, the EUR/USD pair is rising after rebounding from last week’s sales. Today’s growth doesn’t break the descending channel formed earlier, so far it’s just a technical rebound. The current quote for the instrument is 1.1002.
Today’s statistics indicated that the inflation in the Eurozone in September added 0.4% y/y after 0.2% in August. The core CPI, excluding fluctuations in prices of food products and excise goods, increased by 0.8% y/y last month and matched expectations.
The inflation situation in the countries of the Eurozone remains complicated. For instance, in September the CPI was negative in 10 counties of the European Union. Low prices of energy products are still making a tangible contribution to the European inflation, but as time passes, their influence is getting weaker than earlier.
Investors will carefully follow the comments of the European regulator during the ECB meeting, which is planned later this week, on October 20th
. Judging by the market rumors about the QE program duration, this is exactly what makes market players curious: how long the program is going to last or it might be closed suddenly ahead of time.
RoboForex Analytical Department
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