EUR/USD tracking lower again

The EUR/USD has not long ago hit a fresh session low at 1.1086. The move lower has come following the confirmation; that Eurozone prices are indeed falling back at a pretty rapid pace and that does pave the way for the ECB to not just cut rates next month, but perhaps a couple more times after that ahead of the year-end. The initial reaction to that HICP data seemed like it was absorbed and priced in near 1.11. However, since then and a slightly more decisive break below its 21 day moving average (now in place at 1.1105), the Euro has fallen back further. Of course the US ISM and JOLTS data could prevent a further fall, but we shall have to see what that data holds, at 2pm GMT. In the absence of that, the prospect of the ECB out-cutting the Fed (especially after the comments from Powell last night) is adding more traction to the downside right now. The EUR/USD is currently trading at 1.1086