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EUR/USD waits on European inflation and jobs data at 10am GMT
The EUR/USD is right now very much in mid-range, as it awaits some important Eurozone inflation data. The October flash HICP inflation report will be released at 10am GMT and it is expected to show mixed readings across the core and non-core annualised rates. The non-core rate is forecast to rise to 1.9% from 1.7%, but the core rate is forecast to fall to 2.6% from 2.7%. We also get the latest Eurozone unemployment rate, expected at 6.4%, but that rarely deviates from forecasts. The EUR/USD is pretty much where it has been all morning, holding at, or just below 1.0860 right now and still below the noted and important 200 day moving average, at 1.0869.So, will this Eurozone data deliver a move? We shall see on that shortly, but in truth the deciding factor on that is just as likely to be whatever month-end dollar demand (or lack of it) remains in place ahead of the monthly close later today.
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