EURUSD :Consumer prices in Europe rose by 4.3% in September 2023
Updated
After yesterday's sharp rise in the euro, not much has changed today. European Central Bank (ECB) policymakers are expected to decide not to raise interest rates for the first time in more than a year when they meet in Athens on October 26.
As a result, despite the deteriorating economic outlook, inflation has begun to decline since the outbreak of conflict in Ukraine in early 2022.
Consumer prices in Europe rose by 4.3% in September 2023, the lowest level in almost two years. That figure is still well above the ECB's 2% target, but the pain of rate hikes is becoming more pronounced. The outbreak of the conflict between Israel and Hamas has further increased the potential problems for the euro zone economy, which has already weathered the effects of the conflict in Ukraine.
The ECB is also expected to follow the lead of the US Federal Reserve and suspend interest rate hikes for the time being.
As a result, despite the deteriorating economic outlook, inflation has begun to decline since the outbreak of conflict in Ukraine in early 2022.
Consumer prices in Europe rose by 4.3% in September 2023, the lowest level in almost two years. That figure is still well above the ECB's 2% target, but the pain of rate hikes is becoming more pronounced. The outbreak of the conflict between Israel and Hamas has further increased the potential problems for the euro zone economy, which has already weathered the effects of the conflict in Ukraine.
The ECB is also expected to follow the lead of the US Federal Reserve and suspend interest rate hikes for the time being.
Comment
EURUSD SELL 1.0680 - 1.0690 🔽🔽✔️TP: 1.0660
🚫SL: 1.0620
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