The EUR/USD pair appears to have advanced to its highest level since late August, nearing 1.0900. The movement was attributed to the US dollar coming under significant selling pressure following the October inflation data. The Consumer Price Index (CPI) dropped to 3.2% in October from 3.7% in September, prompting investors to speculate that the decline in inflation could potentially cause the US Federal Reserve to reverse its policy in the second half of the next year.
However, the pair edged slightly lower but managed to stabilize above 1.0850, and the market will be closely monitoring the October Retail Sales and Producer Price Index data from the US for potential impact.
However, the pair edged slightly lower but managed to stabilize above 1.0850, and the market will be closely monitoring the October Retail Sales and Producer Price Index data from the US for potential impact.