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EUR/USD Daily Forecast – 31 October

Monday, Oct 30 2017
EUR/USD Daily Forecast – 31 October

Focus of the yesterday's session was on German CPI and Spanish CPI figures. The inflation rate in Germany as measured by the consumer price index is expected to be 1.6% in October 2017. Based on the results available so far, the Federal Statistical Office (Destatis) also reports that the consumer prices are expected to remain unchanged from September 2017.

Earlier today, Spanish CPI figures were released. According to the flash estimate issued by the INE, the annual inflation of the CPI in October 2017 is 1.6%. This indicator provides a preview of the CPI that, if confirmed, would imply a decrease of two tenths in the annual rate, since in September this change was 1.8%. This behaviour highlights the increase in prices of fuels (diesel and gasoline/petrol) lower than that of October 2016. In turn, the annual variation of the flash estimate of the HICP in October stands at 1.7%.

 

Tomorrow's session will bring Eurozone CPI figures. Analysts forecast no change. In the US session Consumer Confidence figures will be published. Incline to 121.1 is anticipated.

 

Figures to watch:

 

CPI Flash Estimate (Tuesday 11:00)

CB Consumer Confidence (Tuesday 15:00)

More in this category: « GBP/USD Daily Forecast – 31 October AUD/USD Daily Forecast – 01 November »

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