Today we anticipate important news from the both sides of Atlantic: October CPI of Eurozone and Industrial Production in USA.
Consumer Prices index measures changes in the price level of a market basket of consumer goods and services and it is the main indicator of the inflation in the country. According to the forecasts the index may drop down to the level of 0.7%. Inflation in Europe has been decreasing almost a year now, so this data may strengthen Euro.
In USA Industrial Production data will be published today. This index measures the output of industrial sector of economy. Experts predict that the indicator will decrease by 0.4% in 4th quarter, which is much comparing to the rise in third quarter. Wholesale inventories are also growing, menacing further reduction of industrial production volumes.
Regarding fundamental data, we expect Euro to strengthen against its opponents and the pair EUR/USD to rise up to 1.3485 and 1.3530.
Analyst of LiteForex Group of CompaniesPublication source