EURUSD: Euro slides after inflation data from Germany and Spain
Only a few days after the European Central Bank completed its longest interest rate bull run in 25 years last week by maintaining the key policy rate at 4%, the euro slipped 0.1% to 1.0554 as data indicated that inflation in the euro zone was declining.
Germany's most populated state, North Rhine Westphalia, saw a 3.1% year-over-year increase in consumer prices in October, down from a 4.2% increase the previous month, according to data released early on Monday.
In addition, the Spanish CPI increased by 3.5% annually, less than the 3.8% predicted, and by 0.3% in October, less than the 0.6% predicted.
Germany's most populated state, North Rhine Westphalia, saw a 3.1% year-over-year increase in consumer prices in October, down from a 4.2% increase the previous month, according to data released early on Monday.
In addition, the Spanish CPI increased by 3.5% annually, less than the 3.8% predicted, and by 0.3% in October, less than the 0.6% predicted.
Note
EURUSD SELL 1.0610 - 1.0600 🔽🔽✔️TP: 1.0580
🚫SL: 1.0630
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.