Inflation data in Germany

Preliminary data on the consumer price index in Germany did not meet the expectations of the market and amounted to 0.0%, the forecast is 0.1%. The slowdown in the growth of this indicator turned out to be very negative. It indicates a slowdown in the growth of inflation, which was traced in late summer.

As a result, such a weak statistics on Germany can be regarded as a fundamental factor to the resumption of the downward dynamics of the euro. Expectations for the EUR/USD pair https://esterholdings.com/en/2017/10/30/eur-usd-today-215/. Regarding the euro index, it is not so clear, as the euro index against the main basket of world currencies found support at the level of 93.30-20. It will be difficult to break this level without significant correction to sellers. The psychological support level is 93.00.

Hanzenko Anton