Euro Stays Above $1.18 Level

Forex News

The euro remains stable against the US dollar. The EUR/USD pair is trading at 1.1829. Traders should be prepared for some movement from the pair at the North American session, as the US publishes reports on consumer price indices and retail sales.

The consumer price index (CPI), published by the Statistical Office of Germany (Destatis), on an annualized basis, increased by 1.8% in September, which coincided with the forecast of economists. On a monthly basis, the inflation rate increased by 0.1%, which also corresponded to the preliminary estimate.

The ECB is under pressure to tighten monetary policy, primarily from Germany, where the central bank calls for a more stringent policy, given the stronger economy of the Eurozone. It is expected, that the ECB will reduce its monthly bond purchases of 60 billion euros at its policy meeting on October 26.