Euro Keeps Rising Awaiting US CPI Report

Forex News

The euro remains stable versus US dollar today. The euro/dollar pair added 0.10% to trade at 1.1330 level. The single currency expects the release of the US CPI report, which could influence further moves of the EUR/USD pair.

Consumer prices in the US are expected to have risen 0.1% last month, according to estimates, cooling from October's 0.3% gain. On a yearly base, CPI is projected to climb 2.2%, down from 2.5% a month earlier. Excluding the cost of food and fuel, core inflation prices are forecast to have gained 0.2% last month and 2.2% over the prior year.

Eurozone industrial production grew in October after a slump in the previous month. Industrial production in the euro area rose 0.2% from September, when it declined 0.6%, which was revised from 0.3%. The growth was in line with economists' expectations. On an annualized basis, Eurozone industrial production grew 1.2% in October, following a 0.8% rise in September, which was revised from 0.9%. Economists were looking for 0.8% growth.