EURUSD: Euro slides after inflation data from Germany and Spain

31 Eki 2023

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.

31 Eki 2023

Not

EURUSD SELL 1.0610 - 1.0600 🔽🔽

✔️TP: 1.0580

🚫SL: 1.0630