EUR steady near 1.1760 on USD weakness – BBH
EUR/USD is holding firm near 1.1760 as softer USD and stabilizing Eurozone inflation underpin the single currency, with attention turning to Germany’s CPI release and Lagarde’s remarks, BBH FX analysts report.
Eurozone CPI data aligns with 2% ECB target
"EUR/USD is firmer near 1.1760 on USD weakness. Germany’s EU harmonized September CPI print is expected at 2.2% y/y vs. 2.1% in August (1:00pm London, 8:00am New York). Of note, the September EU harmonized CPI for France was 1.1% y/y (consensus: 1.3%) vs. 0.8% in August, Spain’s matched consensus at 3.0% vs. 2.7% in August and Italy’s rose to 1.8% y/y (consensus: 1.7%) vs. 1.6% in August. "
"Overall, Eurozone inflation is stabilizing at the ECB’s 2% medium-term target consistent with steady ECB policy and supportive of EUR. ECB President Christine Lagarde gives a keynote speech today (1:50pm London, 8:50am New York)."