EURUSD | Market outlook

EUR demonstrates flat trading dynamics against USD during the Asian session, consolidating near new local lows since July 23, 2020, updated the day before. The instrument trying to go into corrective growth after a whole week of failures. One of the factors that would contribute to the recovery of EUR may be statistics from the eurozone on inflation. Analysts expect the September consumer price data to show moderate growth from 3% to 3.3%, raising hopes for possible monetary tightening by the European Central Bank (ECB) in the foreseeable future. The data released yesterday in Germany turned out to be ambiguous. The Unemployment Rate in the country remained at 5.5% in September, while the Unemployment Change fell by 30K (in August, the decline was 53K). At the same time, the Consumer Price Index showed zero dynamics in September, while the annualized Harmonized Index of Consumer Prices accelerated from +3.4% to +4.1% YoY.