- EUR/USD remains under pressure sub 1.1800.
- US politics & covid pandemic under the spotlight
- ECB-speak, EZ’s Industrial Production next up
EUR/USD hovers around the flatline at 1.1740 reversing earlier decline to multi-day lows near 1.1730 on Wednesday.
EUR/USD is extending losses for the third consecutive Wednesday moving further from the 2-week high of the 1.1830 area (October 9).
The downtrend remains as risk aversion from US political uncertainty and stalling economic recovery in the eurozone plus the relentless advance of covid and its impact on the global economy.
The Eurozone’s September’s Producer Prices data is up next. Spanish inflation figures rose 0.2% MoM in September and contracted -0.4% year on year. In addition, ECB’s C.Lagarde will speak later followed by 4 other board members.
US Producer Prices for September is the only release in the US along with the weekly API crude oil inventories report
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