- EUR/USD targets 1.18 .
- Final German CPI ticked 0.1% higher MoM & ticked -0.2% lower YoY.
- ECB online Forum in focus
The Euro rebounded in the latter part of the week lifting EUR/USD towards1.18..
EUR/USD looks to ECB
EUR/USD is bouncing attempting to pare weekly losses to push above 1.18 as risk sentiment improves putting pressure on the greenback.
Rising coronavirus cases and fresh lockdown restrictions by many countries cast doubts over the economic growth outlook.
Looking ahead, attention will be on the now online ECB Forum on Central Banking . ECB’s Lagarde will share a discussion panel with Chief Powell and BoE’s Bailey.
October CPI in Germany was in line with the preliminary print, up 0.1% MoM and declining -0.2% YoY.
In the US, October’s CPI inflation figures weekly jobless Claims and the EIA’s report on crude oil stockpiles are due, plus FOMC’s Evans and Williams are due to speak.