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2026-11-04 17:50:25
[ING: Focus on Eurozone Core Inflation, Euro Expected to Trade in Short-Term Range] ⑴ ING stated that the euro is retreating from its overnight high of 1.1260 against the dollar and is expected to follow the trend of technology stocks today. If technology stocks come under pressure again, it could push the euro higher against the dollar. ⑵ The bank believes that the 1.1260-1.1270 area is currently the top of the short-term trading range. ⑶ Today's focus is on the preliminary reading of the Eurozone's October Consumer Price Index (CPI). Energy prices are expected to drive the overall year-on-year increase to 4.0%, while core inflation is expected to remain stable at 2.5%. ⑷ The bank pointed out that an unexpected upward movement in core inflation should be beneficial for the euro, and short-term euro swap rates will rise, as the market believes that the ECB needs to take more than just insurance rate hikes.
