This post was originally published on this site.EUROPEAN SESSION In the European session, we get the final services PMI for the major Eurozone economies and the UK. The data won’t change anything for the respective central banks, so the market reaction will likely be muted. The main highlight is going to be the Eurozone CPI report. Headline CPI Y/Y is expected at 4.0% vs 3.8% prior, while the Core CPI Y/Y is seen unchanged at 2.5%. The ECB has signalled that it’s ready to hike again if the inflation outlook were to deteriorate and the markets are already pricing in...

This post was originally published on this site.There are a few key expiry levels to take note of on the day, as highlighted in bold below. The first one is for EUR/USD at the 1.1250 level, with the strike currently keeping within 30 pips of the spot price. Amid the US midterm election results, we are seeing the dollar soften across the board and that has allowed EUR/USD to come up for some air above the 1.1200 mark. So, that opens up a bit of room for buyers to work with but there is still some key resistance from the...