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CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved.

EUR/USD under pressure at 1.10 ahead of German inflation data

EUR/USD has dragged itself back above 1.1000 levels after hitting a low of 1.09924, but the currency is expected to fall below this crucial support level, dependent on German inflation data.

USD/EUR Source: Bloomberg

EUR/USD sentiment remains depressed this week, with the currency pair managing to drag itself back above the 1.1000 support level after hitting a low of 1.09924 on Wednesday.

How long the currency pair can stay above that critical support level remains to be seen. However, with upcoming German inflation data expected to show price pressures easing in November, the euro could find some much-needed support.

German CPI this month is expected to fall to -0.06 from 0.1% last month. But if the data misses expectations the euro slide further.

The IG Client Sentiment shows that traders are 57% net-long EUR/USD, giving us a bearish contrarian bias.

Looking to trade EUR/USD and other currency pairs? Open a live or demo account with IG.

USD strengthened by US-China trade deal optimism

The dollar has been buoyed against the euro by the prospect of a deal between the US and China which would bring an end to the ongoing trade dispute by world’s two largest economies.

The greenback also has seen gains against the yen, with the currency moving towards three-week highs at 7.03448.

Dollar sentiment has improved since US President Donald Trump stated that the trade deal with China is in its ‘final throes’ earlier this week.

You can go long or short EUR/USD with IG using derivatives like CFDs.


The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer.

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