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Euro zone inflation rose to 2% in October from 1.7% in September, above the 1.9% forecast. Core inflation held at 2.7% and services inflation at 3.9%, weakening the case for a larger ECB rate cut.
Stickier euro zone inflation reduces the chance of aggressive ECB easing, which supports the euro and slightly weakens the dollar, affecting import costs for dollar-priced feed commodities.
cnbc.comJenni ReidOct 31, 2024After 388 past bullish macro events, Euro (USD per EUR) moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), and +0.1% over 20.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
