# EUR/USD - Eurozone inflation eases further than expected, US ECI a minor concern | MarketPulse by OANDA Group

> Eurozone headline inflation fell to 2.9% in October, below the 3% level and below expectations. US employment cost index rose 1.1% in Q3, slightly above forecasts, which pushed the euro lower against the dollar.

- Date: 2023-10-31 · published 2023-10-31T12:00:00.000Z
- Category: macro · region Europe · magnitude low
- Page: https://feedsoft.ai/events/33840-eur-usd-eurozone-inflation-eases-further-than-expected-us-eci-a-minor-concern
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Softer euro inflation raises expectations of earlier ECB easing, while a firmer US labour-cost reading supports Fed-hold expectations. Together these keep the dollar firm, which tends to pressure dollar-priced grain and meal export values.

## Read by commodity

- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2023-07-27 | [EUR/USD - Euro sinks as ECB signals a September pause is possible \| MarketPulse by OANDA Group](https://feedsoft.ai/events/35252-eur-usd-euro-sinks-as-ecb-signals-a-september-pause-is-possible-marketpulse-by.md) | -1.3% | -1.9% |
| EURUSD | 2023-09-14 | [EUR/USD: ECB Hikes and euro falls as stagflation risks grow; Dollar strength extends after US retail sales data \| MarketPulse by OANDA Group](https://feedsoft.ai/events/34317-eur-usd-ecb-hikes-and-euro-falls-as-stagflation-risks-grow-dollar-strength.md) | -0.2% | -1.7% |
| EURUSD | 2026-06-30 | [EUR/USD Edges Lower as German Inflation Cools and ECB Signals Further Tightening Potential - VT Markets](https://feedsoft.ai/events/19030-eur-usd-edges-lower-as-german-inflation-cools-and-ecb-signals-further.md) | -0.0% | -0.2% |
| EURUSD | 2025-10-31 | [As Eurozone inflation eases, the EUR/USD trend weakens with losses around 1.1560 due to USD strength - VT Markets](https://feedsoft.ai/events/22640-as-eurozone-inflation-eases-the-eur-usd-trend-weakens-with-losses-around-1-1560.md) | -0.2% | +0.5% |
| EURUSD | 2018-08-29 | [Euro US Dollar Exchange Rate Live: EUR/USD <1.17 Handle Ahead Of Eurozone Inflation](https://feedsoft.ai/events/63737-euro-us-dollar-exchange-rate-live-eur-usd-and-lt-1-17-handle-ahead-of-eurozone.md) | -0.9% | +0.3% |

## Sources

- marketpulse.com: https://www.marketpulse.com/news/eurusd-eurozone-inflation-eases-further-than-expected-us-eci-a-minor-concern/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.