# EUR/USD: Double bottom takes shape as inflation pressures ECB

> The euro rose about 0.5% to $1.1246 on 4 November as a potential double bottom formed in EUR/USD after several months of selling. Eurozone inflation rose to 4.0% in October, with core inflation steady at 2.5%, strengthening the case for another ECB hike in December.

- Date: 2026-11-04 · published 2026-11-05T00:08:33.995Z
- Category: macro · region EU · magnitude low
- Page: https://feedsoft.ai/events/80659-eur-usd-double-bottom-takes-shape-as-inflation-pressures-ecb
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Higher euro-area rate expectations support the euro against the dollar, which lowers the cost of dollar-priced imports such as feed ingredients for European buyers. The move is a currency story with limited direct effect on grain or meal prices.

## Read by commodity

- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2022-02-02 | [Record euro zone inflation piles pressure on ECB \| Reuters](https://feedsoft.ai/events/9873-record-euro-zone-inflation-piles-pressure-on-ecb-reuters.md) | +1.6% | -1.2% |
| EURUSD | 2025-12-18 | [EUR/USD rebounds as ECB holds rates and US inflation cools](https://feedsoft.ai/events/21719-eur-usd-rebounds-as-ecb-holds-rates-and-us-inflation-cools.md) | +0.3% | -1.3% |
| EURUSD | 2023-12-14 | [ECB Keep Rates Steady with Tentative Inflation Downgrades, EUR/USD Rises](https://feedsoft.ai/events/8302-ecb-keep-rates-steady-with-tentative-inflation-downgrades-eur-usd-rises.md) | +1.5% | +1.5% |
| EURUSD | 2018-10-25 | [Euro rises versus dollar after ECB's Draghi predicts inflation pick up](https://feedsoft.ai/events/62753-euro-rises-versus-dollar-after-ecb-s-draghi-predicts-inflation-pick-up.md) | -0.5% | -0.5% |
| EURUSD | 2021-08-31 | [What Does the Higher Eurozone Inflation Have in Store for the EUR/USD?](https://feedsoft.ai/events/45766-what-does-the-higher-eurozone-inflation-have-in-store-for-the-eur-usd.md) | +0.5% | -1.0% |

## Sources

- ig.com: https://www.ig.com/en-ch/news-and-trade-ideas/eur-usd-double-bottom-ecb-inflation-261104

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