◂ Event Timeline

Nov 4, 2026MACROEU

Eurozone Headline Inflation Ticks Up While Core Holds Steady

Eurozone headline inflation rose from 3.8% to 4.0% in October, while core inflation held at 2.5%, in line with expectations. The euro's recovery against the dollar was attributed mainly to dollar weakness rather than the inflation data.

WHY IT MATTERS

Sticky core inflation keeps the ECB cautious about easing, supporting the euro and influencing the cost of imported energy and fertiliser priced in euros. The effect on feed commodity prices is indirect.

AFFECTSEuro (USD per EUR)▲

SOURCE
stonex.comMichael BoutrosNov 4, 2026

Price reaction & history

Euro (USD per EUR)▲bullish

After 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.

Oct 31, 2023Euro Holds Gains After Eurozone Inflation Comes In Below 3.0% But Core Remains 'Sticky'+1.2%
Aug 31, 2021What Does the Higher Eurozone Inflation Have in Store for the EUR/USD?+0.5%
Jul 24, 2026ECB holds rates steady: Why is the Euro rising?+1.3%
Mar 19, 2026VIEW ECB holds rates steady as Middle East war re-ignites inflation fears | Reuters+0.5%
Dec 18, 2025EUR/USD rebounds as ECB holds rates and US inflation cools+0.3%

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.

Euro (USD per EUR) EURUSD · GP ▸

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