- Caution prevails amid ongoing political uncertainty.
- German ZEW survey revealed a steep decline in Economic Sentiment in October.
- EUR/USD trades 1.1800 lacking direction
The EUR/USD pair is trading lower but in range, as a souring mood in the market boosts demand for USD.
US policy makers fail to agree on a fiscal stimulus package Brexit talks also lack progress. China – Australian tensions rose, after the former banned imports of Australian coal. Equities are in negative territory. US index futures are paring yesterday’s gains.
German September inflation was -0.2% YoY in line with forecasts. German October ZEW Survey, which showed that the Economic Sentiment fell by more than anticipated, down to 56.1 from 77.4. For the EU, the morale also missed forecasts dropping from 73.9 to 52.3. USCPI, came in at 1.4%, YoY as expected. Core inflation missed analysts’ expectations of 1.8% at 1.7%.