{"id":15594,"date":"2022-11-01T06:38:22","date_gmt":"2022-11-01T06:38:22","guid":{"rendered":"https:\/\/www.xtreamforex.com\/?p=15594"},"modified":"2022-11-01T06:38:22","modified_gmt":"2022-11-01T06:38:22","slug":"euro-area-annual-inflation-up-to-10-7-european-union","status":"publish","type":"post","link":"https:\/\/www.xtrememarkets.com\/US\/euro-area-annual-inflation-up-to-10-7-european-union\/","title":{"rendered":"Euro area annual inflation up to 10.7% &#8211; European Union"},"content":{"rendered":"<h1 class=\"LC20lb MBeuO DKV0Md\">Euro area annual inflation up to 10.7% &#8211; European Union<\/h1>\n<p>Eurostat\u2019s preliminary estimate indicated an acceleration of annual inflation in the euro region from 9.9% immediately to 10.7%. Economists are expecting no change, and the difference of 0.8 points is one of the most prominent indicators economists predict quite accurately on average.<\/p>\n<p>But it\u2019s not only this surprise that we want to point out, but also how fast price growth has spread beyond energy and food categories. Core inflation accelerated to 5% YoY in September, adding 0.6% MoM. Non-energy industrial goods rose at 1.2% MoM and 6.0% YoY.<\/p>\n<p>These dynamics should signal that the ECB should not reduce the pace of monetary tightening. No doubt the ECB had this or very comparable data available for last Thursday\u2019s meeting but chose to act within market expectations with a rate hike of 75 points.<\/p>\n<p>A softer policy than required by the macroeconomic context is likely to be one of the reasons for pressure on the euro. The <a href=\"https:\/\/www.xtrememarkets.com\/US\/\"><strong>EUR\/USD<\/strong><\/a> is testing the 0.9900 level and the 50-day moving average from above. A sharp dip below would make the previous breakout be considered false. A breakup of the rising trend from the end of September would set the pair to create a global low, disappointing the recent buyers.<\/p>\n<p>The market is unlikely to make an essential move beyond local trends before the results of Wednesday evening\u2019s Fed meeting. The FOMC is expected to rise rates by 75 points for the fourth consecutive time but will indicate a smaller rate hike in the future, which could reduce traction in dollar-denominated assets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Euro area annual inflation up to 10.7% &#8211; European Union Eurostat\u2019s preliminary estimate indicated an acceleration of annual inflation in the euro region from 9.9% immediately to 10.7%. Economists are expecting no change, and the difference of 0.8 points is one of the most prominent indicators economists predict quite accurately on average. But it\u2019s not<\/p>\n... <a href=\"https:\/\/www.xtrememarkets.com\/US\/euro-area-annual-inflation-up-to-10-7-european-union\/\">continue reading<\/a>.","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[17],"tags":[227,20,265,267,19,188,35,148,201],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v16.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Euro area annual inflation up to 10.7% | Xtreamforex<\/title>\r\n<meta name=\"description\" content=\"Euro stat\u2019s preliminary estimate indicated an acceleration of annual inflation in the euro region from 9.9% immediately to 10.7%.\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.xtrememarkets.com\/US\/euro-area-annual-inflation-up-to-10-7-european-union\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" 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