According to Eurostat (Europe’s major statistics agency), the Eurozone’s consumer price growth came in at 0,1% in October 2015. This means that the actual figures outpaced the estimates since the analyst had expected zero growth over the reporting period.
All in all, this means that the Eurozone is under deflation. More specifically, consumer prices shrank by 0,1% over the last 12 months as of October 2015. The previous value was at 0,4%.
At the same time, October’s core CPI reached 1,1% against September’s 0,9%.
Energy prices dropped by 8,5% last month. September’s figures came in at 8,9%. The year-over-year growth of the prices on foodstuffs, tobacco and alcohol reached 1.6% while the service sector saw a 1.3% price increase. Anyways, the Eurozone economy is still slowing down. This is confirmed by the figures revealed in the latest quarterly GDP report (Q3 2015).
FOREX
According to Masterforex-V Academy, the common European currency keeps on trading within the scope of the same long-term downtrend against the U.S. Dollar even though the price is currently recovering. At this point, the major levels of resistance are the 1.0829 high as well as Fibo levels 1.0867/89, 1.0925. At the same, a break below 1.0673 low is going to resume the downtrend. If that’s the case, we are probably going to see the price plunging all the way down to 1.0610, 1.0576 and maybe even lower.
