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Weekly Outlook – EURUSD, GBPUSD, AUDUSD
video The US CPI data comes out on Tuesday and expectations are for the headline rate to have declined to 3.3% y/y from 3.7%, while the core rate is expected to have remained close to September’s 4.1%. That said, considering that the PMIs for October suggested softer price pressures, the risks surrounding the core rate may be tilted to the downside as well. EURUSD weakened somewhat last week, but it remained above the key zone of 1.0665, above which the pair broke on November 3 after the disappointing NFPs. Slowing US inflation could result in another leg north in this pair and perhaps allow a break above the ... (full story)