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Euro zone annual inflation was negative

Euro zone annual inflation was negative | 19 November 2020

19 November 2020, EUR/USD

EURUSD trading plan:

Euro zone annual inflation was negative for a third consecutive month in October, matching a four-year low. Inflation in the 19 countries sharing the euro was plus 0.2% month-on-month in October for a 0.3% year-on-year fall, the same annual decline as in September. Food, alcohol and tobacco added 0.38 percentage points to the final results, Eurostat said, and services another 0.19 points, but an 8.2% year-on-year plunge in energy prices subtracted 0.81 percentage points from the final number. Non-energy industrial goods also reduced inflation by 0.03 points. This is a negative signal for the Euro! The ECB wants to keep inflation below, but close to 2% over the medium term.

Trading recommendation: Sell 1.1870 and take profit 1.1835

David Johnson
Analyst of «FreshForex» company
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