EUR/USD steady as Eurozone inflation ticks higher to 2.2% YoY
EUR/USD remains range-bound near 1.0850 as Eurozone's final September CPI confirmed at 2.2% year-over-year, up from August's 2.0%. Core inflation unexpectedly revised higher to 2.4% from the preliminary 2.3%, suggesting persistent price pressures in the region. The data reinforces the European Central Bank's cautious stance on rate cuts, with policymakers likely to maintain current rates through year-end. Markets are pricing in limited ECB easing compared to other major central banks, providing underlying support for the euro. Technical indicators show EUR/USD consolidating within a 1.0820-1.0880 range, with the pair needing to break above 1.0900 to signal renewed bullish momentum. The inflation data, while supportive for the euro, hasn't triggered significant movement as traders await next week's ECB meeting minutes for further policy guidance.
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