When are the Eurozone Preliminary CPIs/ GDP and how could they affect EUR/USD?

Dhwani Mehta FXStreet

Eurozone Preliminary CPIs and GDP overview

Eurostat will publish the first estimate of Eurozone inflation and growth figures for October and Q3 2020 respectively at 0900 GMT on Friday.

The headline CPI is anticipated to drop to 0.3% YoY while the core inflation is seen steady at 0.2% YoY in the reported month.

On an annualized basis, the bloc’s economy is seen contracting 7% in Q3 while inter-quarter the GDP rate is expected to expand by 9.4% vs. -11.8% prior.

Deviation impact on EUR/USD

Readers can find FX Street's proprietary deviation impact map of the CPI below. As observed the reaction is likely to remain confined between 10 and 20 pips in deviations up to 3 to -4, although in some cases, if notable enough, a deviation can fuel movements of up to 30-45 pips.

How could affect EUR/USD?

Yohay Elam, FXStreet's Senior Analyst, notes important technical levels ahead of the key release, citing that the bears remain in control, as “support awaits at 1.1650, the fresh low recorded on Thursday. It is followed by 1.1625, which was a low point in mid-September, and then by 1.1610. Resistance is at 1.1695, the daily high, followed by 1.1720, which was a swing low earlier this week. Further above, 1.1745 and 1.1785 await EUR/USD.”

Key notes

EUR/USD Analysis: Post-ECB slide stalls near 100-DMA, Eurozone data eyed for fresh impetus

Coronavirus update: Another record daily surge of 18,681, most of Germany deemed as ‘high risk’

Eurozone Third Quarter GDP Preview: The best view may be to the rear

About Eurozone Preliminary CPIs and GDP estimate

The Euro Zone CPI released by the Eurostat captures the changes in the price of goods and services. The CPI is a significant way to measure changes in purchasing trends and inflation in the Euro Zone. Generally, a high reading anticipates a hawkish attitude which will be positive (or bullish) for the EUR, while a low reading is seen as negative (or bearish).

The Gross Domestic Product released by the Eurostat is a measure of the total value of all goods and services produced by the Eurozone. The GDP is considered as a broad measure of the Eurozone economic activity and health. Usually, a rising trend has a positive effect on the EUR, while a falling trend is seen as negative (or bearish).

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

EUR/USD shifts its attention to 1.1900 and above

EUR/USD has shaken off Tuesday’s dip, pushing back beyond the 1.1800 mark amid decent gains as Wednesday’s session draws to a close. The rebound is largely driven by a modest pullback in the US Dollar, as markets digest the aftermath of President Trump’s SOTU speech and continue to monitor trade-related headlines and signals from the White House.

GBP/USD challenges multi-day highs near 1.3530

GBP/USD leaves behind the previous day’s decline and regains fresh upside traction on Wednesday, surpassing the 1.3500 barrier in a context of a modest decline in the Greenback and a generalised improved mood in the risk-linked space. Meanwhile, the US tariff narrative continues to dictate the mood among market participants after Presidet Trump’s SOTU speech failed to surprise markets.

Gold remains bid and close to $5,200

Gold buyers are returning to the fold on Wednesday, targeting the $5,200 area and possibly beyond, after Tuesday’s corrective dip from monthly highs. The rebound in the precious metal comes as the US Dollar loses traction, with Trump’s SOTU speech offering little fresh direction and AI-related nerves continuing to ease.

UK financial watchdog advances stablecoin oversight as four firms pilot issuance

The Financial Conduct Authority (FCA) in the United Kingdom (UK) is advancing toward the final stablecoin regulatory framework with a pilot program involving four companies, including Monee, Financial Technologies ReStabilise, Revolut and VVTX.

Nvidia earnings to influence AI trade and broader market sentiment

For the last three years, Nvidia has been the engine of the AI boom, and now Wall Street is watching to see whether that momentum can keep going. High-growth stocks have been struggling to maintain their bullish trend in 2026.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.