EUR Surges on Optimism: Overview for November 15, 2023

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSD_22-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="EUR/USD analysis today" decoding="async" style="margin-bottom: 15px;" loading="lazy" /></div><p>The <a href="https://roboforex.com/beginners/info/charts/forex/eurusd/" data-internallinksmanager029f6b8e52c="35" title="EUR/USD">EUR/USD</a> pair has attained its highest level since August 31, 2023.</p>

<p>This primary <a href="https://blog.roboforex.com/blog/2020/06/19/how-to-choose-a-currency-pair-for-trading-in-forex/" data-internallinksmanager029f6b8e52c="142" title="Currency Pair">currency pair</a> stands strong, reaching ten-week highs on Wednesday, with the current EUR/USD exchange rate at 1.0880.</p>

<p>The market witnessed significant <a href="https://blog.roboforex.com/blog/2020/08/20/what-is-volatility-and-how-to-use-it-on-forex/" data-internallinksmanager029f6b8e52c="150" title="Volatility">volatility</a> yesterday evening, triggered by the release of US price reports.</p>

<p>The Consumer Price Index for October came in at zero month-on-month, contrary to the forecasted 0.1% rise and the previous increase of 0.4%. On an annual basis, the <a href="https://blog.roboforex.com/blog/2022/06/30/what-is-inflation-reasons-and-consequences/" data-internallinksmanager029f6b8e52c="220" title="Inflation">inflation</a> rate stood at 3.2%, compared to the forecast of 3.3% and the September value of 3.7%.</p>

<p>While positive dynamics were anticipated in the main index, the slowdown in the growth rate in the core indicator was a welcomed surprise for the market. Core prices increased by 0.2% month-on-month (4.0% year-on-year), while the expectation was for no change from the previous value of 4.1% year-on-year.</p>

<p>A reduction in inflationary pressures <a href="https://blog.roboforex.com/blog/2019/11/28/signals-on-forex-where-to-search-how-to-find-filter-and-create/" data-internallinksmanager029f6b8e52c="101" title="Signals">signals</a> positivity for the economy and capital markets. The dollar naturally declined in this context as the prospects for a new cycle of monetary policy tightening by the US Federal Reserve diminished.</p>

<p>Today, the market awaits US retail sales statistics and industrial production parameters for the same month.</p>

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