EURUSD to end the recent correction if US inflation surprises on the upside – ING

EURUSD snapped a three-day winning streak on Wednesday. Today, investors await the US October Consumer Price Index (CPI) print. An upside surprise would end the recent correction in the pair, economists at ING report.

US inflation data will be a key driver

“Despite the recent recovery in equities, the external environment is still mixed, including lockdowns spreading across China.”

“Today’s US data is big enough to put an end to the recent EURUSD correction – should inflation surprise on the upside.” 

See – US CPI Preview: Forecasts from 13 major banks, inflation coming down only slowly