20.11.202407:45 Forex Analysis & Reviews: Hot Forecast for EUR/USD on November 20, 2024

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The final inflation data for the Eurozone confirmed the preliminary estimate, showing an acceleration in consumer price growth from 1.7% to 2.0%, entirely in line with expectations. As a result, there was no market reaction, and the pair continued to consolidate near its previous levels.

This trend will likely persist due to the lack of significant macroeconomic events on the calendar. Consolidation could even evolve into stagnation, as notable macroeconomic data is only scheduled for release on Friday. This includes the preliminary estimates of business activity indices. Unless something unexpected happens, the market will likely remain in a state of relative equilibrium for the rest of the week.

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