EUR/USD extends losses as Eurozone inflation pressures moderate

By News Room Last updated Nov 19, 2025

EUR/USD has given away gains after another rejection at the 1.1600 area to reach fresh weekly lows at.1.1565 following the release of Eurozone inflation figures. The pair is trading at 1.1575 at the moment of writing, but remains on a negative trend from last week’s highs, above 1.1550, as the risk-averse mood underpins demand for the Safe-haven US Dollar (USD).

Figures released by Eurostat earlier on Wednesday confirmed that the Eurozone Harmonised Index of Consumer Prices accelerated to 0.2% in October from 0.1% in September, but yearly inflation eased to 2.1% from the previous month’s 2.2% rate, drawing closer to the European Central Bank’s (ECB) 2% target. The core HICP grew 0.3% on the month and 2.4% year-on-year, from 0.1% and 2.4% respectively in September.

On Tuesday, US economic data was far from supportive for the Greenback. US Initial Jobless Claims grew beyond expectations in the week of October 18, and the US ADP Employment Change weekly report showed that businesses shed an average of 2,500 jobs per week in the four weeks ending on November 1. All in all, figures reflect a weakening labour market.

Bets of a Federal Reserve (Fed) interest rate cut in December have inched higher, but the Richmond Fed President, Thomas Barkin, affirmed on Tuesday that committee members might need more data to decide on the next monetary policy steps..

Later on Wednesday, the focus will shift to the minutes of the October Fed meeting, which are due to be released at 19:00 GMT. Market volatility, however, is likely to remain subdued ahead of the all-important US Nonfarm Payrolls report, due on Thursday.

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the New Zealand Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		0.09%	0.33%	0.47%	0.17%	0.37%	0.61%	0.40%
EUR	-0.09%		0.24%	0.36%	0.07%	0.27%	0.52%	0.31%
GBP	-0.33%	-0.24%		0.12%	-0.17%	0.04%	0.28%	0.07%
JPY	-0.47%	-0.36%	-0.12%		-0.29%	-0.09%	0.14%	-0.05%
CAD	-0.17%	-0.07%	0.17%	0.29%		0.20%	0.44%	0.24%
AUD	-0.37%	-0.27%	-0.04%	0.09%	-0.20%		0.24%	0.04%
NZD	-0.61%	-0.52%	-0.28%	-0.14%	-0.44%	-0.24%		-0.21%
CHF	-0.40%	-0.31%	-0.07%	0.05%	-0.24%	-0.04%	0.21%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

Daily digest market movers: The Euro remains vulnerable in risk-off markets

The Euro keeps trading sideways, showing a lack of clear bias near weekly lows, as the sour market mood underpins the safe-haven US Dollar. The sell-off on global equity markets has triggered a rush for safety, which is keeping risk-sensitive assets like the EUR on the back foot.
In the US, Initial Jobless Claims rose to 232,000 and Continuing Claims rose to 1,957 million, both for the week ending in October 18, and from 219,000 and 1,926 million respectively in the week of September 19 – this was the last week figures were released ahead of the US government shutdown.
US ADP employment data revealed that businesses shed an average of 2,500 jobs per week in the four weeks ending on November 1. This is a better figure than the 11,250 average posted the previous week, but still reflects a weakening labour market and adds pressure on the Fed to cut interest rates further at upcoming meetings.
On the positive side, US Factory Orders delayed data revealed a 1.4% increase in August, in line with market consensus, to offset the 1.3% decline seen in the previous month. The impact of this figure on the US Dollar, however, was minimal.
During the US session, the minutes of the last Fed meeting are likely to provide further insight into the central bank’s monetary policy, although the highlight this week will be the release of September’s delayed Nonfarm Payrolls report, due on Thursday.

Technical Analysis: EUR/USD remains under pressure below 1.1600

EUR/USD 4-Hour Chart

There are no relevant changes in the EUR/USD technical picture. The pair remains trading sideways below 1.1600 with the bearish trend from 1.1650 in play. The mild recovery attempt from weekly lows near 1.1570 seems fragile, and technical indicators remain within negative territory.

The 4-hour Relative Strength Index (RSI) momentum indicator is below the 50 level, and the Moving Average Convergence Divergence (MACD) keeps posting red histogram bars. However, the MACD line is turning flat, suggesting a weaker bearish momentum.

Tuesday’s low near 1.1570 is still at a short distance and below there, the November 7, 10, and 11 lows in the 1.1535-1.1545 area, and the November 5 lows, near 1.1470, emerge as the next bearish targets. To the upside, Tuesday’s high, around 1.1610, is likely to challenge bulls ahead of the top of the bearish channel, which now lies around 1.1635. Further up, the October 28 and 29 highs, near 1.1670, would come into focus.

Economic Indicator

Harmonized Index of Consumer Prices (YoY)

The Harmonized Index of Consumer Prices (HICP) measures changes in the prices of a representative basket of goods and services in the European Monetary Union. The HICP, released by Eurostat on a monthly basis, is harmonized because the same methodology is used across all member states and their contribution is weighted. The YoY reading compares prices in the reference month to a year earlier. Generally, a high reading is seen as bullish for the Euro (EUR), while a low reading is seen as bearish.

Economic Indicator

Core Harmonized Index of Consumer Prices (YoY)

The Core Harmonized Index of Consumer Prices (HICP) measures changes in the prices of a representative basket of goods and services in the European Monetary Union. The HICP, – released by Eurostat on a monthly basis, is harmonized because the same methodology is used across all member states and their contribution is weighted. The YoY reading compares prices in the reference month to a year earlier. Core HICP excludes volatile components like food, energy, alcohol, and tobacco. The Core HICP is a key indicator to measure inflation and changes in purchasing trends. Generally, a high reading is seen as bullish for the Euro (EUR), while a low reading is seen as bearish.