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Today’s key events from Europe will be the October HICP and Unemployment Rate. Currently the ECB are resolute that current rates are appropriate and inflation expectations remain ‘firmly anchored’. Consequently any unexpected increase in CPI (-0.1% YoY exp, -0.3% prior) would likely be a catalyst for speculation about a shift in ECB stance and be favourable to EURUSD climbing higher. However, the deflationary pressure of rising unemployment will also be an important factor to consider for the governing council, today’s reading is forecast to show a moderate uptick to 9.7% from 9.6% last month.