No surprises from European data: headline inflation ticks up from 0.4% to 0.5% while core inflation remains unchanged at 0.8% in the initial assessment for October. The initial GDP estimate comes out at 0.3% q/q for Q3 2016, also as projected.

EUR/USD remains close to the 1.0950 level.

The preliminary inflation data for October was expected to show a small uptick in headline inflation, from 0.4% to 0.5%. However, no change was predicted for core inflation: yet another read of 0.8% was on the cards. Data from Germany was upbeat and also Spain saw rising prices, but France took the other direction.

EUR/USD was sliding from the highs reached on Friday, trading around 1.0950.

The pair moved higher late in the week on the FBI Effect: The US agency announced it is reopening the investigation regarding Clinton’s email. Since then, it seems there is lots of smoke with little fire or at least that this revelation is unlikely to turn the elections upside down. This helped the greenback recover.