What are the main events for today?

Today we might have a pretty choppy day in the markets given that the US is on holiday for Thanksgiving. The only highlights will be the Spanish and German inflation readings. They will likely have an impact on the EUR ahead of tomorrow’s Eurozone Flash CPI.

The market’s pricing for the ECB remains pretty aggressive with 147 bps of easing expected by the end of 2025. We will likely need stronger reasons now to price in further rate cuts. It goes without saying that better data from now on should support the EUR, especially with the sentiment being very bearish on it.

This article was written by Giuseppe Dellamotta at www.forexlive.com.