<ul><li>Prior +1.6%</li><li>PPI +30.8% vs +31.5% y/y expected</li><li>Prior +41.9%</li></ul><p style=““ class=“text-align-justify“>Euro area producer prices fell more than expected in October and that is a welcome sign that perhaps inflation pressures may ease further in the months ahead. It marks the first time that producer prices have declined on a monthly basis since May 2020. Looking at the details, a 6.9% drop in energy price was the main drag for overall prices.</p>

This article was written by Justin Low at forexlive.com.

<p style=““ class=“text-align-justify“>That is the first time that the central bank has stepped in with ETF purchases since 17 June this year. For some context, Japanese stocks saw a poor showing today with the Topix falling by over 2% at one point, before closing down by roughly 1.6%.</p>

This article was written by Justin Low at forexlive.com.

<p style=““ class=“text-align-justify“>The dollar is finding little reprieve in European trading, even if the market mood is seemingly more tentative. <a target=“_blank“ href=“https://www.forexlive.com/terms/u/usd-jpy/“ target=“_blank“ id=“54ffc0de-9a7c-4a70-9e2e-73d5d9b2bfee_1″ class=“terms__main-term“>USD/JPY</a> has now fallen to fresh lows since mid-August as the pair drops below 134.00 as sellers threaten to take out the 200-day moving average (blue line), seen at 134.49.</p><p style=““ class=“text-align-justify“>That is a key level on the charts as a break below that paves the way for a potential push towards 130.00 next for the pair, with there being little support in the way.</p><p style=““ class=“text-align-justify“>The drop comes as we start to see Treasury yields inch towards the lows yesterday, with 10-year yields now seen at 3.517% – nearing its own 100-day moving average at 3.48%.</p>

This article was written by Justin Low at forexlive.com.