Today at 13:00 (GMT+3) preliminary consumer price (CPI) in Eurozone for November will become known. CPI is the key indicator of inflation and has a strong impact on the price of the Euro. According to the forecast, CPI will increased by 0.6% on the annual basis. The ECB is going to continue QE program in Eurozone, purchasing European assets in the amount of 80 billion euros (88 billion USD). However, this program has not yet led to the improvement of macro-economic indicators and the increase in inflation.

Current inflation rate in Eurozone is slightly below the target level of 2%. Most economists expect that the European Central Bank will prolong the program for at least six months. They also believe that the ECB can announce changes to the program, which is due to complete in March 2017, at the next meeting on 8 December.

At 15:30 today, ECB President, Mario Draghi will give a speech. Volatility in the Euro and the European indices may rise sharply.

At the beginning of the American session US macro-economic statistics will be released. Volatility in the market can be very high in view of today's events.

The difference in the monetary policy of the ECB and the US Fed will be the main driver of movement in EUR/USD, at least until the Fed’s meeting on 13-14 December. However, some economists believe that the pair EUR/USD will continue to decline towards the parity of the Euro with the USD.EUR/USD: CPI in Eurozone.  Fundamental analysis for 30/11/2016

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