US CPI Takes Centre Stage & Dollar Awaits Government Reopening
EURUSD and GBPUSD ended last week largely influenced by muted US economic data and the ongoing government shutdown. With key releases like US CPI, German and UK GDP, and retail sales on the calendar this week, traders are expected to focus on technical levels for trading opportunities. Market sentiment shows cautious optimism, with long positions targeting higher levels while watchful of potential volatility triggers.
EURUSD Week Ahead: Technical Focus Amid US Data Pause
EURUSD closed last week’s trading session marginally lower on weaker than expected US economic releases and the ongoing US government shutdown. The Nonfarm Payrolls report was once again not released due to continuous closure of the government, leaving traders in wait-and-see mode.
Looking at the week ahead, traders and investors will mainly focus on technical levels. The light economic calendar is unlikely to spark any volatility. The main catalyst for price action will be the US CPI, while any signs of a possible government reopening would likely be good news for the US Dollar.
Market Sentiment & Key Economic Data
On the economic calendar, Wednesday brings the German Harmonized Index of Consumer Prices, expected to hold steady at 2.3%. On Thursday, US CPI is also forecast to remain unchanged at 0.2%. On Friday, the European Gross Domestic Product (GDP) is expected to remain unchanged at 1.3% and the US Retail Sales are projected to come in lower at 0.4%.
Technically, the pair remains negative after last week’s close below the 38.2% level at 1.1566. Long positions are targeting profits above 1.1700, while sell positions are targeting profits at 1.1500.
Position sentiment now stands at 70% and 30% SELL.
EURUSD chart, November 10, 2025. Source: TenTrade.com
Market Remains Muted Ahead of Key Economic Events
GBPUSD closed last week’s trading session flat after the BOE kept interest rates unchanged. The non-release of the Nonfarm Payrolls report, due to the US government closure, kept the market muted as traders avoided taking new positions.
For this week, traders and investors will mainly focus on technical levels and the light economic calendar. A possible US Government reopening would likely support the US Dollar.
This Week’s Data Highlights and Market Sentiment
On the economic calendar, Tuesday brings the UK ILO unemployment rate, expected to tick higher at 4.9%. On Thursday, UK GDP is forecasted to edge lower to 0%, while US CPI is expected to remain unchanged at 0.2%. On Friday, US Retail Sales are expected to come in lower at 0.4%.
Technically, the pair remains negative after last week’s close below the 50% level at 1.3159. Long positions remain open between 1.3369 and 1.3100, targeting profits above 1.3500
Position sentiment is currently 85% BUY and 15% SELL.
英镑兑美元 chart, November 10, 2025. Source: TenTrade.com
Key Takeaways
- EURUSD ended last week slightly lower; muted by weak US data and ongoing government shutdown.
- GBPUSD closed flat as BOE kept interest rates unchanged; market remained cautious due to Nonfarm Payrolls non-release.
- Key economic events this week: US CPI, UK GDP, German HICP, European GDP, and US Retail Sales.
Technical outlook: EURUSD below 38.2% (1.1566) with targets 1.1500–1.1700; GBPUSD below 50% (1.3159) with targets 1.3100–1.3500. - Position sentiment: EURUSD 70% BUY – 30% SELL; GBPUSD 85% BUY – 15% SELL.
For more detailed economic calendar events please visit our live economic calendar on:
https://tentrade.com/economic-calendar/
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