The euro held near $1.105 Friday as U.S. producer prices rose 0.3% in October, while the unadjusted annual increase reached its highest level since November 2022 ahead of the Federal Reserve’s next meeting.
The U.S. Bureau of Labor Statistics (BLS) said its final-demand Producer Price Index (PPI) rose 0.3% from September on a seasonally adjusted basis. That followed a revised 1.4% monthly gain in September. Over the 12 months through October, the index increased 6.5% on an unadjusted basis. FXStreet had reported expectations for a 0.4% monthly increase before the release.
At 9:42 a.m. ET (14:42 UTC) Friday, FXStreet reported the euro-dollar pair near $1.1050. In an earlier update at 4:14 a.m. ET (09:14 UTC), it identified $1.1047 as a temporary support level. The European Central Bank’s (ECB) reference rate for Nov. 13 was $1.1052 per euro. The ECB says the daily figure is for reference and should not be used to set prices for currency transactions.
October’s price gains appeared in both major components: final-demand goods rose 0.5%, while services increased 0.2%, the BLS said. Truck freight prices rose 3.9%; that category accounted for more than four-fifths of the monthly increase in the final-demand services index.
The Fed held its federal funds target range at 3.75% to 4.00% on Oct. 28 and said inflation remained elevated. Eurostat, the European Union’s statistics office, estimated that euro-area GDP grew 0.4% quarter over quarter and 1.3% year over year in the third quarter of 2026; employment was unchanged from the previous quarter.
The Fed’s next meeting is scheduled for Dec. 8–9. The BLS is due to release November PPI data on Dec. 15 at 8:30 a.m. ET.
