EUR/USD is trading at 1.0946, down 0.0035. The pair is trading modestly choppy and near the session lows. Market chatter about global money flows and headline news is making the rounds. Italy's National Institute of Statistics (ISTAT) reported that year over year October CPI (Consumer Price Index) fell to negative 0.1 percent from 0.1 percent in September. On the month Italian CPI was flat versus 0.1 percent in September. The Harmonized Index of Consumer Prices (HICP) rose 0.2 percent versus a 1.9 percent rise September. Year over year HICP was negative 0.1 percent versus 0.1 percent in September. Italian PPI (producer prices) was flat versus a 0.1 percent decline September. Year over year PPI fell 0.7 percent versus a 1 percent fall in September.