Economic Data, EUR in the Spotlight
It’s a relatively quiet day ahead on the economic calendar. Economic data from the Eurozone and U.S stimulus talk will be in focus.
EUR/USD pressured below 1.21
EUR/USD is trading below 1.21, consolidating Friday's losses as the market mood is mixed. Upbeat Chinese GDP and US stimulus are cheering markets while Italy's political crisis and the depressing coronavirus picture is weighing on sentiment.
EUR/USD recedes from 33-month high as Democrats take a lead in Georgia elections
EUR/USD retreats to 1.2285 from a 33-month high of 1.2327. Risk sentiment weakens, pushing stocks lower and the anti-risk dollar higher.
EUR/USD 1Q Forecast: US Dollar May Rebound, FED, ECB Policies Diverge
The US Dollar soared at the onset of the Covid-19 pandemic as panicked credit markets began to seize up, sending capital scrambling for the reserve currency’s ultimate liquidity.
EUR/USD May Rise To 1.22
Euro/dollar's consolidation may be coming to an end as worries about the virus, US stimulus, and Brexit are holding the EUR/USD pair back
EUR/USD still targets the 1.2200 level
According to FX Strategists at UOB Group noted the positive outlook for EUR/USD, which continues to target the 1.2200 level.