Analysis EUR/USD. The “greenback” is strategically weak

news_22_feb_2_euro_usdEarly in another October week, EURUSD is falling a little bit but it doesn’t anything in the “trading picture” globally.

EURUSD is slowly correcting on Monday morning. The current quote for the instrument is 1.1835.

Investors’ attention switched from the statistics to the politics. On November 3rd, the USA will elect its next president – the debates are over and all one has to do is wait. The tension is pretty high: development path of the country and its policy might be extremely opposite depending on the election results.

The final debates between the incumbent President Donald Trump and his opponent Joseph Biden turned out to be not as “hot” as many observers expected. The primary focus was switched to a fight with the coronavirus and its consequences, and, of course, personal rivalry. However, no new details as both candidates already told to and about each other everything they wanted.

The USD remains weak so far: a new stimulus package won’t surely happen before November 3rd, but after – rather likely. This is what puts pressure on the “greenback”.

There will be no interesting statistics today, so the trading session might be pretty calm.

However, there will surely be numbers worth paying attention to this week. For example, September reports on the Durable Goods Orders, the Personal Income and the Personal Spending, and the GDP from the USA. Also, the European Central Bank is scheduled to have another meeting, decide on the interest rate, and comment on the current economic situation in the region.

Orgin: RoboForex

Leave a Reply