Early in another November week, EURUSD is rising a little bit and doing a good job in dealing with external pressure.
The major currency pair is moving upwards and keeping its positive momentum, although market players have serious doubts about the future. The current quote for the instrument is 1.1871.
The emotions after the presidential elections in the USA settled down, so investors switched their attention to the US Congress to follow numerous verbal battles over a new stimulus package that are going to take place for the next several weeks.
The statistics published last Friday showed that the Consumer Confidence in the Euro Area went from -16 points in September to -18 points in October. As for the European Union, the same indicator dropped to -19 points after being -16.5 points over the same period of time.
This week, the Euro Area and the USA are scheduled to report on the PMI. Also, the USA is going to publish the second estimate of the GDP for the third quarter of 2020, the Durable Goods Orders and the Core Durable Goods Orders for October, and the Consumer Confidence from Conference Board for November. Moreover, market players will see the FOMC Meeting Minutes.
As usual, market players will look through the FOMC report to find any hints at the expansion of the stimulus package to support the US economy. The report is highly unlikely to offer anything dramatically new but investors always find something interesting in it.
Orgin: RoboForex
