The Euro draws confidence from the market and is ready to continue its growth.
The major currency pair is looking pretty stable despite a lack of progress with vaccines and a lot of high hopes for them. The current quote for the instrument is 1.2142.
It became known that the US Centers for Disease Control and Prevention (CDC) had already made COVID 19 vaccine recommendations. What does it mean? Everything is quite simple: the cure is ready and waiting for everyone who is willing to get vaccinated.
This optimism about vaccines is what makes investors’ interest in “safe haven” assets go down and allows them to continue buying. At the same time, the pure logic says that many assets, including indices and currencies, climbed too high – in case of any doubts, they may start plummeting very quickly.
There will be no interesting statistics from the USA today but the Euro Area will give causes for reflection. For example, it is scheduled to report on the Industrial Production, which is expected to add 1.8% m/m in October after losing 0.4% m/m in September. No one is expecting any miracles but the report may provide insight into what is happening in the sector.
Orgin: RoboForex
