US Monthly PPI will be announced on Friday at 15:30 MT time.
EUR supported by the European Commission
Information is not investment advice
The economic situation in the Eurozone is as bad as the ECB’s worst forecasts as reported by the bank’s president Christine Lagarde today. Nevertheless, the EUR is willing to overlook this news and pay more attention to the stimulus extension plans as the European Commission informs. The currency took that as a strong sign that hopes for a better recovery may be fulfilled and rallied against the USD and the GBP. That, however, may be just a temporary rise which will change no larger trend unless there is more fundamentally positive input. Watch for the resistance levels to be crossed or reverse the upswing and adjust your positions accordingly.
A lot of news came out that may impact the market. It’s surely not the time to rely only on technical analysis!
The European unemployment rate is announced on Wednesday at 12:00 MT time.
EUR/USD, the S&P 500, gold, and oil - everything is here! Jump in!