- Dollar weakness prompted EUR / USD to cut losses.
- In the preview of the first American session, expectation in the bond market, the dollar without a clear direction.
EUR / USD bounced after finding support at 1.1334 and rose to 1.1365 reaching the highest level since the Asian session. It then pulled back and is trading around 1.1350.
The EUR / USD rebound came from the 1.1335 area, driven by a weakness in the dollar against major European currencies and the yen. Although the routes remain limited, with traders slowly returning to normal activity, and in the run-up to the American session and the opening of the bond market.
EUR / USD maintains a slight bullish bias, although it still cannot hold firmly above 1.1350 / 60. In case of being able to do it, it would be expected more rises in the pair. But as long as it stays below, the raises will be limited.
The week from lowest to highest
On Monday, the final US Markit PMI for December will be released as well as the November construction spending report. In Europe the final PMI readings did not show any major surprises.
2022 begins with news in Europe. While the tensions continue on the border between Ukraine and Russia, in Germany the post-Merkel era begins, with Olaf Scholz at the head of the country’s administration. Concerns about COVID cases and the situation regarding the Turkish lira remain.
In the US, part of the focus for the week will be on employment data, with ADP on Wednesday and nonfarm payroll on Friday. In addition to Wednesday the minutes of the last meeting of the Federal Reserve will come out.
Technical levels
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