- EUR / USD rises modestly after falling in the previous two sessions.
- Germany ZEW Survey: Strong rise in December.
- The focus is shifting to the meeting of the European Central Bank.
After two consecutive daily pullbacks, the EUR / USD is rising modestly, after recovering from levels below 1.2100.
EUR / USD starts looking at the ECB
The EUR / USD fell to 1.2094, the low of the day and then bounced up to 1.2134, the highest level of the day. It is trading at 1.2115 / 20, with a slight daily rise.
The euro was not affected by economic data from Europe. There was a significant rise in Germany’s ZEW Expectations Survey. The GDP data for the third quarter was also published with a growth of 4.3%, below the expected 4.4%.
On Tuesday most of the currency market crosses, including the EUR / USD trade in a small range. On a calm day. Wall Street futures point to a negative open.
Attention remains on the Brexit negotiations, new tensions between the US and China, and the run-up to Thursday’s meeting of the European Central Bank. In addition, another key event ahead is the European summit, on Thursday and Friday, where in addition to Brexit, it will be about the budget and the Recovery Fund.
Technical levels
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