The Euro continues growing. Overview for 05.01.2021
Early in the new year, EURUSD is looking up and intending to continue its positive momentum.
The major currency pair is in the “black” on Tuesday. The current quote for the instrument is 1.2260.
Market players remain positive. The statistics look okay but investors are excited due to their expectations of successful vaccination against the coronavirus.
The numbers published earlier showed that the Manufacturing PMI in the Euro Area was 55.2 points in December against the flash estimate of 55.5 points. The same indicator for Germany was 58.3 points after being 58.6 points.
Indicators remain above 50 points, that’s why such small declines are not disturbing.
News is very different. The ECB policymakers said yesterday that they might expand the stimulus program. The United Kingdom closed its border for another quarantine and the Pound plummeted against both the USD and the Euro because concerns about a new coronavirus strain are bigger than the “happiness” of the Brexit deal.
Today, one should pay attention to the ISM Manufacturing PMI in December, which is expected to plunge.