The Euro continues growing. Overview for 15.02.2021
Early in another February week, EURUSD is rising and wants to keep its positive momentum.
The major currency pair is “in the black” on Monday, while today’s trading session is expected to be calm. The current quote for the instrument is 1.2138.
The USA is celebrating President’s Day, so financial markets aren’t active there.
Among the reports scheduled for today, one should pay attention to the Industrial Production in the Euro Area, which is expected to lose 0.4% m/m in December after adding 2.5% m/m the month before. In addition to that, the Eurogroup Meetings are starting today and the German Central Bank is planning to publish its Monthly Report.
Market layers continue keeping a close eye on the approval of the $1.9T stimulus plan in the USA. The procedure is going pretty fast but the plan won’t be implemented at least until March 15th, when some of the previous programs are over.
The statistics published by the USA last Friday showed the preliminary reading on the Consumer Sentiment from the University of Michigan, which dropped to 76.2 points in February after being 79.0 points in January and against the expected number of 80.0 points, and that’s the lowest reading over the last six months. The components of the report show that the consumer expectations and the current conditions went from 74.0 and 86.7 points to 69.8 and 86.2 points respectively.
One of the probable reasons for the degradation of the situation with household income. If so, it’s a pretty huge risk for the American economic recovery outlook.