Early in the week, EURUSD is trying to reach stability after last Friday’s fluctuations.
The major currency pair is trying to reach stability and regain positions. The current quote for the instrument is 1.1273.
Market concerns about possible lockdowns in Europe after the Netherlands introduced new COVID-related restrictions until 14 January make investors turn to “safe haven” assets, including the “greenback”. In this light, the Euro lost everything it gained last Thursday after the ECB meeting.
In Germany, unvaccinated people are restricted from attending public places, but the government is denying a possibility of a total lockdown so far.
At the moment, the current epidemiological situation and reactions of different countries to the pandemic are the key market trigger.
This trading week is going to be short. Friday is Christmas Eve, so American markets will be off, while European ones are scheduled to close earlier than usual. The currency market is a bit different, but it is still expected to be less active.
However, before that, the US is planning to release one more estimate of the GDP Q3, as well as reports on the Personal Income/Spending.