EURUSD is climbing on Tuesday; the pair is supported by easing of tensions relating to the Italian national debt.
The European currency is keeping the momentum it started yesterday and growing against the USD. The current quote for the instrument is 1.1634.
After tensions relating to the Italian national debt eased, the Euro got a chance to bounce back. Of course, this information is not new, but the European currency was happy to have it. The Italian national debt increased 132% of the GDP, which is much more than other European countries. In total, only Greeks have more debts right now. At the beginning of September, the US President Donald Trump offered to help Italy in public debt financing, but it seems like investors still haven’t decided on their attitude to this issue.
This Thursday, the European Central Bank will have another meeting. Most likely, the key rate won’t change, but investors are very interested in any hints at the time of closing the QE program. Earlier it was announced that the program would continue until the end of 2018. Probably, the ECB might comment on closing the program the same as before: the QE will continue as long as the Euro Area economy requires it.
There won’t be many significant statistics for the major currency pair today. Most of the reports to be published on Tuesday are secondary, that’s why EURUSD will be driven by the current catalysts.