There is not much news and many investors on the market during Christmas holidays, that’s why the main currency pair continues moving sideways.
The EUR/USD pair is running around in circles. However, even those weak movements that are taking place right now suggest that investors’ attitude is not in favor of the USD. The current quote for the instrument is 1.1880.
The macroeconomic calendar is almost empty this week. On Monday, there weren’t any reports due to the Catholic Christmas. Yesterday, some of the countries continued their vacations, the others were back to trading slowly. Today is also not very “overloaded”: it’s going to be calm in the afternoon, but in the evening the USA are scheduled to report on the Pending Home Sales in November and the Conference Board Consumer Confidence in December.
Financial markets are very unlikely to be even a little bit active this week. As a rule, the week between Christmas and New Year is very quiet. Investors will be back to normal only in January.
We remind you what was a “hot potato” before Christmas. Investors were keeping a close eye on the US taxation system reform project. At the beginning of 2018, this factor should provide some significant support to the USD.
RoboForex Analytical Department