The main currency pair is trading close to December highs; the US Dollar is losing.
On Thursday morning,. The EUR/USD pair is trading close to December highs. The current quote for the instrument is 1.1919.
Did anything unpleasant happened to the American currency? No. Most likely, the USD is getting weaker due to the current market situation during holidays, when the liquidity is pretty low. Another reason may be some kind of “boomerang effect” for the American currency because of the US bond yields decrease.
Decrease in the US 10-y Bonds profitability, which is usually considered as a “landmark” for other bonds, influenced the USD behavior significantly. It was clearly seen: the previous several days lacked significant news and statistics, that’s why investors paid attention to this.
The macroeconomic calendar will revive a little bit today. In the evening, the USA will report on the Goods Trade Balance in November, which is expected to improve a bit, and the Prelim Wholesale Inventories over the same month. A bit later, they are going to publish the Chicago PMI in December and the weekly report on the Crude Oil Inventories.
Markets will be back to normal at the beginning of January. This year, the last week is more inactive in comparison with 2016. However, this may because the entire year was quite dynamic.
RoboForex Analytical Department