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Old 15-12-2020, 15:32
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KostiaFM KostiaFM is offline
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Default Re: Daily Market Analysis by ForexMart

EUR/USD. December 15, 2020 Euro is stable at 1.2170 area

The EUR/USD pair remains stable on Tuesday, trading in the highs just below the 1.2170 level.

Eurozone industrial output statistics for October released yesterday exceeded analysts' expectations, reflecting 2.1% m/m growth. The forecast implied an increase of 1.8%, while a month earlier the indicator rose by 0.1% m/m.

At the same time, the US dollar is under pressure from further actions of the American authorities in the issue of providing financial assistance to the economy. It is noted that a bipartisan incentive plan may be presented at the Congress level in the coming hours. We are talking about an amount of $908 billion, and the financing will most likely take place in 2 stages.

Today we should pay attention to the data on the volume of industrial production in the US for November, the degree of utilization of production facilities, import prices and the index of business activity in the manufacturing sector in New York. Experts predict that the rate of decline in American industry may slow down from -5.3% to -5.0%. And although the scale of the slowdown is extremely small, this data may be a reason for the dollar to strengthen by the end of the day.
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