The Euro is staying close to two months’ highs. Overview for 27.11.2017

The main currency pair is trading downwards a little bit, but still staying close to local highs.

At the beginning of another week, the EUR/USD pair is looking quite confident. The current quote for the instrument is 1.1922.

The American currency got under pressure when most of the country’s investors left the market to celebrate the Thanksgiving Day. The day after the holiday couldn’t change the situation for the better, because not all of them were back to trading.  

One of the main reasons why the USD got weaker is an impressive report published by the European Central Bank, which said that the regulator wasn’t going to focus on the inflation when making decisions relating to its monetary policy. Investors ran ahead a bit and made a lot of snap judgements, such as the QE program closing in Europe earlier than it had been announced before. However, this situation is rather typical for the EUR/USD pair, which “hit the turbulence” all the time.

The ECB, which not long time ago provided investors with as transparent hints to its future fiscal activities as possible, won’t change its policy only because some market players perceived the standard document in their own way.

This week, there will be two major things to define the main currency pair movement. The first thing is Germany without a governing coalition. The second one is a preliminary report on the US GDP in the third quarter. Average market expectations show that the American economy may expand by 3.2-3.5% despite the hurricane season consequences.

RoboForex Analytical Department