The Euro is slightly growing. Overview for 01.02.2022

EURUSD is rising amid “renascence” of enthusiasm for risks. 

The major currency pair continues growing on Tuesday. The current quote for the instrument is 1.1262.

The risk attitude in financial markets is improving and that makes the “greenback” less attractive. 

In the meantime, the statistics from Germany showed that the Retail Sales dropped 5.5% m/m in December after adding 0.6% m/m in November and against the expected decline of 1.3% m/m. The reason for that is the same we discussed recently – people started buying Christmas and New Year presents earlier than usual due to COVID-related restrictions. 

Later in the afternoon, the US is scheduled to release the final Markit Manufacturing PMI report for January, which is expected to show 55.0 points. Another interesting report is the ISM Manufacturing PMI, which may drop to 57.4 points after being 58.7 points in December.  

This week is going to be rich in terms of numbers. On Wednesday, the US will start reporting on its labour market. As usual, the first release will be the ADP Non-Farm Employment Change. There is no direct correlation between the ADP Non-Farm Employment Change and the NFP to be published on Friday but tomorrow’s report always may help to obtain an overview.