The Euro skyrocketed. Overview for 09.12.2021

EURUSD rose pretty much over the last 24 hours. 

The major currency pair was barely moving for a long time but then skyrocketed. The current quote for the instrument is 1.1320.

There are two reasons for yesterday’s growth of the major currency pair. First of all, it’s a risk appetite, which is back after the concerns about the new COVID-19 strain stepped back. The Omicron variant is no longer considered as dangerous as was thought before, and that made capital markets more optimistic. Another reason is significant fluctuations in EURGBP yesterday – the Pound was falling due to the rumours that the United Kingdom was ready to introduce new social anti-coronavirus restrictions literally starting Thursday. These movements supported the European currency and resulted in the growth of EURUSD.

There were no important statistics, that’s why these rumours turned out to be the key catalyst for investors. 

Later today, market players should pay attention to the weekly Unemployment Claims report from the US, which may show a slight improvement. 

Global markets are now focused on Friday’s data on the US Consumer Price Index, which is promising to be very interesting.