The Euro is looking for a reason to rise. Overview for 15.12.2020

EURUSD is trying to keep its positive momentum and just looking for an appropriate reason to continue growing. 

The major currency pair is neutral on Tuesday afternoon. The current quote for the instrument is 1.2149.

The statistics on the Industrial Production published by the Euro Area yesterday were pretty strong and showed +2.1% m/m, which is much better than both the previous and expected readings (+0.1% and +1.8% m/m respectively).

New restrictions for operations of many companies and businesses haven’t had much influence on financial markets and investors so far. Frankly speaking, it’s the risk that has yet to appear: as soon as the retail sales drop, it will turn up “at its finest’.

Right now, market players are closely watching a bipartisan $908 billion coronavirus stimulus plan, which is expected to enter Congress in the nearest future. The plan is anticipated to have 2 stages. 

A batch of good news came from China today, where both the Industrial Production and the Retail Sales are looking pretty well (+7.0% y/y and +5.0% y/y respectively). In the evening, investors should pay attention to the US Industrial Production and the Capacity Utilization Rate for November, and the Empire State Manufacturing Index for December.